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Waste Management Stocks Earnings Roster for Oct 26: WM, WCN
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The earnings season is gradually moving towards the business end with over 800 companies reporting this week. Although it would be unfair to predict any outright pattern at this moment, the 116 S&P 500 companies that have reported results till Oct 21, more or less confirm that overall third-quarter results are likely to improve significantly from the preceding quarters. Based on the hitherto observed pattern, Q3 might well end up in the positive territory after five consecutive quarters of earnings decline for the benchmark index.
Per the latest Earnings Preview report, overall Q3 earnings for the S&P 500 companies are expected to be up 0.1% on a 1.5% 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 Q3 would be the inflection point with positive growth likely to resume in Q4 and ramp up in the following quarters. Thereafter, earnings growth is expected to be in double-digits in 2017 and beyond.
For Q3 as a whole, about 7 of the 16 Zacks sectors are expected to witness an earnings decline, with Oil/Energy, Transportation and Autos being the biggest drag.
Among the Waste Management stocks slated to report their third-quarter 2016 numbers this week, let’s have a sneak peek at two major players to see how things are shaping up for the upcoming results.
Waste Management, Inc. (WM - Free Report) is scheduled to report its earnings before the opening bell tomorrow. Waste Management's successful cost-reduction initiatives have helped it in accomplishing remarkable gross margin expansion and EBITDA growth over the past few quarters. In order to generate adequate return on its capital investments in landfills, the company has implemented a wastewater management charge for customers that are not under contract. The company has also taken steps to divest non-core operations and enhance focus on its high-growth areas that will generate higher cash flows and boost the top line. Additionally, Waste Management expects yield momentum to continue in the company’s solid waste lines of business in the to-be-reported quarter. For the impending quarter, the company has an Earnings ESP of 0.00%, and Zacks Rank #2 (Buy), making an earnings surprise prediction uncertain. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Waste Connections, Inc. (WCN - Free Report) is scheduled to report its earnings after the closing bell tomorrow. Waste Connections’ merger with Progressive Waste Solutions Ltd. has created an industry leader with enhanced scale and a stronger financial profile. The combined company has pro forma revenue of approximately $4.1 billion and operates an integrated network of solid waste operations across North America with complementary footprints. The merged entity is expected to benefit from a diverse revenue base with strategic assets uniquely positioned for continued growth. In addition, the combination is expected to generate approximately $50 million in annualized SG&A cost savings within the first 12 months after closing. Operational and safety-related improvements and market rationalization are expected to contribute additional upside over the long-term. For the impending quarter, this Zacks Rank #3 (Hold) stock has an Earnings ESP of 0.00%. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Stay tuned! Check later on our full write-up on earnings releases of these stocks.
Confidential from Zacks
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>.
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Waste Management Stocks Earnings Roster for Oct 26: WM, WCN
The earnings season is gradually moving towards the business end with over 800 companies reporting this week. Although it would be unfair to predict any outright pattern at this moment, the 116 S&P 500 companies that have reported results till Oct 21, more or less confirm that overall third-quarter results are likely to improve significantly from the preceding quarters. Based on the hitherto observed pattern, Q3 might well end up in the positive territory after five consecutive quarters of earnings decline for the benchmark index.
Per the latest Earnings Preview report, overall Q3 earnings for the S&P 500 companies are expected to be up 0.1% on a 1.5% 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 Q3 would be the inflection point with positive growth likely to resume in Q4 and ramp up in the following quarters. Thereafter, earnings growth is expected to be in double-digits in 2017 and beyond.
For Q3 as a whole, about 7 of the 16 Zacks sectors are expected to witness an earnings decline, with Oil/Energy, Transportation and Autos being the biggest drag.
Among the Waste Management stocks slated to report their third-quarter 2016 numbers this week, let’s have a sneak peek at two major players to see how things are shaping up for the upcoming results.
Waste Management, Inc. (WM - Free Report) is scheduled to report its earnings before the opening bell tomorrow. Waste Management's successful cost-reduction initiatives have helped it in accomplishing remarkable gross margin expansion and EBITDA growth over the past few quarters. In order to generate adequate return on its capital investments in landfills, the company has implemented a wastewater management charge for customers that are not under contract. The company has also taken steps to divest non-core operations and enhance focus on its high-growth areas that will generate higher cash flows and boost the top line. Additionally, Waste Management expects yield momentum to continue in the company’s solid waste lines of business in the to-be-reported quarter. For the impending quarter, the company has an Earnings ESP of 0.00%, and Zacks Rank #2 (Buy), making an earnings surprise prediction uncertain. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
WASTE MGMT-NEW Price and EPS Surprise
WASTE MGMT-NEW Price and EPS Surprise | WASTE MGMT-NEW Quote
(Read more: Waste Management (WM - Free Report) Q3 Earnings: Will it Beat Again?)
Waste Connections, Inc. (WCN - Free Report) is scheduled to report its earnings after the closing bell tomorrow. Waste Connections’ merger with Progressive Waste Solutions Ltd. has created an industry leader with enhanced scale and a stronger financial profile. The combined company has pro forma revenue of approximately $4.1 billion and operates an integrated network of solid waste operations across North America with complementary footprints. The merged entity is expected to benefit from a diverse revenue base with strategic assets uniquely positioned for continued growth. In addition, the combination is expected to generate approximately $50 million in annualized SG&A cost savings within the first 12 months after closing. Operational and safety-related improvements and market rationalization are expected to contribute additional upside over the long-term. For the impending quarter, this Zacks Rank #3 (Hold) stock has an Earnings ESP of 0.00%. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
WASTE CONNECTN Price and EPS Surprise
WASTE CONNECTN Price and EPS Surprise | WASTE CONNECTN Quote
Stay tuned! Check later on our full write-up on earnings releases of these stocks.
Confidential from Zacks
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>.