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  • WM Adds Waste Transport Firm

    Waste Management Inc.’s (NYSE:WMNews) subsidiary Waste Management of West Seneca has acquired Reliable Environmental Transport (“RET”), one of the most respected full-service hazardous/non-hazardous waste transportation firms in the Tri-State area. The acquisition will provide Waste Management a leading edge in servicing customer needs.

    Bridgeport, West Virginia based Reliable Environmental Transport caters to key industries such as Gas & Oil, Utility Companies, Pulp and Paper, Waste Treatment Plans, Steel Manufacturing, Railroad Companies, Convenience Stores and Environmental Engineering & Architectural Firms. It services and holds waste transportation permits in various states of the North East. These states include, but are not limited to West Virginia, Ohio, Pennsylvania, Maryland, New York, and Virginia.

    The president of RET, Jonathan Marks, will now be director of gas and hazardous waste services for West Management’s Upstate New York, Western Pennsylvania and West Virginia market.  

    Waste Management offers single-source environmental management services to oil and natural gas producers that include transportation, storage, recycling, treatment and disposal processes. The acquisition is a strategic fit for the company.

    Waste Management’s adjusted EPS in fiscal 2011 was $ 2.14 compared with $ 2.09 in the previous year, surpassing the Zacks Consensus Estimate of $ 2.11 and at the low end of the company’s guided range of $ 2.14–$ 2.18.  Revenues increased 7% to $ 13.4 billion, ahead of the Zacks Consensus Estimate of $ 13.3 billion.

    Waste Management expects 2012 adjusted EPS to lie between $ 2.22 and $ 2.30. The Zacks Consensus Estimate stands at $ 2.27. Internal revenue growth from yield on the collection and disposal business is expected to be in the range of 1.0% to 1.5%. Yield in the second half is expected to improve from the first half. Internal revenue growth from volume is expected to be flat to slightly positive.

    Waste Management’s ability to cut costs will help in maintaining profits despite weak volumes. Lower trending recycling prices, lower volumes, commodity headwinds and continued margin deterioration nonetheless remain causes of concern. Backed by its strong cash flow, the company has increased its dividend for eight consecutive years.

    The acquisition of Oakleaf Global Holdings in 2011 will provide North American customers with unprecedented access to waste and recycling solutions by pairing the largest network of directly owned hauling, recycling, diversion and disposal assets with the largest managed third-party network.

    Waste Management is the largest provider of comprehensive waste management services in North America. The company provides collection, transfer, recycling and resource recovery, as well as disposal services to nearly 20 million residential, commercial, industrial and municipal customers. It competes with Republic Services, Inc. (NYSE:RSGNews) and Casella Waste Systems Inc. (NasdaqGS:CWSTNews). Waste Management currently maintains a Zacks #3 Rank (Hold) on its stock for the short term.

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