Waste Management Inc expects a recent decline in natural gas prices to weigh on its third-quarter, per-share earnings by about 4 cents per diluted share, the top U.S. trash hauler said in an investor presentation posted on its Web site.

A decline in natural gas prices has affected the price at which it sells electricity, the company said as it reiterated its prior guidance on its recycling operations.

“Recent price activity in the recycling commodity markets is consistent with our prior forecasts,” the company said. It noted that volumes have “run generally flat” since the second quarter.

It said it would update its full-year forecast when it reports third-quarter earnings later this fall.

Waste Management shares were up 1 percent at $30.38 on the New York Stock Exchange.

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