Dive Brief:
- Progressive Waste Solutions released its fourth quarter and full-year results for 2014.
- Net income dropped 47.8% to $18.9 million in Q4, compared with $36.2 million in the fourth quarter of 2013.
- Also in the fourth quarter, revenue increased by 0.5% to yield results of $504.6 million, up from $502 million the year before.
Dive Insight:
Net earnings for the year increased 7.2% to $126.5 million, compared with $118 million in 2013. Revenue in 2014 dropped 0.8% to $2.01 billion, from $2.03 billion in 2013.
Joseph Quarin, president and CEO of Progressive Waste, said: “2014 was a transformational year… We put in place a great team that led Progressive Waste Solutions to achieve record results with strong growth in revenue, adjusted net income per share and free cash flow.”