Waste Management (NYSE: WM) reported Q3 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $3.6 billion versus the consensus estimate of $3.66 billion.

“Once again, our strong yield and cost controls delivered growth in our traditional solid waste business as income from operations grew $13 million and income from operations margin rose by 60 basis points compared to the third quarter of 2013 results,” commented David P. Steiner, President and Chief Executive Officer of Waste Management. (b) “For the sixth consecutive quarter, our yield exceeded both 2.0% and CPI. Our cost of operations improved by $26 million and as a percent of revenue improved 40 basis points compared to the prior year third quarter.

“These results demonstrate our commitment to growing the income generated from our operations, and in the third quarter we took another important step to expand our operating margins by reducing our corporate overhead costs. That action continued the alignment of our corporate leadership and staff with the needs of our field operations. It’s the natural progression from the 2012 restructuring of our field organization, which focused directly on better aligning our corporate and field leadership and empowering our customer-facing employees. We anticipate saving in excess of $100 million annually from these actions when fully implemented in 2015. This resulted in a restructuring charge of $0.09 per diluted share in the third quarter.”

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