Waste Management Earnings & Revenues Surpasses Estimates in Q3

Waste Management Inc. WM reported impressive third-quarter 2024 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.See Zacks Earnings Calendar to stay ahead of market-making news.WM’s quarterly adjusted earnings of $2 per share beat the consensus mark by 5.4% and gained 20.3% on a year-over-year basis. Total revenues of $5.6 billion surpassed the consensus mark by 2% and grew 7.9% from the year-ago quarter.Thestock has gained 17.6% in the year-to-date period, outperforming 13.7% growth of its industry.YTD Price Performance Image Source: Zacks Investment Research WM’s Quarterly Numbers in DetailThe Collection segment recorded revenues of $4.3 billion, growing 4.7% from the year-ago quarter and outpacing our estimate of $4.1 billion. The Landfill segment’s top line increased 6.8% on a year-over-year basis to $1.3 billion and met our estimate. Total revenues in the Transfer segment increased 7.9% to $641 million and beat our expectation of $612.3 million. The Recycling Processing and Sales segment’s revenues increased 30.3% to $503 million and surpassed our projection of $443 million. The figures are before the alignment of intercompany adjustment.The adjusted operating EBITDA was $1.7 billion, which beat our estimated $1.6 billion and rose 11% from the year-ago quarter. The adjusted operating EBITDA margin increased 90 basis points to 30.5% from the year-ago quarter and surpassed our projection of 30.1%.Balance Sheet & Cash Flow of WMWaste Management exited the third quarter of 2024 with cash and cash equivalents of $614 million compared with $172 million at the end of the preceding quarter. The long-term debt (less current portion) was $16 billion compared with the preceding quarter’s $16.5 billion.WM generated $1.4 billion in cash from operating activities in the reported quarter, while capital expenditure was $781 million. The free cash flow was $618 million. In the third quarter of 2024, $301 million in cash dividends was distributed to shareholders.Waste Management’s 2024 OutlookThe company anticipates 2024 revenues to grow 6%, which is greater than the higher end of the previous quarter’s guidance of 5.75%.WM carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Earnings Snapshot of WM’s PeersBooz Allen Hamilton Holding Corp. BAH reported impressive second-quarter fiscal 2025 results.BAH’s quarterly adjusted earnings per share of $1.81 surpassed the Zacks Consensus Estimate by 22.3% and increased 40.3% from the year-ago quarter. The company reported revenues of $3.1 billion, which beat the consensus estimate by 6.5% and increased 18% on a year-over-year basis. Revenues, excluding billable expenses, were $2.2 billion, up 18.3% on a year-over-year basis.Waste Connections, Inc. WCN posted solid third-quarter 2024 results.WCN’s adjusted earnings (excluding 16 cents from non-recurring items) of $1.4 per share surpassed the Zacks Consensus Estimate by 3.9% and increased 15.4% on a year-over-year basis. Revenues of $2.3 billion beat the consensus estimate by 2.2% and grew 13.3% from the year-ago quarter.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Waste Management, Inc. (WM): Free Stock Analysis Report Waste Connections, Inc. (WCN): Free Stock Analysis Report Booz Allen Hamilton Holding Corporation (BAH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks