Saturday, August 1, 2009

Waste Management Profits Fall 22%

Waste Management came out with earnings on Thursday. They posted a 22% drop in profits from the prior year. Revenue also fell from $3.49 billion to $2.95 billion. Management attributed the results to lower prices for recycled materials and lower volumes. EPS was .50 a share, while analyst were expecting .52 cents. The results from Q2 did improve from Q1 when EPS was .30 cents a share.

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