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Waste Management Q2 Profit In-Line with Expectations; Outlook Reaffirmed (WM)

Waste services giant Waste Management, Inc. ( WM

) on Thursday posted second quarter earnings that matched analyst expectations.

The Houston-based company reported second quarter net income of $246 million, or 51 cents per share, compared with $247 million, or 50 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 54 cents per share.

Revenue rose 7% from last year, to $3.16 billion.

On average, Wall Street analysts expected a matching adjusted profit of 54 cents per share, on smaller revenue of $3.1 billion.

The company noted that its operating margin rose to 18.6% from 18.1% last year, and that recycling commodity prices jumped 78%. WM also reaffirmed its full-year outlook.

Waste Management shares were mostly flat in premarket trading Thursday.

The Bottom Line

We have been recommending shares of WM since Aug.12, 2009, when the stock was trading at $28.85. The company has a 3.69% dividend yield, based on last night's closing stock price of $34.12.

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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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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