Waste Management -4.6% after results, guidance miss expectations

|About: Waste Management, Inc. (WM)|By:, SA News Editor

Waste Management (WM -4.6%) shares sink after the company’s Q4 results and FY 2014 guidance missed consensus estimates.

Recycling operations hurt earnings by $0.03/share during Q4 and $0.12/share for the full year, $0.10 more than expected.

Internal revenue growth from yield for collection and disposal operations was 2.4% during Q4 vs. a yield of 0.9% in the year-ago period; expects 2014 internal revenue growth from yield on the collection and disposal business of ~2% and internal revenue growth from volume of -1%.

WM's 2014 outlook projects adjusted EPS of $2.30-$2.35, below the $2.41 estimated by analysts.

Wedbush maintains a Neutral rating on WM shares with a 12-month price target of $40, but says its estimates and rating were under review.