Categories Earnings, Other Industries

Waste Management’s Q2 results top market expectations

Waste Management Inc. (NYSE: WM) topped analysts’ expectations for revenue and earnings in the second quarter of 2019. Shares were up 1.1% in morning hours on Thursday.

Total revenues rose nearly 6% year-over-year to $3.95 billion, surpassing estimates of $3.94 billion. Revenue growth was driven by strong yield and volume growth in the collection and disposal business.

Waste Management tops market expectations for Q2 2019 earnings results

Net income was $381 million, or $0.89 per share, compared to $499 million, or $1.15 per share, in the prior-year period. Adjusted net income was $470 million, or $1.11 per share. Analysts had forecast EPS of $1.08.

Total company internal revenue growth from volume, including the recycling business, was 4%. Collection and disposal business internal revenue growth from volume was 4.4%. Internal revenue growth from yield for the collection and disposal business was 2.7% versus 2.3% in the year-ago quarter. Core price was 5.4% compared to 5.3% last year.

During the quarter, the company saw a 4% revenue growth in its total collection business, helped by increases across all its divisions. The landfill business saw a 11% growth in revenue while the transfer business saw an 8% increase. The recycling business posted a 13% drop in revenue.

Despite an updated expectation for a full-year recycling headwind of $0.01-0.02 per share, the company is reaffirming its full-year 2019 guidance for adjusted EPS of $4.28-4.38. Adjusted operating EBITDA is expected to be $4.40 billion to $4.45 billion, and free cash flow is expected to be $2.025 billion to $2.075 billion.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

General Motors (GM) fast-tracks EV transition. Is the stock a buy?

General Motors Co. (NYSE: GM) has been ramping up its electric vehicle business, rolling out new models and expanding the production of battery packs. The auto giant’s aggressive EV strategy

Lennar to report Q2 earnings. Will results benefit from demand recovery?

After giving mixed signals in the first half, demand for new homes in the US is expected to recover in the later part of the year. While there is pent-up

Campbell Soup (CPB): A few factors that shaped the Q3 performance

Shares of Campbell Soup Company (NYSE: CPB) stayed red on Monday. The stock has dropped over 8% in the past one month. The food company delivered sales and earnings growth

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top