Waste management service provider Waste Management (NYSE:WM) will announce its results this Monday after market hours. Here’s what to expect.
Waste Management beat analysts’ expectations by 1.1% last quarter, reporting revenue of $6.43 billion, up 19% year over year. It was a mixed quarter for the company, with a decent beat on analysts’ EBITDA estimates but a slight miss on analysts’ adjusted operating profit estimates.
Is Waste Management a profitable buy or sell? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts expect Waste Management’s revenue to increase 16% year over year to $6.51 billion, an improvement from the 7.9% increase in the same quarter last year. Adjusted earnings are expected to be $2.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the past 30 days, suggesting they expect the company to stay the course before reporting profits. Waste Management has missed Wall Street revenue estimates four times in the past two years.
Comparing Waste Management’s peers in the environmental services and facilities segment, only Waste Connections has reported results so far. It beat analysts’ revenue estimates by 0.5%, generating 5.1% year-over-year sales growth. The stock traded up 2.7% based on the results.
Read our full analysis of Waste Connections’ results here.
Investors have felt positive sentiment in the environmental services and facilities segment, with stock prices up 3.7% on average over the past month. Waste Management is down 1.6% in the same period and headed for profits with an average analyst price target of $251.73 (compared to the current stock price of $215.28).
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