Waste Management Inc. (WM) announced an increase in its fourth-quarter profits compared to the previous year; however, these results fell short of Wall Street's expectations.
The company reported a net income of $598 million, translating to $1.48 per share, up from $493 million, or $1.22 per share, recorded in the same quarter last year.
On an adjusted basis, which excludes certain items, the company achieved earnings of $688 million or $1.70 per share for the quarter.
Analysts had projected earnings of $1.80 per share, typically omitting special items from their forecasts.
Revenue for the quarter experienced a 14.9% increase, reaching $5.893 billion, up from $5.127 billion in the prior year.
Summary of Waste Management Inc. (GAAP) earnings:
- Net Income: $598 million, compared to $493 million the previous year.
- Earnings Per Share (EPS): $1.48 versus $1.22 last year.
- Revenue: $5.893 billion, compared to $5.127 billion last year.
