Waste Management Q4 Profit Falls 11%, but Still Beats View (WM)

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Waste services provider Waste Management, Inc. ( WM ) on Thursday said its fourth quarter profit fell 11% from last year, but adjusted results were enough to beat analyst expectations.

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 billion.

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 Thursday.

The Bottom Line
We have been recommending shares of Waste Management ( WM ) 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. ( WM ) 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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