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Waste Management (WM) Beats Both on Q2 Earnings & Revenues
Houston-based Waste Management, Inc. (WM - Free Report) 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 positive average earnings surprise of 4.75%, beating the estimates on every occasion. 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 #2 (Buy), but that could definitely change following the earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: WM beats on earnings. The Zacks Consensus Estimate called for EPS of 71 cents, and the company reported EPS of 74 cents.
WASTE MGMT-NEW Price and EPS Surprise
WASTE MGMT-NEW Price and EPS Surprise | WASTE MGMT-NEW Quote
Revenue: Revenues beat. WM posted revenues of $3,425 million, compared to Zacks Consensus Estimate of $3,386 million.
Key Stats to Note: WM continues to execute on its pricing, disciplined growth, and cost-control strategies. The company revised its earnings guidance for 2016 to between $2.83 and $2.86, representing a $0.09 to $0.12 increase from the low end of its previous guidance.
Stock Price: Shares prices remained unchanged in pre-market trading following the earnings beat at the time of writing.
Check back our full write up on this WM earnings report later!
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