Waste Management Q1 Results Beats View; Expects To Meet Or Beat FY16 EPS Outlook

(RTTNews) - Waste Management, Inc. (WM) reported Thursday that its first-quarter attributable net income was $258 million or $0.58 per share, compared with a net loss of $129 million or $0.28 per share a year ago. The prior year's adjusted net income would have been $227 million, or $0.49 per share.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.55 per share. Analysts' estimates typically exclude special items.

Operating revenues were $3.182 billion, 4.5% higher than $3.04 billion for the same 2015 period. Analysts were looking for revenues of $3.08 billion.

The revenue increase was driven by positive yield and volume in the Company's collection and disposal business.

Total company volumes turned positive for the first time since 2012.

Looking ahead, the company said it expects the momentum to continue through 2016 and expect to meet or exceed our full-year 2016 guidance of adjusted earnings per share between $2.74 and $2.79. Analysts expect earnings of $2.77 per share.