Waste Management, Inc. (WM - Free Report) reported first-quarter 2019 earnings per share of 94 cents (on an adjusted basis) which beat the Zacks Consensus Estimate by 3 cents. Earnings were flat year over year.
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 first-quarter 2019 earnings move down 2.2% 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 5.3%.
Revenues Lower Than Expected
Waste Management recorded revenues of $3,696 million which outperformed the Zacks Consensus Estimate of $3,670 million. Moreover, revenues compared favorably with the year-ago figure of $3,511 million.
Key Stats to Note: In first-quarter 2019, internal revenue growth from yield for collection and disposal operations was 2.7% compared with 2.3% in the year-ago quarter. Core price for the reported quarter came in at 5.8% compared with 4.9% in the year-ago quarter.
The company paid dividends worth $223 million and repurchased shares worth $68 million in the first-quarter 2019. It spent $394 million on acquisitions during 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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