Waste Management (WM) Tops Q1 EPS by 2c

Waste Management (NYSE: WM) reported Q1 EPS of $0.58, $0.02 better than the analyst estimate of $0.56. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.08 billion.

David P. Steiner, President and Chief Executive Officer of Waste Management, commented, “We achieved strong first quarter results and exceeded our internal targets in virtually every metric, including revenue, earnings, margins and cash flow. On an as-adjusted basis, we saw earnings growth of over 18%.(b) Revenue grew 4.5%, and our total company volumes turned positive for the first time since 2012. Our pricing programs resulted in core price of 5.3%, a 90 basis point improvement from the first quarter of 2015, and we achieved increased price in each line of business.(c) We also continued to see progress in our cost programs. This led to us exceeding our targets for operating EBITDA and free cash flow.”

GUIDANCE:

Waste Management expects to meet or exceed FY2016 EPS of $2.74-$2.79, versus the consensus of $2.77.

For earnings history and earnings-related data on Waste Management (WM) click here.

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