By Denny Jacob

Waste Connections grew revenue in its latest quarter, aided in part by solid waste organic growth and improvements in commodity-driven revenues.

The waste services company posted net income of $126.8 million, or 49 cents a share, for the fourth quarter, down from $194.3 million, or 75 cents a share, a year earlier. Adjusted earnings were $1.11 a share, above analysts' estimates of $1.08 a share in adjusted earnings.

Revenue rose 8.9% to $2.04 billion from $1.87 billion, matching expectations of analysts polled by FactSet.

"Solid waste organic growth led by 8.7% core pricing was bolstered by improvements in commodity-driven revenues during the quarter, providing momentum for 2024," Chief Executive Ronald Mittelstaedt said.

For 2024, Waste Connections forecast revenue around $8.75 billion and net income of about $1.1 billion. Analysts polled by FactSet expected $8.72 billion in revenue and net income of $1.11 billion.

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(END) Dow Jones Newswires

02-13-24 1646ET