HOUSTON (AP) _ Waste Management Inc. (WM) on Thursday reported first-quarter earnings of $347 million.
The Houston-based company said it had net income of 81 cents per share. Earnings, adjusted for asset impairment costs, came to 94 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The garbage and recycling hauler posted revenue of $3.7 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $3.67 billion.
Waste Management shares have increased 19 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. The stock has risen 30 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 WM at https://www.zacks.com/ap/WM