Waste Management Turns To Profit In Q4; Provides FY15 Adj. EPS Outlook

(RTTNews) - Waste Management Inc. (WM) posted fourth-quarter net income attributable to the company of $590 million or $1.28 per share, compared to net loss of $605 million or $1.29 per share in the comparable quarter last year.

Excluding certain items, net income would have been $308 million, or $0.67 per share, in the fourth quarter of 2014 compared with $263 million, or $0.56 per share, in the fourth quarter of 2013.

Revenues for the latest fourth quarter dropped to $3.44 billion from $3.50 billion for year-ago period.

On average, 9 analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share and revenues of $3.49 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

For fiscal 2015, the company expects adjusted earnings to be in the range of $2.48 to $2.55 per share. Analysts expect annual earnings of $2.48 per share.