By Micah Maidenberg

Waste Management Inc. reported a smaller profit for the third quarter as the company saw volumes weaken amid the Covid-19 pandemic and some costs move higher.

Waste Management on Monday said quarterly profit fell to $390 million, or 92 cents a share, from $495 million, or $1.16 a share, the year earlier. The company's adjusted profit of $1.09 a share beat forecasts from analysts by 7 cents.

Revenue slipped to $3.86 billion from $3.97 billion, but picked up compared with the second quarter and beat the consensus estimate of $3.73 billion for the latest period.

The operator of landfills for trash, recycling facilities and related services said volumes fell 5% year over year in the quarter, putting pressure on its revenues. That is an improvement compared with the second quarter, however.

Waste Management has seen demand, as measured by volumes, fall during the pandemic, as the shutdown earlier this year of the economy and stay-at-home orders resulted in declines in its collection and disposal business.

Write to Micah Maidenberg at michah.maidenberg@wsj.com

(END) Dow Jones Newswires

11-02-20 0810ET