Date: September 8, 2009
Source: News Room
Waste Management, Inc. said it expects the recent decline in natural gas prices to weigh on its third quarter, net earnings by about 4 cents per diluted share. In its recent presentation at the JPMorgan Investor conference on Sept. 16, the company explained that the decline in natural gas prices has affected the price at which it sells electricity through its many waste to energy operations. The company also commented on another part of its business that while recycling commodity prices have improved by 41% on average since the beginning of the year, volumes have "run generally flat" since the second quarter, and this was in line with previous expectations. The company plans to update its full-year forecast when it reports third-quarter earnings later this fall.
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