Waste Management (WM) Reports Earnings Tomorrow: What To Expect

Waste management services provider Waste Management (NYSE:WM) will be announcing earnings results tomorrow after market close. Here’s what investors should know.

Waste Management met analysts’ revenue expectations last quarter, reporting revenues of $5.40 billion, up 5.5% year on year. It was a slower quarter for the company, with a miss of analysts’ operating margin estimates.

Is Waste Management a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Waste Management’s revenue to grow 6.1% year on year to $5.51 billion, improving from the 2.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.88 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Waste Management has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Waste Management’s peers in the environmental and facilities services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Veralto delivered year-on-year revenue growth of 4.5%, meeting analysts’ expectations, and Rollins reported revenues up 9%, in line with consensus estimates. Veralto traded down 4.6% following the results while Rollins was also down 6.6%.

Read our full analysis of Veralto’s results here and Rollins’s results here.

Investors in the environmental and facilities services segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Waste Management’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $223.39 (compared to the current share price of $206.80).

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