Waste management services provider Waste Management (NYSE: WM) will be announcing earnings results this Monday after market hours. Here’s what to expect.
Waste Management beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $6.43 billion, up 19% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a slight miss of analysts’ adjusted operating income estimates.
Is Waste Management a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Waste Management’s revenue to grow 16% year on year to $6.51 billion, improving from the 7.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Waste Management has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Waste Management’s peers in the environmental and facilities services segment, only Waste Connections has reported results so far. It beat analysts’ revenue estimates by 0.5%, delivering year-on-year sales growth of 5.1%. The stock traded up 2.7% on the results.
Read our full analysis of Waste Connections’s earnings results here.There has been positive sentiment among investors in the environmental and facilities services segment, with share prices up 3.7% on average over the last month. Waste Management is down 1.6% during the same time and is heading into earnings with an average analyst price target of $251.73 (compared to the current share price of $215.28).
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