Waste Management: 3Q Earnings Snapshot
HOUSTON (AP) _ Waste Management Inc. (WM) on Wednesday reported third-quarter net income of $495 million.
On a per-share basis, the Houston-based company said it had net income of $1.16. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.19 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The garbage and recycling hauler posted revenue of $3.97 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $4 billion.
Waste Management expects full-year earnings in the range of $4.28 to $4.38 per share.
Waste Management shares have climbed 31% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has climbed 30% in the last 12 months.