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 1.66%, beating estimates twice. 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 second-quarter 2017 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Earnings missed. The Zacks Consensus Estimate called for EPS of 82 cents, while the company reported EPS of 81 cents.
Revenues: Revenues beat. WM posted revenues of $3,677 million, compared with Zacks Consensus Estimate of $3,643 million.
Key Stats to Note: With strong quarterly results, WM reiterated its guidance for 2017 and continues to expect adjusted earnings in the range of $3.14 to $3.18 per share. For third quarter, the company expect to repurchase $500 million shares.
Stock Price: Shares prices remained unchanged in pre-market trading following the in-line earnings at the time of writing.
Check back our full write up on this WM earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaries," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>