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Waste Management (WM) Tops on Q1 Earnings, Misses Revenues
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Waste Management, Inc. (WM - Free Report) reported first-quarter 2018 (ended Mar 31, 2018) adjusted earnings per share of 91 cents, beating the Zacks Consensus Estimate of 82 cents. Earnings increased 35.8% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Waste Management depicted an optimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for first-quarter 2018 earnings increase 2.5% over the last 60 days.
The company also has an impressive earnings history having outperformed the Zacks Consensus Estimate in two of the last four quarters with an average positive surprise of 0.87%.
Waste Management recorded revenues of $3.5 billion which missed the Zacks Consensus Estimate of $3.6 billion. However, revenues compared favorably with the year-ago figure of $3.4 billion.
Key Stats to Note: In the quarter free cash flow was $423 million compared to $397 million in the first quarter of 2017. The Company paid $206 million of dividends and $250 million to repurchase shares in the quarter. Further, the company spent $248 million on acquisitions of traditional solid waste businesses.
Check back later for our full write up on this Waste Management earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Waste Management (WM) Tops on Q1 Earnings, Misses Revenues
Waste Management, Inc. (WM - Free Report) reported first-quarter 2018 (ended Mar 31, 2018) adjusted earnings per share of 91 cents, beating the Zacks Consensus Estimate of 82 cents. Earnings increased 35.8% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Waste Management depicted an optimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for first-quarter 2018 earnings increase 2.5% over the last 60 days.
The company also has an impressive earnings history having outperformed the Zacks Consensus Estimate in two of the last four quarters with an average positive surprise of 0.87%.
Waste Management, Inc. Price
Waste Management, Inc. Price | Waste Management, Inc. Quote
Revenues Higher Than Expected
Waste Management recorded revenues of $3.5 billion which missed the Zacks Consensus Estimate of $3.6 billion. However, revenues compared favorably with the year-ago figure of $3.4 billion.
Key Stats to Note: In the quarter free cash flow was $423 million compared to $397 million in the first quarter of 2017. The Company paid $206 million of dividends and $250 million to repurchase shares in the quarter. Further, the company spent $248 million on acquisitions of traditional solid waste businesses.
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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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