Stock Story -
Waste management services provider Waste Management (NYSE:WM) will be reporting results tomorrow after the bell. Here's what to expect.
Waste Management missed analysts' revenue expectations by 1.2% last quarter, reporting revenues of $5.16 billion, up 5.5% year on year. It was an ok quarter for the company, with a solid beat of analysts' earnings estimates.
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This quarter, analysts are expecting Waste Management's revenue to grow 6% year on year to $5.43 billion, improving from the 1.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.82 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 four times over the last two years.
With Waste Management being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for environmental and facilities services stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.5% on average over the last month. Waste Management is up 5.2% during the same time and is heading into earnings with an average analyst price target of $224.7565 (compared to the current share price of $223.45).