DAILY NEWS Jul 29, 2014 11:45 AM - 0 comments

Progressive Waste Q2 net income up 28 per cent over 2013

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By: SWR Staff

Vaughan, Ontario-based Progressive Waste Solutions Ltd. reports that its 2014 second quarter net income climbed 28 per cent to $40.9 million versus $32.3 million in the second quarter of 2013.

Net profits rose eight per cent to $66.8 million in the first half of 2014, compared with $61.6 million a year earlier. Revenue dropped two per cent to $983.3 million from $1 billion in 2013.

“We performed well on many measures in the second quarter, and we are making progress on several components of the strategic plan we initiated to improve EBITDA margins and free cash flow through operational excellence,” Joseph Quarin, Progressive president and CEO, said in a statement.

Progressive’s operating income was $78.1 million in the second quarter of 2014 versus $64.6 million in the second quarter of 2013.

For the full financial details of Progressive’s Q2, please click here.

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