Waste Management (WM) Misses Q3 Earnings, Revenues Beat
Houston-based Waste Management, Inc. WM is the largest provider of comprehensive waste management services in North America. With services to nearly 21 million residential, commercial, industrial and municipal customers, the company is well executing its initiative to refocus on the core business activities and instil price and cost discipline to achieve better margins and returns in the long run.
In the last four trailing quarters, WM has reported a modest positive average earnings surprise of 0.3%, beating estimates once, for two misses and one in-line earnings. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report
Currently, WM has a Zacks Rank #4 (Sell), but that could definitely change following third-quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Earnings missed. The Zacks Consensus Estimate called for EPS of 88 cents, while the company reported EPS of 81 cents.
Waste Management, Inc. Price and EPS Surprise
Waste Management, Inc. Price and EPS Surprise | Waste Management, Inc. Quote
Revenues: Revenues beat. WM posted revenues of $3,677 million, compared with Zacks Consensus Estimate of $3,712 million.
Key Stats to Note: With strong quarterly results, WM reiterated its guidance for 2017 and continues to expect adjusted earnings in the range of $3.14 to $3.18 per share. For third quarter, the company expects to repurchase $500 million shares.
Stock Price: WM shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back for our full write up on this WM earnings report later!
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