Dive Brief:
- Waste Connections' revenue in the second quarter reached $524.7 million, an increase of 7.2% compared to $489.4 million in revenue from the same timeframe one year ago.
- Operating income was $118.7 million, down from $93.1 million from the same time period last year.
- Adjusted EBITDA was $182.5 million as compared to $169.4 million during the same timeframe in 2013, for an increase of $7.7%.
Dive Insight:
The solid waste and recycling company remains "on track to exceed or to meet [its] original full year outlook for both revenue and EBITDA," according to CEO and chairman Ronald J. Mittelstaedt.
Waste Connections is proving itself as a force in the solid waste industry, and is focusing on smaller markets. In contrast to heavyweight Waste Management, Waste Connections usually services rural communities, and it making its way to the top using this market strategy. Waste Connections is the third largest waste company in the U.S., and is positioning itself to continue to increase profitability, as seen in the second quarter results.