April 29, 2008

The Envirobiz Waste Business Update (formerly the Chartwell Waste Industry Update) is distributed weekly. The Update's purpose is to provide stakeholders with weekly summaries of important developments in solid waste management.

1. VEOLIA PARTNERS WITH ESG FOR NEW INDIANA LFG PLANT

Veolia Environmental Services and Energy Systems Group have reached an agreement to develop a landfill gas-to-energy project in southwestern Indiana. The 3.2 Megawatt project is a partnership between the Veolia ES Blackfoot Landfill in Winslow, Indiana and ESG Biofuels, LLC. Energy Systems will design, build, own and operate a power generation facility on-site. The first phase of the project will be for 1.6 Megawatts of power.

2. STERICYCLE POSTS PROFIT FOR FIRST QUARTER OF 2008

Stericycle Inc. has posted a profit of $31.7 million, or $0.35 per share, for the first quarter of 2008, as compared with a profit of $29.4 million, or $0.32 per share, in the first quarter of last year. Revenue grew 21 percent to $254.8 million from $211 million. Analysts polled by Thomson Financial forecast earnings of $0.38 per share; exclusive of one-time charges, Stericycle recorded profits of $0.39 per share

3. american ecology records record results

American Ecology (NASDAQ: ECOL) has reported record results for the first quarter of 2008. Net income was $5.9 million, or $0.32 per share, for the quarter, up 19 percent from $4.9 million, or $0.27 per share, in the first quarter of last year. Operating income was a record $9.5 million, a 20 percent increase over last year, and revenue was $46.2 million, up 19 percent from last year. 

4. HAWAII WASTE-TO-ENERGY PROPOSAL IN JEOPARDY

Plans to build a $125 million waste-to-energy plant in Hilo, Hawaii are in serious jeopardy now that a local finance committee has voted 6 to 3 against the idea. Wheelabrator Technologies has spent ten years and $1 million on a proposal to construct and operate a facility that would replace Hawaii County’s South Hilo landfill, which is scheduled to reach capacity in 2012. The proposal will only carry if two members who voted against the proposal change their votes before May 7.

5. WASTE MANAGEMENT REPORTS SLIGHT INCREASE IN Q1 PROFIT

Waste Management’s first-quarter profit increased slightly more than 1 percent, with higher prices offsetting lower volumes and higher fuel costs. Waste Management earned $241 million, or $0.48 per share, up from $238 million, or $0.45 per share, in the same quarter in 2007. Revenue grew 2.5 percent from $3.19 billion to $3.27 billion.

6.  REPUBLIC SERVICES REPORTS FIRST QUARTER EARNINGS

Republic Services has reported that revenue for the three months ended March 31, 2008 increased 1.8 percent to $779.2 million, up from $765.6 million for the same period in 2007. Internal growth over that period was 3.7 percent, with a 6.2 percent increase from price offset by a 2.5 percent decrease from volume. Net income for the period was $76.1 million, or $0.41 per share, as compared to $53.9 million, or $0.28 per share, for the first quarter of 2007.
 

The Chartwell Solid Waste Digest (www.wasteinfo.com) and the EI Hazardous Waste Digest (www.envirobiz.com) that are sourced in the Updates are both subscription-based market research services of The Envirobiz Group. Please contact our service center at 952-831-2473 or email: ei@enviro-information.com for further information.