Waste Management Q2 Profit Climbs, Expects To Meet Upper End Of FY17 Guidance

(RTTNews) - Waste Management, Inc. (WM) Wednesday reported second quarter net profit attributable to the company of $362 million, up from $287 million a year ago. Earnings per share increased to $0.81 from $0.64 in the year ago. On an adjusted basis, earnings were $329 million or $0.74 per share.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.81 per share. Analysts estimates usually exclude special items.

Revenue for the quarter rose to $3.677 billion from $3.425 billion in the same period last year. Wall Street expected revenue of $3.62 billion.

The company said it is on track to meet the upper end of its full-year 2017 guidance of adjusted earnings per share of between $3.14 and $3.18 and free cash flow of between $1.5 and $1.6 billion. For the full year, analysts projects $3.18 per share on revenue of $14.33 billion.

In the third quarter, the company expects to enter agreements to repurchase $500 million of its common stock.