Texas-based Waste Connections Inc. has posted fourth quarter 2013 revenue totalling $485.9 million, an 8.3 per cent increase over revenue of $448.8 million in 2012.
The company’s operating income was $99.1 million compared to $80.2 million in the fourth quarter of 2012.
Adjusted EBITDA in the fourth quarter was $164.5 million, or 33.9 per cent of revenue, compared to $142.3 million, or 31.7 per cent of revenue, during the same period in 2012.
Net income attributable to Waste Connections in the quarter was $49.4 million, or $0.40 per share on a diluted basis of 124.4 million shares. In the same period during 2012, the company reported net income attributable to Waste Connections of $36.0 million, or $0.29 per share on a diluted basis of 123.7 million shares.
"Continuing strength in solid waste disposal volumes, E&P waste and roll off activity enabled us to exceed the upper end of our fourth quarter outlook and provide a good entry point into 2014. We met our full year 2013 adjusted free cash flow target of$300 million despite pulling forward into 2013 an additional $20 million of capital expenditures and constructing our new E&P landfill in the West Texas Permian," said Ronald Mittelstaedt, chairman and CEO, in a statement.
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