Date: October 28, 2003
Source: News Room
Higher fuel and insurance costs combined to depress Waste Management's quarterly profits for the third quarter of 2003. The company earned $210 million, or 35 cents a share, in the quarter, as compared to $231 million, or 38 cents a share, one year ago. The company's gross margin was 35.5 percent of revenue, up slightly from 35.3 percent in the second quarter. Reuters Research had targeted an average profit of 37 cents per share. Revenues for the company rose about 3 percent to $2.98 billion from the year-earlier period.
More information: www.wm.com.
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