HOUSTON (AP) - Waste Management Inc. (WM) on Thursday reported fourth-quarter earnings of $447 million.
On a per-share basis, the Houston based company said it had profit of $1.05. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were $1.19 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The garbage and recycling hauler posted revenue of $3.85 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $3.95 billion.
For the year, the company reported profit of $1.67 billion, or $3.91 per share. Revenue was reported as $15.46 billion.
Waste Management shares have increased 10% since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 5%. The stock has risen 27% in the last 12 months.