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Waste Management Shares Gain on Q3 Results

By Warren Paige

The United States’ largest waste disposal and recycling company, Waste Management Inc. (NYSE: WM) said on Tuesday that fiscal third quarter net income rose 36%, aided by the recent acquisition which bolstered the revenue. Nevertheless, the company’s recycling business continued to face headwinds. For the latest quarter, Waste Management reported net income of $291 million or 62 cents a share compared to a profit of $214 million or 46 cents a share, in the year ago period. Excluding onetime items, the adjusted earnings came in at 65 cents a share up from 61 cents. Revenue edged up 4.6% to $3.62 billion. Analysts surveyed by Thomson Reuters had expected earnings of 62 cents a share on revenue of $3.59 billion.

October 29th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.