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WM has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the four trailing quarters and missing on two instances. The average surprise is negative 0.32%.
Q3 Expectations
The Zacks Consensus Estimate for the top line is currently pegged at $5.26 billion, up 3.7% from the year-ago actual figure. The company’s recurring revenue stream and strong pricing policy are likely to have driven such revenue growth.
The consensus estimate for earnings per share is pegged at $1.61, up 3.2% year over year. The increase is likely to be have been due to the company’s strong price discipline and optimized cost structure.
Segmental Expectations
Our estimate for third-quarter 2023 revenues from Collection and Disposal is currently pegged at $3.54 billion, up 4.5% from the third-quarter 2022 reported figure. The increase can be attributed to the likely continuation of strong organic growth in the segment.
Our estimate for Landfill’s revenues is currently pegged at $1.22 billion, up 2.3% from the year-ago reported figure. The growth is likely to have been due to the expected increase in bookings.
Our estimate for the Transfer segment’s revenues is pegged at $597.3 million, up 6.3% higher from the year-ago figure. The Recycling segment’s revenues are expected to be $395.4 million, indicating a 5.9% decrease from the year-ago reported figure.
Our estimate for adjusted EBITDA for the third quarter is pegged at $1.54 billion, indicating 6.2% growth from the year-ago figure.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for WM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Here are a few stocks from the broader Business Services sector, which according to our model, have the right combination of elements to beat on earnings this season.
Verisk Analytics(VRSK - Free Report) : The company’s revenues are expected to decline 11.2% from the year-ago figure while the bottom line is expected to match the prior-year figure. VRSK has beaten the Zacks Consensus Estimate in three of the previous four quarters and matched on one instance, with an average surprise of 9.9%. The company has an Earnings ESP of +10.66% and a Zacks Rank of 3. VRSK is expected to release its third-quarter earnings on Nov 1.
S&P Global(SPGI - Free Report) : The company’s revenues are expected to increase 5.7% from the year-ago figure and the bottom line is expected to indicate 4.1% growth from the prior-year figure. SPGI has beaten the Zacks Consensus Estimate in three of the previous four quarters and matched on one instance, with an average surprise of 3.9%. The company has an Earnings ESP of +0.15% and a Zacks Rank of 3. SPGI is expected to release its third-quarter earnings on Nov 2.
Trane Technologies (TT - Free Report) : The company’s revenues and bottom line are expected to indicate growth of 9.3% and 17.2%, respectively, from the year-ago figure. TT has beaten the Zacks Consensus Estimate in all previous four quarters, with an average surprise of 7.3%. The company has an Earnings ESP of +0.89% and a Zacks Rank of 3. TT is expected to release its third-quarter earnings on Nov 1.
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What's in the Offing for Waste Management (WM) in Q3 Earnings?
Waste Management, Inc. (WM - Free Report) is scheduled to release its third-quarter 2023 results on Oct 24, after market close.
WM has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the four trailing quarters and missing on two instances. The average surprise is negative 0.32%.
Q3 Expectations
The Zacks Consensus Estimate for the top line is currently pegged at $5.26 billion, up 3.7% from the year-ago actual figure. The company’s recurring revenue stream and strong pricing policy are likely to have driven such revenue growth.
Waste Management, Inc. Price and EPS Surprise
Waste Management, Inc. price-eps-surprise | Waste Management, Inc. Quote
The consensus estimate for earnings per share is pegged at $1.61, up 3.2% year over year. The increase is likely to be have been due to the company’s strong price discipline and optimized cost structure.
Segmental Expectations
Our estimate for third-quarter 2023 revenues from Collection and Disposal is currently pegged at $3.54 billion, up 4.5% from the third-quarter 2022 reported figure. The increase can be attributed to the likely continuation of strong organic growth in the segment.
Our estimate for Landfill’s revenues is currently pegged at $1.22 billion, up 2.3% from the year-ago reported figure. The growth is likely to have been due to the expected increase in bookings.
Our estimate for the Transfer segment’s revenues is pegged at $597.3 million, up 6.3% higher from the year-ago figure. The Recycling segment’s revenues are expected to be $395.4 million, indicating a 5.9% decrease from the year-ago reported figure.
Our estimate for adjusted EBITDA for the third quarter is pegged at $1.54 billion, indicating 6.2% growth from the year-ago figure.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for WM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
WM has an Earnings ESP of -0.31% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks from the broader Business Services sector, which according to our model, have the right combination of elements to beat on earnings this season.
Verisk Analytics(VRSK - Free Report) : The company’s revenues are expected to decline 11.2% from the year-ago figure while the bottom line is expected to match the prior-year figure. VRSK has beaten the Zacks Consensus Estimate in three of the previous four quarters and matched on one instance, with an average surprise of 9.9%. The company has an Earnings ESP of +10.66% and a Zacks Rank of 3. VRSK is expected to release its third-quarter earnings on Nov 1.
S&P Global(SPGI - Free Report) : The company’s revenues are expected to increase 5.7% from the year-ago figure and the bottom line is expected to indicate 4.1% growth from the prior-year figure. SPGI has beaten the Zacks Consensus Estimate in three of the previous four quarters and matched on one instance, with an average surprise of 3.9%. The company has an Earnings ESP of +0.15% and a Zacks Rank of 3. SPGI is expected to release its third-quarter earnings on Nov 2.
Trane Technologies (TT - Free Report) : The company’s revenues and bottom line are expected to indicate growth of 9.3% and 17.2%, respectively, from the year-ago figure. TT has beaten the Zacks Consensus Estimate in all previous four quarters, with an average surprise of 7.3%. The company has an Earnings ESP of +0.89% and a Zacks Rank of 3. TT is expected to release its third-quarter earnings on Nov 1.
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