Weekly News Bulletin: Jul. 28-Aug. 3, 2021
Waste Disposal Pricing Higher as Economy Recovers
Waste disposal pricing continues its strong ride especially as the economy recovers and prices catch up after stalling somewhat during the pandemic. The average price to landfill a ton of MSW is closing in on $60 per ton. That is up 9.4 percent from a year ago and up nearly 8 percent since December 2020. Remarkably, average tipping fees rose almost 3% in 2020 to $54 per ton from $52.37 in 2019, despite COVID and the decline in 2020 tonnages.
Over the longer-term, landfill pricing, which had been growing at a steady clip of around 3.5 percent, stalled as companies and municipalities struggled to hang on to business from cash-strapped customers. Today's prices are reflective of the recovering economy, inflationary pressures, decreasing landfill capacity and pricing discipline exercised by the large waste companies...Read More »
Waste Management Q2 Best Ever Performance
| Waste Management, Inc. (WM) | ||
| Three Months Ended June 30 | ||
| (millions of $) | 2021 | 2020 |
| Revenue | $4,476 | $3,561 |
| EBITDA | $1,313 | $1,026 |
| EBITDA Margin | 29.3% | 28.8% |
| Net Income | $538 | $372 |
Waste Management (Houston, TX) reported Q2 earnings and revenue growth that exceeded all expectations, what CEO Jim Fish called "best ever financial performance by a substantial margin." A robust recovery in the company's commercial, industrial and landfill operations drove volumes up 9.6% to pre-pandemic levels compared to a decline of 10.3% last year in the thick of the pandemic. Acquisitions too, net of divestitures, added $305 million of revenue primarily from the acquisition of Advanced Disposal last year. Core pricing for the quarter was 6.2% compared to 1.3% in the second quarter of 2020...Read More »
Generate Capital Raises Another $2 Billion for Sustainable Infrastructure
Generate Capital (San Francisco, CA) has raised $2 billion in new funding from existing and new investors to back clean energy projects that build on its infrastructure-as-a-service model. Generate develops and operates projects that help businesses, governments and communities use energy more efficiently and cut their carbon emissions...Read More »
Noble Environmental Buys GFL Landfills in Pennsylvania
Noble Environmental (Canonsburg, PA) has acquired a group of nearby landfills, a transfer station, and some collection assets from GFL Environmental which had recently acquired them from Waste Management following its acquisition of Advanced Disposal last year. Noble, which started life in 2016 as Westmoreland Sanitary Landfill, also has its County Hauling subsidiary that serves western Pennsylvania. The acquired assets include Sandy Run Landfill, Chestnut Valley Landfill and Southern Alleghenies Landfill, as well as the Mountainview Landfill in Maryland. Noble also acquired the Diller Transfer Station in Enola, PA and hauling assets based in McClellandtown, PA...Read More »
Congress is Moving Closer to Regulating PFAS Contamination
As EPA takes steps to address per- and polyfluoroalkyl substances (PFAS) contamination, lawmakers from both parties and in both chambers are weighing making those responsible, including the military, industry, and others, clean it up. The Senate Armed Services Committee recently approved its annual defense authorization bill that sets deadlines for the Defense Department (DOD) to test for PFAS and then establish a schedule to clean up the chemicals...Read More »
Casella Expands in CT by Buying Willimantic Waste Paper
Casella Waste Systems, Inc. (Rutland, VT) says it has acquired Willimantic Waste Paper Co. (Willimantic, CT), a diversified waste and recycling company that serves over 30,000 customers with residential, commercial and roll-off collection services, operates a rail-served construction & demolition processing and waste transfer facilities, a single stream recycling facility, and several other recycling operations in eastern Connecticut. Casella expects the company to add $62 million of annualized revenues and marks its fifth acquisition this year...Read More »
Kinderhook Buys Live Oak Environmental
Kinderhook Industries LLC (New York, NY) has acquired Live Oak Environmental, LLC (Bossier City, LA), a waste collection and hauling business serving northwestern Louisiana. According to Live Oak President and CEO Roy Walters, "We are ecstatic to partner with Kinderhook and continue expanding our service offerings throughout the region." Waters is a 34-year veteran of the industry having previously served various management positions at Republic Services and before that Waste Management, Inc...Read More »
Green Meadow Buys Riverbend Environmental in Mississippi
Environmental services firm Green Meadow Sustainable Solutions (Fayette, MA) said it acquired Riverbend Environmental Services LLC which owns the Riverbend Landfill in Jefferson County, MS, and transfer stations in Vicksburg, MS, and Baton Rouge, LA. The company said it plans to invest heavily in "state-of-the-art" infrastructure upgrades and new equipment to ensure regulatory compliance and will maintain existing contractual partnerships with municipalities in the region, including transfer station operation and solid waste collection for the City of Brookhaven, MS, and surrounding counties...Read More »
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