Waste services provider Waste Management, Inc. (
) on Thursday said its fourth quarter profit fell 11% from last
year, but adjusted results were enough to beat analyst
The Houston-based company reported fourth quarter net income of
$281 million, or 59 cents per share, compared with $315 million, or
64 cents per share, in the year-ago period. Excluding one-time
items, adjusted profit was 60 cents per share.
Revenue rose 6% from last year to $3.19 billion.
On average, Wall Street analysts expected a smaller profit of 54
cents per share, albeit on slightly higher revenue of $3.2
Looking ahead, the company forecast 2011 full-year earnings to
range from $2.24 to $2.30 per share, while analysts expect $2.25
per share for the year.
Waste Management shares were mostly flat in premarket trading
The Bottom Line
We have been recommending shares of Waste Management (
) since Aug.12, 2009, when the stock was trading at $28.85. The
company has a 3.32% dividend yield, based on last night's closing
stock price of $37.99.
Waste Management, Inc. (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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