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Increased recycling commodity rebates and fuel costs drove the increase in operating expenses as a percent of revenue.
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Average recycling commodity prices at the company’s recycling facilities were almost 70 percent higher in the first quarter of 2017 than in the prior year period.For both the total company and the traditional solid waste business, internal revenue growth from volume was positive 1.9 percent in the first quarter of 2017, or 1.4 percent after adjusting for one additional workday in the current quarter.Its internal revenue growth from yield for collection and disposal operations was 2 percent.
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This performance led to us exceeding our internal targets for operating EBITDA and free cash flow.” Operating EBITDA (earnings before interest, taxes, depreciation and amortization) grew 8 percent due to strength in both our traditional solid waste business and our recycling business, which in turn drove strong first quarter cash flows. On an as-adjusted basis, we saw earnings growth of almost 14 percent. Jim Fish, president and CEO of Waste Management, comments, “We are pleased with our strong first quarter results as we met or exceeded all of our internal targets. The company’s as-adjusted first quarter 2017 results exclude a 7 cent per diluted share tax benefit related to equity-based compensation and a noncash charge of 6 cents per diluted share related to the impairment of an equity investment in a waste diversion technology company. On an as-adjusted basis, excluding certain items, net income was $291 million, or 66 cents per diluted share, in the first quarter of 2017. Net income for the quarter was $298 million, or 67 cents per diluted share, compared with $258 million, or 58 cents per diluted share, for the first quarter of 2016. Revenues for the first quarter of 2017 were $3.44 billion compared with $3.18 billion for the same 2016 period. Waste Management Inc., Houston, has announced financial results for its quarter ended March 31, 2017. The last day to submit questions is by 3 p.m. Questions regarding this RFP must be submitted in writing following instructions within the RFP. This meeting will be held at the Horn Rapids Landfill, 3102 Twin Bridges Road, Richland, Washington.
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Information on how to register is available on the city's website at Prospective proposers are strongly encouraged to attend the pre-proposal meeting at 9 a.m. 17-0050, is available at Companies not already registered with Public Purchase will have to register in order to obtain access to this RFP. The Horn Rapids Landfill Gas-to-Fuel Project RFP, No. The city invites such developers to submit proposals to provide financing, design, site preparation, equipment installation, operation and marketing services. The city is seeking to enter into a long-term LFG purchase agreement with a qualified full-service developer who will convert the LFG into renewable natural gas.
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The current landfill cell is expected to reach capacity in 2020, after which the LFG collection system will be expanded. The city of Richland owns and operates the Horn Rapids Landfill, an active municipal solid waste (MSW) disposal site with a landfill gas (LFG) collection system. EPA Landfill Methane Outreach Program (LMOP) has announced information about a request for proposals (RFP) from the city of Richland, Washington.