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Waste Connections beats Street 1Q forecasts

VAUGHAN, Ontario (AP) _ Waste Connections Inc. (WCN) on Wednesday reported first-quarter net income of $14.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Vaughan, Ontario-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The solid waste services provider posted revenue of $1.09 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.08 billion.

Waste Connections shares have increased 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $89.51, a rise of 39 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WCN at https://www.zacks.com/ap/WCN

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Keywords: Waste Connections, Earnings Report