Waste Management beats quarterly estimates on higher pricing
July 28 (Reuters) - Waste Management WM.N beat second-quarter profit and revenue estimates on Monday, aided by higher pricing and steady demand for garbage collection and disposal.
WM, which collects and transfers trash to company landfills and recycles it into energy, has benefited from the use of automation, cutting labor costs and boosting efficiency.
Alongside municipal waste departments, WM and Republic Services RSG.N are two major companies that lead garbage collection across significant regions of the United States.
The company posted a quarterly profit of $1.92 per share, above analysts' average expectations of $1.90 per share, according to data compiled by LSEG.
Its total revenue for the quarter ended June 30 came in at $6.43 billion. Analysts expected revenue of $6.36 billion.
Shares of the Houston, Texas-based company rose marginally after the bell.
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