Waste Management (WM) Tops Q1 EPS by 1c

Waste Management (NYSE: WM) reported Q1 EPS of $0.49, $0.01 better than the analyst estimate of $0.48. Revenue for the quarter came in at $3 billion versus the consensus estimate of $3.18 billion.

David P. Steiner, President and Chief Executive Officer of Waste Management, commented, “We are pleased with our first quarter results. We continue to see the benefit from disciplined core price growth and cost controls. Our adjusted net income, operating income and margin, and earnings per diluted share improved when compared to the first quarter of 2014, despite year over year headwinds of $0.03 per diluted share from lower recycling commodity prices and the unfavorable impact of foreign currency fluctuations.

“During the first quarter, we re-invested a portion of the proceeds from the sale of our waste-to-energy business. We completed the acquisition of Deffenbaugh Disposal. Once fully integrated, Deffenbaugh should add about $52 million of annual operating EBITDA.(b) We also refinanced high interest rate notes to generate interest savings in 2015 and beyond.”

For earnings history and earnings-related data on Waste Management (WM) click here.

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