U.S. Markets open in 8 hrs 4 mins

Waste Connections beats Street 4Q forecasts

VAUGHAN, Ontario (AP) _ Waste Connections Inc. (WCN) on Tuesday reported fourth-quarter net income of $85.6 million.

The Vaughan, Ontario-based company said it had profit of 49 cents per share. Earnings, adjusted for one-time gains and costs, came to 68 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The solid waste services provider posted revenue of $1.05 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.02 billion.

For the year, the company reported profit of $246.5 million, or $1.60 per share. Revenue was reported as $3.38 billion.

Waste Connections expects full-year revenue of $4.45 billion.

Waste Connections shares have increased slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $84.35, an increase of 36 percent in the last 12 months.

_____

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

_____

Keywords: Waste Connections, Earnings Report