Waste Management, Inc. (WM - Free Report) reported second-quarter 2018 earnings per share of $1.01 (on an adjusted basis) which met the Zacks Consensus Estimate. Earnings increased 24.7% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Waste Management depicted a pessimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter 2018 earnings move down 0.9% over the last 60 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 3.6%.
Revenues Lower Than Expected
Waste Management recorded revenues of $3,739 million which underperformed the Zacks Consensus Estimate of $3,774 million. However, revenues compared favorably with the year-ago figure of $3,677 million.
Key Stats to Note: In the second quarter of 2018, free cash flow was $621 million compared with $520 million in the prior-year quarter. The company paid $200 million of dividends and $300 million to repurchase shares in the reported quarter. Further, the company spent $21 million on acquisitions of traditional solid waste businesses in the reported quarter.
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!
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Waste Management, Inc. (WM - Free Report) reported second-quarter 2018 earnings per share of $1.01 (on an adjusted basis) which met the Zacks Consensus Estimate. Earnings increased 24.7% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Waste Management depicted a pessimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter 2018 earnings move down 0.9% over the last 60 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 3.6%.
Revenues Lower Than Expected
Waste Management recorded revenues of $3,739 million which underperformed the Zacks Consensus Estimate of $3,774 million. However, revenues compared favorably with the year-ago figure of $3,677 million.
Key Stats to Note: In the second quarter of 2018, free cash flow was $621 million compared with $520 million in the prior-year quarter. The company paid $200 million of dividends and $300 million to repurchase shares in the reported quarter. Further, the company spent $21 million on acquisitions of traditional solid waste businesses in the reported quarter.
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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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