Waste Connections Inc. Reports Operating Results (10-Q)

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Jul 22, 2011
Waste Connections Inc. (WCN, Financial) filed Quarterly Report for the period ended 2011-06-30.

Waste Connections Inc. has a market cap of $3.86 billion; its shares were traded at around $34.02 with a P/E ratio of 25.9 and P/S ratio of 2.9. The dividend yield of Waste Connections Inc. stocks is 0.9%. Waste Connections Inc. had an annual average earning growth of 9.2% over the past 10 years. GuruFocus rated Waste Connections Inc. the business predictability rank of 4.5-star.

Highlight of Business Operations:

Revenue in our Western segment increased $11.6 million, or 6.6%, to $187.6 million for the three months ended June 30, 2011, from $176.0 million for the three months ended June 30, 2010. For the three months ended June 30, 2011, the components of the increase consisted of volume increases of $2.9 million, net price increases of $4.3 million, recyclable commodity sales increases of $4.1 million and intermodal revenue increases of $0.7 million, partially offset by other revenue decreases of $0.1 million and decreases of $0.3 million from divested operations.

Revenue in our Western segment increased $19.1 million, or 5.6%, to $362.1 million for the six months ended June 30, 2011, from $343.0 million for the six months ended June 30, 2010. For the six months ended June 30, 2011, the components of the increase consisted of volume increases of $0.7 million, net price increases of $8.0 million, recyclable commodity sales increases of $7.9 million, intermodal revenue increases of $2.8 million and other revenue increases of $0.2 million, partially offset by decreases of $0.5 million from divested operations.

Revenue in our Central segment increased $13.5 million, or 14.0%, to $110.5 million for the three months ended June 30, 2011, from $97.0 million for the three months ended June 30, 2010. For the three months ended June 30, 2011, the components of the increase consisted of revenue acquired from acquisitions closed during, or subsequent to, the three months ended June 30, 2010, of $9.4 million, net price increases of $5.2 million and recyclable commodity sales increases of $0.2 million, partially offset by volume decreases of $1.2 million and other revenue decreases of $0.1 million.

Revenue in our Central segment increased $26.2 million, or 14.2%, to $210.9 million for the six months ended June 30, 2011, from $184.7 million for the six months ended June 30, 2010. For the six months ended June 30, 2011, the components of the increase consisted of revenue acquired from acquisitions closed during, or subsequent to, the six months ended June 30, 2010, of $17.6 million, net price increases of $9.9 million and recyclable commodity sales increases of $0.5 million, partially offset by volume decreases of $1.8 million.

Revenue in our Eastern segment increased $34.6 million, or 60.1%, to $92.1 million for the three months ended June 30, 2011, from $57.5 million for the three months ended June 30, 2010. For the three months ended June 30, 2011, the components of the increase consisted of revenue acquired from acquisitions closed during, or subsequent to, the three months ended June 30, 2010, of $32.5 million, net price increases of $2.3 million and recyclable commodity sales increases of $0.2 million, partially offset by volume decreases of $0.1 million and other revenue decreases of $0.3 million.

Revenue in our Eastern segment increased $38.3 million, or 34.7%, to $148.6 million for the six months ended June 30, 2011, from $110.3 million for the six months ended June 30, 2010. For the six months ended June 30, 2011, the components of the increase consisted of revenue acquired from acquisitions closed during, or subsequent to, the six months ended June 30, 2010, of $33.3 million, net price increases of $4.3 million, volume increases of $0.8 million and recyclable commodity sales increases of $0.3 million, partially offset by other revenue decreases of $0.4 million.

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