April 24 (Reuters) - Waste management firm WM

beat analysts' estimates for first-quarter profit on Wednesday,

helped by higher prices and steady demand for garbage collection

and disposal.

WM, which collects trash, transfers it to company landfills,

and recycles it into clean, renewable energy, was able to

sustain high prices due to the essential nature of its waste

management services.

Core prices, a performance metric used by the company to

signify price changes, increased 7.2% for the first quarter.

WM and Republic Services are two major companies - apart

from municipal waste departments - that dominate garbage

collection in large parts of the United States.

The Houston, Texas-based company posted adjusted quarterly

profit of $1.75 per share, ahead of analysts' average

expectation of $1.51 per share, according to LSEG data.

WM also benefited from the use of automation, which has

reduced labor costs and increased efficiency.

The company said it expects 2024 free cash flow to be

between $2 billion and $2.15 billion. It also expects annual

revenue to increase 5% to 5.57% from prior year.

Its total revenue in the quarter ended March 31 rose 5.5% to

$5.16 billion.