Waste Management higher on profit, positive outlook

• Adjusted net income of $308M, or $0.67 per diluted share vs. $263M, or $0.56 per diluted share, in Q4 of 2013.
• During the quarter, the company returned $172M to shareholders in dividends.
• Free cash flow of $2.1B vs. $175M in the same quarter a year ago.
• Outlook for 2015: Adjusted earnings per diluted share of $2.48-$2.55 (+8%-11% Y/Y); free cash flow of $1.4B-$1.5B; capex of $1.2B-$1.3B.
• WM +2.4% premarket
• Q4 results