Waste Management, Inc. (NYSE:WM) stock was up today following the release of its earnings report for the fourth quarter of 2017.
Waste Management, Inc. reported earnings per share of 85 cents for the fourth quarter of the year. This is an increase over its earnings per share of 75 cents that was reported in the fourth quarter of the previous year. It was also a boon to WM stock by beating out Wall Street’s earnings per share estimate of 83 cents for the period.
Operating income reported by Waste Management, Inc. for the fourth quarter of 2017 was $704 million. The garbage disposal company’s operating income from the same period of the year prior was $617 million.
During the fourth quarter of the year, Waste Management, Inc. reported a net loss of $120 million. This is a wider net loss than the $107 million that it reported for the fourth quarter of 2016.
Waste Management, Inc.’s revenue of $3.65 billion for the fourth quarter of 2017 was also a blessing to its stock. This is up from its revenue of $3.46 billion that was reported during the same time last year. It also comes in above analysts’ revenue estimate of $3.57 billion for the quarter.
Waste Management, Inc. also provided an outlook for the full year of 2018 in its most recent earnings report. The company expects earnings per share for the year to range from $3.97 to $4.05. Wall Street is estimating earnings per share of $3.68 for the full year of 2018.
Waste Management, Inc. is also expecting revenue for the year to increase by 4% or more. The company’s revenue for 2017 was $14.49 billion. Analysts are looking for revenue of $14.92 billion for the year.
WM stock was up 1% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.