Waste Management Announces Third Quarter Revenue

Wendy Angel

Houston – Waste Management, Houston, announced Thursday its earnings were up 44 percent for the third quarter. Net income was $302 million, up from $210 million from third quarter 2003. Income amounted to 52 cents per share, including a 12 cents per share benefit resulting from tax audit settlements. Analysts had estimated earnings at 41 cents per share.

"Our revenue growth due to higher volumes reflected the continuation of a strong economy and included increased volume from the four hurricanes," said chief executive David Steiner in a statement. The company estimates hurricane cleanup efforts boosted revenues by $59 million.