Progressive Waste Solutions Q1 Earnings Down, Meet Street View

(RTTNews) - Progressive Waste Solutions Ltd. (BIN) (BIN.TO) Friday reported a drop in earnings as well as revenues for the first quarter. Earnings, however, were in line with analysts' estimates.

For the first quarter, earnings decreased to $25.92 million or $0.23 per share, from $29.34 million or $0.25 per share a year earlier.

Excluding certain items, earnings was $24.75 million or $0.21 per share, compared with $27.09 million or $0.24 per share a year ago.

On average, 14 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.21 for the quarter. Analysts' estimates typically exclude one-time items.

For the three months to March, adjusted EBITDA declined by 12.5 percent to $112.9 million from $129.1 million a year earlier.

Revenues for the 3-month period decreased to $469.77 million from $486.56 million in the corresponding period last year. Analysts had expected revenues of $471.17 million for the quarter.

The board has recommended a quarterly dividend of C$0.15 per share, payable on July 15 to shareholders of record on June 30.