Waste Management Q2 Profit Beats View, Sees 2015 Earnings At High End Of Range

(RTTNews) - Waste Management Inc. (WM) posted second-quarter net income attributable to the company of $274 million or $0.60 per share, up from $210 million or $0.45 per share in the comparable quarter last year.

Excluding certain items, adjusted net income for the quarter was $306 million, or $0.67 per share, compared with $270 million or $0.58 per share in the year-ago period.

On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined 7 percent to $3.32 billion from $3.56 billion in the year-ago period. Analysts had a consensus revenue estimate of $3.33 billion for the quarter.

Looking ahead to fiscal 2015, Waste Management now expects adjusted earnings at the high end of its previously announced range of $2.48 to $2.55 per share. This is despite negative headwinds to earnings of between $0.07 and $0.10 per share from recycling operations and about $0.04 per share from the impact of foreign currency translation adjustments.