Published Wednesday, April 30, 2008 6:15 AM
Waste company's earnings top $241M
HOUSTON -- Waste Management Inc.'s first-quarter income edged up just more than 1 percent as an ongoing strategy to dump or reprice work with low profit margins offset decreased volumes and fuel costs.
The nation's largest garbage hauler and landfill operator said Tuesday it earned $241 million, or 48 cents per share, in the quarter ending March 31. Revenue rose 2.5 percent to $3.27 billion.
Before one-time tax benefits, the company earned 47 cents per share. That compared with expectations of 46 cents per share on revenue of $3.2 billion, according to a survey of analysts polled by Thomson Financial. Those forecasts typically exclude one-time items.
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