Waste Management Inc.’s second quarter report for 2014 shows a slight dip in net income for the Houston-based industry leader.
Net income for Q2 2014 declined 13.9 per cent to $210 million, or 45 cents per diluted share, compared with $244 million from the second quarter of 2013.
The dip in net income is attributed to WM’s divestment of its operations in Puerto Rico, the company says.
“Our strong yield and cost controls delivered growth in income from operations, operating EBITDA, and adjusted earnings per share when compared to second quarter 2013 results,” says David Steiner, president and CEO of Waste Management.
Revenue for the second period, however, jumped 0.8 per cent to $3.56 billion from $3.53 billion, the company says.
For WM’s complete Q2 breakdown, please click here.