Waste Management Inc (WM) has reported a higher than expected profit for the fourth quarter.
The company's net income for the period is $493 million, or $1.22 per share. This represents a slight decrease from the $499 million, or $1.21 per share, recorded in the same quarter of the previous year.
However, when excluded certain one-off items, Waste Management Inc's adjusted earnings for the quarter were $703 million or $1.74 per share.
The reported earnings exceeded analysts' average estimates of $1.53 per share, according to data derived from Thomson Reuters. It should be noted that these estimates usually do not consider special items.
In terms of revenue, the company observed a 5.7% increase to $5.22 billion, up from $4.94 billion recorded in the same period last year.
To summarise Waste Management Inc's earnings in simple terms (using Generally Accepted Accounting Principles):
- Neat income for Q4 this year was $493 million compared to $499 million for Q4 last year.
- Earnings Per Share (EPS) for Q4 were $1.22, which is slightly more than $1.21 from Q4 last year.
- The analysts' earnings estimate was $1.53 per share.
- The quarterly revenue rose to $5.22 billion this year from $4.94 billion last year.
