WM 3Q Profit Rises on Organic Growth, Lower Operating Costs
24 Octubre 2023 - 4:43PM
Noticias Dow Jones
By Ben Glickman
WM logged a higher profit in the third quarter that topped
analysts' estimates as the company saw organic growth and lower
operating costs.
The Houston-based garbage- and recycling-services provider,
previously known as Waste Management, posted a profit of $663
million, or $1.63 a share, in the third quarter, compared with $639
million, or $1.54 a share, a year earlier. Analysts polled by
FactSet expected per-share earnings of $1.60.
Revenue rose 2.4%, to $5.2 billion, missing the $5.27 billion
expected by analysts polled by FactSet.
The company's volumes increased 1% on a workday-adjusted
basis.
Chief Executive Jim Fish said that organic growth in its
collection and disposal business, as well as lower operating costs
and reduced selling, general and administrative expenses boosted
margins and earnings in the quarter.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 24, 2023 17:28 ET (21:28 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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