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Waste Management (WM) Q3 Earnings Top, Revenues Lag Estimates
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Waste Management, Inc. (WM - Free Report) reported third-quarter 2018 (ended Sep 30, 2018) adjusted earnings per share of $1.15, beating the Zacks Consensus Estimate of $1.10. Earnings increased 27.8% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for third-quarter 2018 earnings declined 0.9% over the last 60 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 3.9%.
Revenues Higher Than Expected
Waste Management recorded revenues of $3,822 million which missed the Zacks Consensus Estimate of $3,824 million. However, revenues compared favorably with the year-ago figure of $3,716 billion.
Key Stats to Note: In the quarter free cash flow was $480 million compared to $509 million in the third quarter of 2017. The company paid $199 million in dividends and spent $200 million to repurchase shares in the quarter. Further, the company spent $79 million on acquisitions of traditional solid waste businesses.
Check back later for our full write up on this Waste Management earnings report later!
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Waste Management (WM) Q3 Earnings Top, Revenues Lag Estimates
Waste Management, Inc. (WM - Free Report) reported third-quarter 2018 (ended Sep 30, 2018) adjusted earnings per share of $1.15, beating the Zacks Consensus Estimate of $1.10. Earnings increased 27.8% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for third-quarter 2018 earnings declined 0.9% over the last 60 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 3.9%.
Revenues Higher Than Expected
Waste Management recorded revenues of $3,822 million which missed the Zacks Consensus Estimate of $3,824 million. However, revenues compared favorably with the year-ago figure of $3,716 billion.
Waste Management, Inc. Price
Waste Management, Inc. Price | Waste Management, Inc. Quote
Key Stats to Note: In the quarter free cash flow was $480 million compared to $509 million in the third quarter of 2017. The company paid $199 million in dividends and spent $200 million to repurchase shares in the quarter. Further, the company spent $79 million on acquisitions of traditional solid waste businesses.
Zacks Rank: Currently, Waste Management has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Waste Management earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>