Waste Management Q1 Profit Tops View - Quick Facts

(RTTNews) - Waste Management Inc (WM) said first-quarter net income increased to $228 million or $0.49 per share from $168 million or $0.36 per share for the first quarter of 2013.

In the first quarter of 2013, adjusted net income was $186 million or $0.40 per share.

On average, 10 analysts polled by Thomson Reuters expected earnings of $0.44 per share. Analysts estimates typically exclude special items.

Revenues advanced 1.8 percent to $3.40 billion from $3.34 billion. Analysts expected revenues of $3.41 billion.

Excluding a negative $17 million in foreign currency translation, revenue would have increased 2.3 percent.

At the beginning of the year, the firm expected that 2014 free cash flow would exceed $1.3 billion. With a strong first quarter, the company now expects to generate between $1.4 billion and $1.5 billion of free cash flow.