Date: February 10, 2005
Source: News Room
Waste Management has reported higher fourth quarter earnings and sales based on larger volumes and hurricane-related cleanup. The company recorded net income of $269 million, or 47 cents a share, up from $183 million, or 31 cents per share for the same period in 2003. Revenues for the quarter were $3.21 billion, up from $2.99 billion in 2003. The cleanup work added approximately $56 million in revenue and $7 million in pretax earnings. For 2004, the company had operating revenue of $12.52 billion, up from $11.65 billion in 2003. Waste Management expects earnings per share to run at the low end of analysts' estimates of $1.56 to $1.80 per share.
More information: www.wm.com.
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