Waste Connections Inc. said its first-quarter normalized net income amounted to 29 cents per share, an increase from 28 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $54.3 million, a gain from $52.3 million in the year-earlier period.
The normalized profit margin dropped to 10.6% from 10.9% in the year-earlier period.
Total revenue rose 5.1% on an annual basis to $506.1 million from $481.7 million, and total operating expenses increased 5.8% year over year to $402.8 million from $380.9 million.
Reported net income grew 7.4% year over year to $52.2 million, or 28 cents per share, from $48.6 million, or 26 cents per share.
