WM's Recycle America sees 1Q decline of 14% on price, 8% on volume

摘要

The US's largest generator of recovered paper, Waste Management's (WM) Recycle America, recorded an 18.7% decline in revenue in the first quarter (vs first quarter 2014) because of a more than 14% decline in average recyclables pricing and an 8% decline in volume that was partly related to West Coast port delays. In an Apr. 29 report to analysts, company executives said the volume drop occurred from "contractual losses as we renegotiate contracts to include improved processing fee and rebate structures," WM pres/CEO David Steiner said, according to a Seeking Alpha transcript of the firm's earnings report.