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Pricing & Cost Control Benefit WM's Profitability Amid Low Liquidity

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Key Takeaways

  • WM boosts margins by aligning pricing with service quality and cutting unnecessary costs.
  • Dividend payments have grown steadily, signaling long-term shareholder value commitment.
  • Stericycle deal offers synergies but raises debt load and liquidity challenges for WM.

WM (WM - Free Report) reported impressive second-quarter 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. WM’s quarterly adjusted earnings of $1.92 per share surpassed the consensus mark by 1.6% and gained 5.5% year over year. Total revenues of $6.4 billion beat the consensus mark by 1.4% and increased 19% from the year-ago quarter.

How Is WM Faring?

Effective pricing and cost control are vital to WM’s profitability strategy. The company ensures that price adjustments are aligned with the quality and reliability of services and the demand at any given time by optimizing routes, improving service delivery and operational processes. To protect margins in fluctuating economic conditions, WM eliminates unnecessary costs. A combination of modern technology and process enhancements lowers costs and propels service reliability and customer satisfaction.

WM’s strategy to reward its shareholders is impressive, as it has maintained consistent dividend payments since 1998. Despite fluctuations in the company’s cash position, WM has shown its dedication to creating long-term value for investors. In 2021, 2022, 2023 and 2024, the company paid out $970 million, $1.1 billion, $1.14 billion and $1.21 billion, respectively, waving a green flag for income-seeking investors.

The company expects that the recent Stericycle buyout will be accretive to its earnings and cash flows within a year of closing, with more than $125 million in annual run-rate synergies. Stericycle holds a leading position in the growing medical waste industry. Therefore, it brings complementary business platforms that will improve WM’s comprehensive waste and environmental solutions.

Meanwhile, this acquisition has raised the debt load. WM has issued billions in senior notes, raising concerns about financial flexibility and impacts on shareholder returns if cash flow does not rise as anticipated. If the company is unable to boost its cash flow, operational leverage can be affected, hampering its ability to meet financial obligations.

On the liquidity front, WM appears to be weak, as its current ratio of 0.86 recorded in the second quarter of 2025 witnessed a significant decline compared with the year-ago quarter’s 1.07. Also, the fact that the current ratio stands lower than 1 raises questions about WM’s ability to cover short-term obligations, signaling a concern.

Earnings Snapshot

FactSet (FDS - Free Report) reported mixed results for the fourth quarter of fiscal 2025.

FDS’s earnings per share of $4.05 missed the consensus mark by 2.4% but increased 8.3% from the year-ago quarter. Revenues of $596.9 million beat the Zacks Consensus Estimate by a slight margin and 6.2% from the year-ago quarter.

ABM (ABM - Free Report) posted mixed third-quarter fiscal 2025 results.

ABM’s EPS (excluding 16 cents from non-recurring items) was 82 cents, which missed the Zacks Consensus Estimate by 13.7% and declined 12.8% year over year. Total revenues of $2.2 billion surpassed the consensus mark by 2.8% and increased 6.2% from the year-ago quarter.


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