Waste Management Cuts FY Rev Outlook

Dow Jones
Jul 29
 

Waste Management trimmed its full-year revenue forecast as lower volume expectations offset stronger pricing and higher energy surcharges.

The Houston-based garbage-and-recycling company on Tuesday posted net income of $785 million, or $1.95 a share, compared with $726 million, or $1.80 a share, a year earlier.

Adjusted earnings were $2.02 a share, topping analysts' expectations of $1.98 a share, according to FactSet.

Revenue rose 4%, to $6.68 billion, compared with analyst estimates of $6.71 billion. The company said revenue growth was driven by 5.7% core pricing, higher recycling and renewable-energy volumes, and increased energy surcharges, though collection and disposal volume declined 1.8% from a year earlier.

Waste Management narrowed its full-year revenue outlook to $26.3 billion to $26.5 billion, about 0.6% lower than its prior forecast, citing weaker volume expectations. The new range is roughly in line with analysts' consensus estimate of $26.5 billion.

 
 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10