Profits and Prophets: August
From August 2005
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Waste Connections Is Choosy About Solid-Waste Markets; Has Unify Found a Turnaround Direction? It Pays To Be a DRIP Investor
By Art Garcia
Fussy Strategy Pays Off For Waste Connections
When picking through possible trash-hauling markets to enter, Waste Connections is pretty picky. The Folsom-headquartered company’s growth is guided by an “opportunistic” strategy that considers “only the kinds of markets that make sense to us,” says Worthing Jackman, executive vice president and chief financial officer.
Taken public through an IPO seven years ago and jumping from the Nasdaq to the Big Board (NYSE, WCN) in October 2002, the integrated solid-waste services company operates in 22 states, mostly west of the Mississippi, with a few markets in the Southeast.
Primary growth will continue in the company’s “current footprint,” says Jackman, 40, promoted to his current position last August from vice president-finance and investor relations. “There could be one or two additional states we could move into over time.”
In total, Waste Connections has about 1.5 million customers. It also has 104 collection operations, 32 transfer stations, 26 recycling facilities, 34 active landfills and six intermodal facilities.
Continued...
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