Oct 28 (Reuters) - Waste Management raised its

annual revenue forecast on Monday following upbeat third-quarter

results, driven by higher market prices for its recyclable

commodities and increased landfill volumes.

Shares of the company rose by 2% after the bell.

The company now sees its revenue growth for 2024 at 6%,

surpassing the high end of its previous projection of 5.75%.

Its total revenue for the quarter ended September 30 rose

about 7.9% to $5.61 billion and was driven by a core price

increase of 6.5%, a key performance metric that reflects changes

in pricing.

WM, which collects and transfers trash to company landfills

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

maintain high prices due to the essential nature of its waste

management services.

The Houston, Texas-based company posted a quarterly adjusted

profit of $1.96 per share, ahead of analysts' average

expectation of $1.89 per share, according to data compiled by

LSEG.

The company has benefited from the use of automation, which

has cut labor costs and boosted efficiency.

"Our investments in technology, our fleet, and our asset

network, combined with our disciplined pricing programs, are

expanding the spread between price growth and our cost to

serve," CEO Jim Fish said.

Waste Management and Republic Services ( RSG ) are two major

companies that lead garbage collection across significant

regions of the United States, alongside municipal waste

departments.