Waste Management Inc., Oak Brook, reported record second-quarter earnings and sharply higher revenues.
For the period ended June 30, Waste Management`s earnings jumped 30 percent, to $54.4 million, or 52 cents a share, from $41.7 million, or 42 cents a share, in the year-earlier second quarter. Per-share earnings in 1985 were restated to reflect the 2-for-1 stock split in December, 1985.
Revenues rose 26 percent, to $491.1 million from $389.7 million.
Dean L. Buntrock, chairman and chief executive officer, attributed the gains to an ”excellent performance” by Waste Management of North America`s solid waste operations in the United States and Canada and the continued strengthening of Chemical Waste Management`s results through the first six months of the year.
