Waste management services provider Waste Management (NYSE: WM) will be reporting earnings this Tuesday after market hours. Here’s what you need to know.
Waste Management missed analysts’ revenue expectations last quarter, reporting revenues of $6.23 billion, up 3.5% year on year. It was a slower quarter for the company, with a slight miss of analysts’ EBITDA estimates.
Is Waste Management a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Waste Management’s revenue to grow 4.3% year on year, slowing from the 19% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Waste Management has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Waste Management’s peers in the environmental and facilities services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Waste Connections delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 0.9%, and Rollins reported revenues up 7.9%, falling short of estimates by 1.3%. Waste Connections’s stock price was unchanged after the resultswhile Rollins was down 9.1%.
Read our full analysis of Waste Connections’s results here and Rollins’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the environmental and facilities services stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.5% on average over the last month. Waste Management is up 6.9% during the same time and is heading into earnings with an average analyst price target of $257.92 (compared to the current share price of $238.99).
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