Waste Management Increases 2016 Cash Flow, EPS Guidance - Quick Facts

(RTTNews) - Waste Management, Inc. (WM) increased its adjusted earnings per share guidance to between $2.83 and $2.86 for the full year, a $0.09 to $0.12 increase from the low end of previous guidance. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.81. Analysts' estimates typically exclude special items.

The company has raised its free cash flow guidance for 2016 to between $1.6 and $1.7 billion, a $100 to $200 million increase from the low end of previous guidance.

Second-quarter net income was $287 million, or $0.64 per share, compared to $274 million, or $0.60 per share, for the second quarter of 2015. On an as-adjusted basis, excluding certain items, net income was $329 million, or $0.74 per share, compared with $306 million, or $0.67 per share, in the second quarter of 2015. Revenues for the second quarter of 2016 were $3.43 billion compared with $3.32 billion for the same 2015 period.