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Progressive Waste Solutions reports first-quarter loss of $2 million

VAUGHAN, Ont. – VAUGHAN, Ontario (AP) _ Progressive Waste Solutions Ltd. (BIN) on Wednesday reported a first-quarter loss of $2 million, after reporting a profit in the same period a year earlier.

The Vaughan, Ontario-based company said it had a loss of 2 cents per share. Earnings, adjusted for non-recurring costs, came to 25 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The waste disposal company posted revenue of $471.4 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $452 million.

Progressive Waste Solutions shares have risen 32 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.05, a rise of slightly more than 9 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BIN at http://www.zacks.com/ap/BIN

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Keywords: Progressive Waste Solutions, Earnings Report