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Waste Management tops 3Q earnings expectations, misses revenue forecasts

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HOUSTON — Waste Management Inc. (WM) on Wednesday reported profit of $270 million in its third quarter.

On a per-share basis, the Houston-based company said it had profit of 58 cents. Earnings, adjusted for one-time gains and costs, were 72 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The garbage and recycling hauler posted revenue of $3.6 billion in the period, which missed Street forecasts. Analysts expected $3.66 billion, according to Zacks.

For the current quarter ending in December, Waste Management expects its per-share earnings to be 60 cents.

The company expects full-year earnings to be $2.41 per share.

Waste Management shares have risen roughly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 8 percent. The stock has increased 11 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. WM stock research report from Zacks.

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Keywords:Waste Management,Earnings Report

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