Dive Brief:

• Waste Management announced that revenue dropped 6.9% in the company's second quarter that ended in June.
• The dip in total revenue, Waste Management said, was due to a lower recycling revenue, a drop in fuel surcharge revenue, and a $27 million hit from foreign currency fluctuations.
• The company also reported a profit of $274 million for the quarter, or 60 cents a share, compared with $210 million, or 45 cents a year earlier. Profit increased due to lower provision for income taxes in the latest quarter.

Dive Insight:

Despite the drop in revenue, Waste Management President and CEO David P. Steiner says he is still content with the company's earnings.

"Our strong second quarter results reflect our continued commitment to disciplined core price growth and cost controls," he said. "Each of our net income, operating income and margin, operating EBITDA and margin, and earnings per diluted share improved when compared to the second quarter of 2014."

Waste Management's growth follows the recent actions it has taken. Within the last week, the company purchased D.C. Trash Service in Russellville, AR. It also recently filed a request to officials in Will County, IL to expand its Laraway Road landfill site by 606 acres.