Caraustar Industries announced today that it is converting 2 older production facilities in Saginaw, MI into one new facility to produce recycled paperboard products. Because the newer facility has a better, more modern design, the company will be able to improve productivity while saving on the cost of maintaining two separate plants, direct labor costs, and some annual fixed costs.
Paul Curtis, Caraustar’s VP and regional manager, explained the significance of the move for his … Read the rest
Coverted Organics (COIN) just surged about 10% intraday on news of a strategic partnership with Archer Daniels Midland (ADM) to develop organic liquid based and solid fertilizers for use in the professional turfgrass market and will have access to ADM’s patent pending technology.… Read the rest
Darling International (DAR), recycler extraordinaire of fryer grease for biofuels, reported strong results after the bell today but missed on EPS. They reported .28/share which was 1 cent shy of analyst estimates but still an 87% increase over the year ago quarter. Revenues came in strong as well, up 37% over the year ago quarter to 236.2 million.
CEO, Randall Stuewe, said, “We are proud of the exceptional results our team delivered for third quarter. … Read the rest
Clean Harbors released its 3rd quarter results this morning. Compared to this quarter last year, revenue has has increased 11 percent, rising from $245.5 million in 2007 to 273.2 million today. Income from operations also increased, going from $25.9 million last year to $31.3 million, an increase of 21%. However, net income for shareholders rose to $14.6 million this year from $12.9 million last year. However, due to an .11 per share charge from … Read the rest
Caraustar Industries, a maker of recycled paper products, just released their 3rd quarter results. Before restructuring and impairment costs are accounted for, the company posted a net income that rose just slightly from their net income this time last year, $7 million compared to $6.2 million. However, this year they posted a net loss from continuing operations of $75.4 million, or $2.63 per share. That’s a drop from this time in 2007, when they posted … Read the rest
American Ecology released its third quarter results today. Operating income was 6.8 million, an increase of 3% from last year. Revenue was $41.1 million, an increase of 4% from last year. Gross profit decreased 2%, from $10.2 million this time last year to $10 million this year. However, the gross profit figure from last year included a large, one-time adjustment of $797,000 to closure and post-closure obligations, so the change isn’t as great as … Read the rest
Casella Waste Systems (CWST) announced that operations are ahead of schedule at its Clinton County gas to energy plant, which is expected to produce 4.8MW of energy from landfill methane gas for the next 30 years. That would be enough to power over 5000 homes each and every year. In total, the company and its partners are producing about 25MW/hour of clean energy at five landfills
“With our resource transformation business strategy, we are … Read the rest
Converted Organics announced yesterday that it would grant shareholders a dividend of 3 shares of common stock for each 20 shares of common stock. Dividends will be paid to all shareholders who have at least 20 shares of the stock on November 17, 2008 and will be paid December 1st, 2008.
According to Edward Gildea, President of Converted Organics,
… Read the rest"Converted Organics believes that the current price of its common stock does not reflect the long-term
Given the current economic situation, Covanta Holding Corp’s 3rd quarter results contained a welcome surprise. The company, which turns municipal waste into renewable energy, saw its earnings increase by 29% to $49.7 million, or 32 cents a share, compared with $38.4 million, or 25 cents a share, at this time last year. Covanta also saw total operating revenue increase to 439.0 million, a 25% jump. This beats analysts expectations and backs the company’s prediction of … Read the rest
Advanced Environmental Recycling Technologies, a company that reclaims waste plastic and turns it in to green building material, received notice that NASDAQ has temporarily suspended a rule requiring all listed stocks to have a share price of at least $1.00. NASDAQ has decided to stop enforcing the rule temporarily, until January 19, 2009.
Advanced Environmental Recycling Technologies was already being given a grace period from the requirement. If their share price is still below a … Read the rest