Stock Monitor: Avalon Holdings Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 27, 2018 / Active-Investors.com has just released a free earnings report on Waste Management, Inc. (NYSE: WM).If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WM. Waste Management reported its fourth quarter and fiscal 2017 operating and financial results on February 15, 2018. The garbage and recycling hauler outperformed top- and bottom-line expectations and provided guidance for full year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Avalon Holdings Corporation (NYSE AMER: AWX), which also belongs to the Industrial Goods sector as the Company Waste Management. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Waste Management most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For its quarter ended December 31, 2017, Waste Management's revenues grew 5.5% to $3.65 billion compared to $3.46 billion for Q4 2016. The revenue growth was driven by strong yield and volume growth in the Company's collection and disposal business. Waste Management's reported numbers beat analysts' estimates of $3.56 billion.
For the full year 2017, Waste Management reported revenues of $14.5 billion, up 7% compared to $13.6 billion for FY16.
During Q4 2017, Waste Management's core price, which consists of price increases net of rollbacks and fees, excluding the Company's fuel surcharge, was 4.8%, compared to 5.1% in Q4 2016. The Company's internal revenue growth from yield for collection and disposal operations was 2.2% for the reported quarter and 2.0% for FY17.
For Q4 2017, Waste Management's traditional solid waste internal revenue growth from volume was 4.2%, or 5.0%, on a workday adjusted basis. Total Company internal revenue growth from volume, which includes its recycling and other ancillary businesses, was 2.6% in the reported quarter, or 3.4% on a workday adjusted basis.
During Q4 2017, Waste Management's operating expenses as a percentage of revenue in the Company's traditional solid waste business improved about 120 basis points. As a percent of revenue, total Company operating expenses were 62.0% in the reported quarter compared to 62.1% in the prior year's corresponding quarter.
For Q4 2017, Waste Management's operating EBITDA was $1.05 billion compared to $930 million in Q4 2016. On an as-adjusted basis, operating EBITDA was $1.02 billion for the reported quarter, reflecting an increase of 9.7% on a y-o-y basis.
Waste Management's net income totaled $903 million, or $2.06 per diluted share, for Q4 2017 compared to net income of $335 million, or $0.75 per diluted share, for Q4 2016. On an as-adjusted basis, the Company's earnings were $0.85 per diluted share for the reported quarter compared to $0.75 per diluted share for the prior year's corresponding quarter, beating Wall Street's estimates of $0.83 per share. Waste Management's Q4 2017 results were adjusted to exclude a net benefit of $1.21 per diluted share related to the impact of the Tax Cuts and Jobs Act.
For FY17, Waste Management's earnings were $1.95 billion, or $4.41 per diluted share, compared to $1.18 billion, or $2.65 per diluted share, for FY16. On an as-adjusted basis, the Company's earnings surged to $3.22 per diluted share for FY17 versus $2.91 per diluted share for FY16.
During Q4 2017, Waste Management's average recycling commodity prices at the Company's recycling facilities were approximately 8.1% lower on a y-o-y basis, while recycling volumes declined 4.8% in the reported quarter. Results in the Company's recycling line of business declined by $0.03 per diluted share on a y-o-y basis.
Waste Management's net cash provided by operating activities was $790 million in Q4 2017 and $3.18 billion for FY17, reflecting growth of 4.8% and 5.8%, respectively, on a y-o-y basis, attributed to strong operating income growth and working capital improvements. The Company's free cash flow was $342 million in the reported quarter compared to $388 million in the year earlier same quarter. Waste Management's free cash flow was $1.77 billion for FY17 compared to $1.71 billion in FY16.
For FY17, Waste Management returned $1.5 billion to shareholders through $750 million in dividends and $750 million in share repurchases.
For full year 2018, Waste Management is forecasting Core price to be 4.0% or greater. The Company is estimating internal revenue growth from yield on the collection and disposal business is expected to be 2.0% or greater. Internal revenue growth from volume is expected to be between 2.0% and 2.2%.
For FY18, Waste Management is estimating adjusted operating EBITDA to be in the range of $4.2 billion to $4.25 billion. The Company is expecting adjusted earnings to be between $3.97 and $4.05 per diluted share, including an anticipated $0.62 earnings per diluted share benefit from tax reform partially.
Waste Management is projecting free cash flow to be between $1.95 billion and $2.05 billion for FY18. The Company's Board of Directors has authorized management to repurchase up to $1.25 billion of its common stock.
Stock Performance Snapshot
March 26, 2018 - At Monday's closing bell, Waste Management's stock climbed 1.48%, ending the trading session at $84.13.
Volume traded for the day: 2.08 million shares.
Stock performance in the previous six-month period – up 7.58%; and past twelve-month period – up 16.33%
After yesterday's close, Waste Management's market cap was at $37.07 billion.
Price to Earnings (P/E) ratio was at 14.55.
The stock has a dividend yield of 2.21%.
The stock is part of the Industrial Goods sector, categorized under the Waste Management industry. This sector was up 2.3% at the end of the session.
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