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Allied Waste in the dumps
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November 9, 1999: 6:24 a.m. ET
Acquisition costs send 3Q results below estimates; sees weak 4Q, 2000
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NEW YORK (CNNfn) - Allied Waste Industries Inc. Tuesday reported third-quarter earnings below a consensus estimate, and said it expected weakness in fourth-quarter and 2000 results due to the continued effect of its acquisition of Browning-Ferris Industries.
The Scottsdale, Ariz.-based waste services company said its third-quarter earnings before the effect of acquisition-related expenses were $44.4 million, or 23 cents per diluted share. That's 5 cents below the consensus estimate of analysts surveyed by First Call.
Revenue for the quarter was $1.09 billion.
The company didn't offer historical comparisons because of the acquisition of Browning-Ferris, which was completed in July.
Allied Waste (AW) said fourth-quarter earnings are expected to be between 20 cents and 21 cents a share, below the 30-cent First Call consensus. It cited seasonal problems and an additional month of Browning-Ferris acquisition interest expense and preferred dividends.
Earnings for 2000 are projected at between $1.22 and $1.32 per share, below the $1.45 First Call consensus, reflecting what the company called a reduction in market development activities and a smaller base of operations.
Allied Waste shares closed unchanged Monday at 10-1/4. 
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Allied Waste
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