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Waste Management loss $605 million

Staff writer ▼ | February 19, 2014
Waste Management Inc. reported a loss of $605 million, or $1.29 a share, from earnings of $224 million, or 48 cents, a year earlier.
Waste Management
Waste ManagementWaste Management Inc. reported a loss of $605 million, or $1.29 a share, from earnings of $224 million, or 48 cents, a year earlier.


Excluding asset impairment costs, restructuring charges and other special items, per-share earnings ticked down to 56 cents from 57 cents.

Revenue rose 1.9% to $3.5 billion, while costs and expenses rose 33% to $3.9 billion. The company said recycling operations hurt earnings by three cents a share in the latest period. For the full year, recycling operations negatively affected earnings by 12 cents a share, 10 cents more than anticipated.

Internal revenue growth from yield for collection and disposal operations was 2.4%, compared to a yield of 0.9% in the year-ago period. Core price increases, which consist of price increases and fees, excluding fuel surcharges, net of rollbacks, were 4%, compared with 2.5% a year earlier.


 

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