Progressive Waste Solutions (BIN) Prelim Q3 Revenue Misses

Progressive Waste Solutions (NYSE: BIN) today announced certain preliminary financial results for the three months ended September 30, 2015 and provided a business update.

The Company emphasizes that these results are unaudited and preliminary, and its actual results may vary. Results were translated at an average exchange rate US$0.7637 for each Canadian dollar. Results for the third quarter of 2015 will be reported by the Company on Friday, October 30, 2015.

-- The Company expects to report consolidated revenues for the third quarter of approximately $489 million. -- The Company expects to report consolidated adjusted EBITDA(A) for the third quarter of approximately $127 million, reflecting higher operating costs than anticipated primarily in its West region and the impact of lower foreign currency exchange. -- The Company is updating its 2015 outlook to reflect these higher operating costs as well as its expectations for costs in its West region in the fourth quarter of 2015. The updated outlook also reflects a more cautious view of waste volumes in parts of western Canada for the fourth quarter of 2015.

(Streets sees Q3 revenue of $495.39 million).

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