Waste Management (WM) EPS Misses on Higher Costs - BofA Securities

BofA Securities analyst Michael Feniger reiterated an Underperform rating and $154.00 price target on Waste Management (NYSE: WM) after sales of $4.67bn (+21% YoY) came in 3% better than consensus of 4.55bn but adj EPS of $1.26 was 7% below Consensus of $1.36due to rising cost inflation & labor constraints.

The analyst stated "delivered a solid set of results although fell a bit short: sales of $4.67bn (+21% YoY) came in 2-3% better than expected (BofA/consensus $4.5-4.55bn) but EBITDA of $1.309bn (+15% YoY) came in 1% below expectations (BofA/cons $1.33bn) and adj EPS of $1.26 was 6-7% below (BofA/consensus $1.31/$1.36). The main takeaway: better than expected growth offset by rising cost inflation & labor constraints."

For an analyst ratings summary and ratings history on Waste Management click here. For more ratings news on Waste Management click here.

Shares of Waste Management closed at $159.28 yesterday.

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