Waste firms turn eyes toward the bottom line.(Brief Article)
Waste News, August, 2001 by Duff, Susanna
Publicly traded waste firms have fallen in line with investors' current direction. Growth companies are out. Revenues are in. ``Free cash flow - that's become typical for the whole industry,'' said Leone Young, an environmental services analyst for Salomon Smith Barney. Waste Management Inc., which is recovering from its difficulties two years ago, realized it couldn't keep growing at its previous fast rate, said Ron Jones, the company's chief financial officer.
At the same time, it noticed the direction investors were headed. ``Suddenly, cash flow mattered,'' Jones said. Now the company is focused on its North American operations, reducing its debt and increasing its profit margins. Waste companies are still making acquisitions, but not...
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