Waste Management Stocks Q3 Highlights: Quest Resource (NASDAQ:QRHC)

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the waste management stocks, including Quest Resource (NASDAQ:QRHC) and its peers.

Waste management companies can possess licenses permitting them to handle hazardous materials. Furthermore, many services are performed through contracts and statutorily mandated, non-discretionary, or recurring, leading to more predictable revenue streams. However, regulation can be a headwind, rendering existing services obsolete or forcing companies to invest precious capital to comply with new, more environmentally-friendly rules. Lastly, waste management companies are at the whim of economic cycles. Interest rates, for example, can greatly impact industrial production or commercial projects that create waste and byproducts.

The 8 waste management stocks we track reported a softer Q3. As a group, revenues missed analysts’ consensus estimates by 2.1%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9% since the latest earnings results.

Quest Resource (NASDAQ:QRHC)

Quest Resource reported revenues of $72.77 million, up 3.3% year on year. This print fell short of analysts’ expectations by 5.6%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ EBITDA and EPS estimates.

“We were very active during the third quarter: securing significant new client wins, onboarding a record number of new clients, and expanding engagements with existing ones.” said S. Ray Hatch, President and Chief Executive Officer of Quest.

Unsurprisingly, the stock is down 31% since reporting and currently trades at $5.68.

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Best Q3: Republic Services (NYSE:RSG)

Republic Services reported revenues of $4.08 billion, up 6.5% year on year, falling short of analysts’ expectations by 1.1%. The business performed better than its peers, but it was unfortunately a mixed quarter with a solid beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ sales volume estimates.

The market seems happy with the results as the stock is up 6.9% since reporting. It currently trades at $218.51.

Perma-Fix (NASDAQ:PESI)

Perma-Fix reported revenues of $16.81 million, down 23.2% year on year, falling short of analysts’ expectations by 2.3%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

Perma-Fix delivered the slowest revenue growth in the group. As expected, the stock is down 30.9% since the results and currently trades at $10.15.

Clean Harbors (NYSE:CLH)

Clean Harbors reported revenues of $1.53 billion, up 12% year on year. This result topped analysts’ expectations by 1.6%. However, it was a slower quarter as it logged full-year EBITDA guidance missing analysts’ expectations.

Clean Harbors delivered the biggest analyst estimates beat among its peers. The stock is down 10.3% since reporting and currently trades at $236.51.

Waste Management (NYSE:WM)

Waste Management reported revenues of $5.89 billion, up 13% year on year. This number surpassed analysts’ expectations by 0.9%. More broadly, it was a slower quarter as it produced a significant miss of analysts’ adjusted operating income and EPS estimates.

The stock is up 6.8% since reporting and currently trades at $223.92.

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This content was originally published on Stock Story