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Waste Management Stocks' Q3 Earnings on Nov 2: CLH, ADSW
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The earnings season is into the second half of the reporting cycle, and it looks well on the positive track. Over 291 S&P 500 companies have already reported earnings till Oct 28. Third-quarter results have improved significantly from the preceding quarters and are likely to end up in the positive territory after five consecutive quarters of earnings decline for the S&P 500 index.
Per the latest Earnings Preview report, combining the actual results from the 291 S&P 500 members with estimates from the yet-to-report 209 index members, overall Q3 earnings are expected to be up 2% on a 1.4% growth in revenues. The relative improvement in estimate revisions for the quarter is largely due to a turnaround in the economy and rising oil prices. Experts widely believe that growth is likely to ramp up in the fourth quarter and beyond.
Four of the 16 Zacks sectors are expected to witness an earnings decline in the quarter, with Oil/Energy, Transportation and Autos being the biggest drag. Over 1000 companies are scheduled to report results this week, including 130 S&P 500 members, bringing the tally for Q3 results of the index’s total membership to 84.2%.
The Waste Management stocks belonging to the Business Services sector are looking reasonably good. For the sector, earnings are expected to grow 15.3%, while sales are touted to rise 8.6% over the last year. The projected improvement is majorly driven by the growing momentum in the economy as a whole and the job market during the quarter.
Let’s see how things are shaping up for the two waste management companies scheduled to report their third-quarter 2016 results tomorrow.
Clean Harbors, Inc. (CLH - Free Report) is scheduled to report its results before the market opens. The company is focused on improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost management initiatives. Clean Harbors tends to have a competitive advantage in treatment, storage and disposal facility (TSDF). Hence, by setting up additional service locations near TSDFs, the company expects to minimize capital expenditures and increase its market share within the Industrial and Field Services segment. This, in turn, will increase capacity utilization and improve overall profitability. However, a major part of the segment's operations are in Canada, and therefore U.S. to Canadian dollar foreign currency translation significantly affects the segment's results.
A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for it to beat estimates. For the quarter to be reported, this Zacks Rank #4 (Sell) stock has an Earnings ESP of 0.00%, thus making an earnings prediction uncertain.Please check our Earnings ESP Filter that enables you find stocks that are expected to come out with earnings surprises.
Advanced Disposal Services, Inc. offers waste collection, transfer, recycling and disposal services for residential, commercial and industrial customers. The company has its operations primarily in U.S. Advanced Disposal Services is based in Ponte Vedra, FL.
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Waste Management Stocks' Q3 Earnings on Nov 2: CLH, ADSW
The earnings season is into the second half of the reporting cycle, and it looks well on the positive track. Over 291 S&P 500 companies have already reported earnings till Oct 28. Third-quarter results have improved significantly from the preceding quarters and are likely to end up in the positive territory after five consecutive quarters of earnings decline for the S&P 500 index.
Per the latest Earnings Preview report, combining the actual results from the 291 S&P 500 members with estimates from the yet-to-report 209 index members, overall Q3 earnings are expected to be up 2% on a 1.4% growth in revenues. The relative improvement in estimate revisions for the quarter is largely due to a turnaround in the economy and rising oil prices. Experts widely believe that growth is likely to ramp up in the fourth quarter and beyond.
Four of the 16 Zacks sectors are expected to witness an earnings decline in the quarter, with Oil/Energy, Transportation and Autos being the biggest drag. Over 1000 companies are scheduled to report results this week, including 130 S&P 500 members, bringing the tally for Q3 results of the index’s total membership to 84.2%.
The Waste Management stocks belonging to the Business Services sector are looking reasonably good. For the sector, earnings are expected to grow 15.3%, while sales are touted to rise 8.6% over the last year. The projected improvement is majorly driven by the growing momentum in the economy as a whole and the job market during the quarter.
Let’s see how things are shaping up for the two waste management companies scheduled to report their third-quarter 2016 results tomorrow.
Clean Harbors, Inc. (CLH - Free Report) is scheduled to report its results before the market opens. The company is focused on improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost management initiatives. Clean Harbors tends to have a competitive advantage in treatment, storage and disposal facility (TSDF). Hence, by setting up additional service locations near TSDFs, the company expects to minimize capital expenditures and increase its market share within the Industrial and Field Services segment. This, in turn, will increase capacity utilization and improve overall profitability. However, a major part of the segment's operations are in Canada, and therefore U.S. to Canadian dollar foreign currency translation significantly affects the segment's results.
A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for it to beat estimates. For the quarter to be reported, this Zacks Rank #4 (Sell) stock has an Earnings ESP of 0.00%, thus making an earnings prediction uncertain.Please check our Earnings ESP Filter that enables you find stocks that are expected to come out with earnings surprises.
CLEAN HARBORS Price and EPS Surprise
CLEAN HARBORS Price and EPS Surprise | CLEAN HARBORS Quote
Advanced Disposal Services, Inc. offers waste collection, transfer, recycling and disposal services for residential, commercial and industrial customers. The company has its operations primarily in U.S. Advanced Disposal Services is based in Ponte Vedra, FL.
For the quarter we cannot conclusively predict an earnings beat as the company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ADV DISPOSL SVC Price and EPS Surprise
ADV DISPOSL SVC Price and EPS Surprise | ADV DISPOSL SVC Quote
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While the above ideas are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trades >>