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Waste Management Q2 profit falls YOY

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Waste Management Q2 profit falls YOY

Waste Management Inc. said its normalized net income for the second quarter amounted to 54 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS fell year over year from 56 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $249.1 million, a decline from $261.8 million in the year-earlier period.

The normalized profit margin increased to 7.5% from 7.4% in the year-earlier period.

Total revenue decreased 6.9% year over year to $3.31 billion from $3.56 billion, and total operating expenses fell 6.2% on an annual basis to $2.81 billion from $2.99 billion.

Reported net income rose 30.5% on an annual basis to $274.8 million, or 60 cents per share, from $210.6 million, or 45 cents per share.