Waste Management Q4 Profit Declines, But Results Beat Estimates - Quick Facts

(RTTNews) - Waste Management Inc. (WM) on Thursday reported net income for the fourth quarter of $438 million or $1.03 per share, down from $447 million or $1.05 per share in the year-ago period.

Adjusted earnings for the quarter were $1.13 per share, compared to $1.19 per share in the prior-year period.

However, revenue for the quarter rose to $4.07 billion from $3.85 billion last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.09 per share for the quarter on revenues of $3.97 billion. Analysts' estimates typically exclude special items.

For fiscal 2021, Waste Management forecast revenue growth between 10.75 percent and 11.25 percent. The Street expects the company to report earnings of $4.62 per share for the year on revenue growth of 11.8 percent to $16.92 billion.

The company also said its board of directors has indicated its intention to increase the dividend by $0.12 per share to $2.30 on an annual basis for an approximate annual cost of $975 million.