Waste Management Inc. (WMI) reported third quarter net income of $277 million, or $0.56 per diluted share, compared with $310 million, or $0.63 per diluted share in the prior year quarter.
Excluding items, earnings for the quarter was $265 million, or $0.54 per diluted share, compared with $312 million or $0.63 per diluted share in the previous year quarter.
On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share. Analysts' estimates typically exclude special items.
Revenues for the third quarter were $3.02 billion, down from $3.53 billion in the year-ago quarter. Eight analysts had a consensus revenue estimate of $3.07 billion for the quarter.
Looking ahead, the company reaffirms fully diluted earnings per share outlook on an adjusted basis for the full year to be in the range of $1.95 to $1.99. Analysts expects the company to earn $1.97 per share for full year.
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