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Waste Management Q4 profit climbs 25.6% YOY

Waste Management Inc. said its fourth-quarter normalized net income was 73 cents per share, compared with the S&P Capital IQ consensus estimate of 77 cents per share.

EPS increased 27.4% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $323.5 million, a gain of 25.6% from $257.5 million in the year-earlier period.

The normalized profit margin increased to 9.3% from 7.9% in the year-earlier period.

Total revenue increased 6.6% year over year to $3.46 billion from $3.25 billion, and total operating expenses climbed from the prior-year period to $2.84 billion from $2.74 billion.

Reported net income grew 24.4% year over year to $338.2 million, or 76 cents per share, from $271.9 million, or 60 cents per share.

For the year, the company's normalized net income totaled $2.78 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.92.

EPS rose from $2.27 in the prior year.

Normalized net income was $1.24 billion, a gain from $1.03 billion in the prior year.

Full-year total revenue grew year over year to $13.61 billion from $12.96 billion, and total operating expenses rose on an annual basis to $11.20 billion from $10.88 billion.

The company said reported net income grew on an annual basis to $1.18 billion, or $2.65 per share, in the full year, from $752.2 million, or $1.65 per share.