Waste Services Sees 2010 Earnings Boost From Buys
DOW JONES NEWSWIRES
Waste Services Inc. (WSII) on Monday completed two acquisitions in Florida for
$48 million, moves that the solid-waste company said would boost earnings next
year.
The acquisitions are expected to add $28 million in annual revenue. In 2010,
the transactions are expected to boost earnings by 5 cents to 7 cents a share.
Some of the assets, including operational facilities, will become redundant and
be sold to reduce the deal's investment.
Over the near term, the deal is expected to put earnings at the top end of the
company's 2009 guidance of 38 cents to 40 cents a share.
Waste Services closed its acquisition of Republic Services Inc.'s (RSG)
operations and related assets in Miami-Dade County, Fla., and in a separate
transaction, the Miami-Dade operations of DisposALL Inc. The acquired customers
are expected to be integrated into the company's existing route structure within
three months.
Shares were recently unchanged in after-hours trading, after rising 5.6% in
the regular session.
-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com
(END) Dow Jones Newswires
10-05-091636ET
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