October 26, 2010 / 10:12 PM / 7 years ago

UPDATE 1-IESI-BFC Q3 profit beats Wall Street

2 Min Read

* Q3 EPS $0.20 vs $0.20 year-ago

* Adj EPS $0.26 vs est $0.25

* Rev up 63 pct to $436.3 mln

Oct 26 (Reuters) - North America's third-largest solid waste management company IESI-BFC Ltd BIN.TO posted a 25 percent rise in its quarterly profit, helped by rising demand for its services in Canadian markets.

For the July-September quarter, the company earned $23.9 million, or 20 cents per share, compared with $19.1 million, or 20 cents a share, a year ago.

Adjusted net income was $31.7 million, or 26 cents per share, the company said.

Revenue rose about 63 percent to $436.3 million. Analysts on average were expecting earnings of 25 cents a share, excluding items, on revenue of $436.27 million, according to Thomson Reuters I/B/E/S.

Core price grew by 3 percent, while volumes grew by 4 percent in Canada, the company said.

The company's shares, which have gained about 71 percent in value in the last year, closed at C$24.67 Tuesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Don Sebastian)

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