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02-17-2011, 09:21 AM
NEW YORK (MarketWatch) -- Waste Management Inc. said Thursday its fourth-quarter net income fell to $281 million, or 59 cents a share, from $315 million, or 64 cents a share, in the year-ago period. Revenue rose to $3.19 billion from $3.01 billion. Excluding one-time items, the Houston company said it would have earned 60 cents a share in the most recent quarter. Analysts surveyed by FactSet Research were looking for earnings of 54 cents a share, on average, with sales of $3.2 billion. For 2011, adjusted earnings are forecast to be in a range of $2.24 to $2.30 a share, versus the Wall Street consensus of $2.25 a share. Shares of Waste Management closed Wednesday at $37.99, up a penny.
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