Waste Management Expects Higher Results With Recovery

Date: May 16, 2002

Source: News Room

Waste Management Inc. expects revenue and earnings to improve in 2002, but is anticipating an economic recovery, company chief executive Maury Myers said. The company is looking for revenues of $11.4 to $11.5 billion this year, slightly up from $11.3 billion in 2001, and plans to meet analysts' estimates that it will earn around $1.42 per share, up from 80 cents last year. Myers said the company expects to generate about $1.1 billion in free cash flow and make capital expenditures of $1.3 billion. Waste Management also began a program this year to buy back up to $1 billion in stock annually for the foreseeable future.

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