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Waste Management Q3 profit climbs 8.4% YOY

Waste Management Inc. said its third-quarter normalized net income amounted to 86 cents per share, compared with the S&P Capital IQ consensus estimate of 88 cents per share.

EPS rose 9.6% year over year from 79 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $379.3 million, an increase of 8.4% from $349.9 million in the prior-year period.

The normalized profit margin climbed to 10.2% from 9.9% in the year-earlier period.

Total revenue climbed year over year to $3.72 billion from $3.55 billion, and total operating expenses rose year over year to $3.01 billion from $2.88 billion.

Reported net income rose 26.5% from the prior-year period to $383.5 million, or 87 cents per share, from $303.1 million, or 68 cents per share.