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December 2007

Waste Management blames results on labor disruption

Waste Management, Inc. announced third quarter revenues were $3.40 billion as compared with $3.44 billion in the year ago period. Net income for the quarter was $278 million, or $0.54 per diluted share, compared with $300 million, or $0.55 per diluted share, in the prior year period.

The Company noted a $16 million after-tax decrease, or approximately $0.03 per diluted share, in the current quarter’s net income related primarily to the cost of the labor disruption in the Oakland, California area.

Income from operations as a percent of revenue was 16.6% in the third quarter of 2007.