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Waste Management Q2 profit climbs 14.0% YOY

Waste Management Inc. said its second-quarter normalized net income amounted to 81 cents per share, compared with the S&P Capital IQ consensus estimate of 81 cents per share.

EPS rose 14.6% year over year from 71 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $360.4 million, a gain of 14.0% from $316.0 million in the year-earlier period.

The normalized profit margin rose to 9.8% from 9.2% in the year-earlier period.

Total revenue climbed 7.4% on an annual basis to $3.68 billion from $3.42 billion, and total operating expenses climbed 6.7% year over year to $3.00 billion from $2.81 billion.

Reported net income increased 25.9% on an annual basis to $360.0 million, or 81 cents per share, from $285.9 million, or 64 cents per share.