Waste companies release 2018 fourth quarter earnings
Public waste management companies have released their financial results for the fourth quarter (Q4) of 2018, ending Dec. 31. Most noted that despite complications from China's strict recycling regulations, their operations experienced positive growth through the year overall.
"We are very pleased with our strong finish to the year, which positions us well for 2019. Despite significant headwinds from recycling, we achieved our earnings per share (EPS) guidance and exceeded our free cash flow guidance, demonstrating the underlying strength of the solid waste business," said Donald W. Slager, the president and chief executive officer of Republic Services, in a February news release.
Here are Q4 financial results for some of the top waste management companies:
- Waste Management Inc., Houston, called 2018 a "record-setting year," with Q4 revenues at $3.84 billion compared with $3.65 billion Q4 of 2017, and revenue of $14.91 billion for the year.
- Republic Services Inc., Phoenix, reported Q4 revenues of $2.53 billion versus $2.56 billion for Q4 of 2017. Revenue growth from average yield was 2.7 percent, which was the company's highest level of average yield in nearly 10 years.
- Covanta of Morristown, New Jersey, reported Q4 revenues of $1.87 billion, up from $1.75 billion for Q4 of 2017.
- Waste Connections of Ontario, Canada, had Q4 revenues of $1.26 billion, up from $1.16 billion for Q4 of 2017.
- Advanced Disposal, Ponte Vedra, Florida, after making 12 acquisitions in 2018, reported a Q4 revenue of $394.8 million versus $384.4 million for Q4 of 2017.
- Casella Waste Systems Inc., Rutland, Vermont, reported Q4 revenue of 174.7 million compared to $151.2 million for Q4 of 2017.
Full reports can be found on www.WasteTodayMagazine.com.