Waste Management: 2Q Earnings Snapshot
HOUSTON (AP) _ Waste Management Inc. (WM) on Thursday reported second-quarter earnings of $381 million.
On a per-share basis, the Houston-based company said it had profit of 89 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, came to $1.11 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The garbage and recycling hauler posted revenue of $3.95 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $3.94 billion.
Waste Management expects full-year earnings in the range of $4.28 to $4.38 per share.
Waste Management shares have climbed 30% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has increased 42% in the last 12 months.