Waste Management (WM) Q3 Earnings Top, Revenues Lag Estimates

Waste Management, Inc.WM reported third-quarter 2018 (ended Sep 30, 2018) adjusted earnings per share of $1.15, beating the Zacks Consensus Estimate of $1.10. Earnings increased 27.8% on a year-over-year basis.

How Was the Estimate Revision Trend?

Investors should note that the Zacks Consensus Estimate for third-quarter 2018 earnings declined 0.9% over the last 60 days.

The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 3.9%.

Revenues Higher Than Expected

Waste Management recorded revenues of $3,822 million which missed the Zacks Consensus Estimate of $3,824 million. However, revenues compared favorably with the year-ago figure of $3,716 billion.

Waste Management, Inc. Price

Waste Management, Inc. Price | Waste Management, Inc. Quote

Key Stats to Note : In the quarter free cash flow was $480 million compared to $509 million in the third quarter of 2017. The company paid $199 million in dividends and spent $200 million to repurchase shares in the quarter. Further, the company spent $79 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!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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