7am News, Sports and Obits

Latest WGIL news
Click to play or
Right click and "Save Target As" to download
Click for Galesburg, Illinois Forecast
Home - Cancellations - Community Events - Contact Us - Mornings - News - Obituaries - Pictures - Programs - Special Events Audio - Sports - Weather
Waste Management's Earnings Down Due to Recycling
HOUSTON (AP) -- Waste Management, the nation's largest trash hauler, says its second-quarter profit fell sharply due largely to a continuing drop in recycling prices.

Net income was $247 million, or 50 cents per share, down 22 percent from $318 million, or 64 cents per share, last year.

Results included 2 cents per share for restructuring charges and the Houston-based company's withdrawal from a pension. Earnings would otherwise have been 52 cents per share.

Analysts surveyed by Thomson Reuters expected the Houston-based company to earn 54 cents per share on revenue of $3.02 billion.

Revenue for the quarter ended June 30 was $2.95 billion, down 15 percent from $3.49 billion a year ago.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
07 29 09 by Newsroom
News management powered by Xpression News

Click here for the WGIL News Archive

Click here for national news

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.