Waste Management reports mixed results for 2012

Waste Management reports mixed results for 2012

By Editorial Staff, Resource Recycling

The nation's largest garbage and recycling firm saw revenues rise last year, while net income fell, due in part to weaker recycling commodity markets.

Waste Management, which employs 43,500 in 49 states (only Montana lacks a company facility), had revenues of $13.65 billion last year, up 2 percent. However, net income of $817 million in 2012 was down 15 percent.

One cause of lower income was a 14 percent decline in recycling revenues, to $1.36 billion. Waste Management operated 114 materials recovery facilities in 2012, up seven from the previous year. The slump in commodity prices in 2012 resulted in a negative impact of 25 cents per diluted share in the firm.

Company officials expect better times in 2013. For example, executives predict that the negative hit on company shares from recycling commodity prices will be only 2 cents per share this year.

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