Waste Management Reports Earnings

Date: May 2, 2002

Source: News Room

Waste Management Inc. has reported that first-quarter earnings rose 11 percent but missed Wall Street expectations. Waste Management reported net income was $138 million, or 22 cents per share, compared to $124 million, or 20 cents per share, a year ago. Excluding charges related to new accounting rules that have companies write off their books money lost on past merger and acquisition deals, Waste Management said it earned $155 million, or 25 cents per share. Analysts surveyed by Thomson Financial/First Call had expected 26 cents per share.

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