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Waste Connections Q2 profit falls YOY

Waste Connections Inc. said its normalized net income for the second quarter came to 32 cents per share, a decline of 7.5% from 34 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $59.0 million, a decline of 7.8% from $64.0 million in the prior-year period.

The normalized profit margin fell to 11.1% from 12.2% in the year-earlier period.

Total revenue increased on an annual basis to $531.3 million from $524.7 million, and total operating expenses rose year over year to $421.3 million from $406.9 million.

Reported net income declined 8.3% year over year to $57.2 million, or 31 cents per share, from $62.4 million, or 33 cents per share.