Waste Management, Inc. (NYSE:WM) today announced financial results for its quarter ended December 31, 2018. Revenues for the fourth quarter of 2018 were $3.84 billion, compared with $3.65 billion for the same 2017 period.
Net income for the quarter was $531 million, or $1.24 per diluted share, compared with net income of $903 million, or $2.06 per diluted share, for the fourth quarter of 2017. On an adjusted basis, earnings per diluted share were $1.13 for the fourth quarter of 2018, compared with $0.85 for the fourth quarter of 2017
For the full-year 2018, the Company reported revenues of $14.91 billion, compared with $14.49 billion for 2017. Earnings per diluted share were $4.45 for the full year 2018 compared with $4.41 for the full year 2017. On an adjusted basis, earnings per diluted share were $4.20 for the full year 2018 versus $3.22 for the full year 2017.
According to CEO Jim Fish, "2018 was a record-setting year for Waste Management, driven by our traditional solid waste performance. We grew operating EBITDA by more than 5%, which led to an increase in net cash provided by operations of more than 12% to $3.57 billion.
"This growth translated into free cash flow of over $2 billion and the most cash returned to our shareholders in over a decade. Our strong 2018 results validate that our focus on outstanding customer experience and cost management drives solid growth in our business."
Shares gave up 20 cents to $98.36
