HOUSTON (AP) — HOUSTON (AP) — Waste Management Inc. (WM) on Wednesday reported fourth-quarter profit of $742 million.
The Houston-based company said it had profit of $1.83 per share. Earnings, adjusted for non-recurring costs, came to $1.93 per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The garbage and recycling hauler posted revenue of $6.31 billion in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $6.39 billion.
For the year, the company reported profit of $2.71 billion, or $6.70 per share. Revenue was reported as $25.2 billion.
Waste Management expects full-year revenue in the range of $26.43 billion to $26.63 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WM at https://www.zacks.com/ap/WM
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