Waste Management (WM) Tops Q2 EPS by 3c

Waste Management (NYSE: WM) reported Q2 EPS of $0.74, $0.03 better than the analyst estimate of $0.71. Revenue for the quarter came in at $3.43 billion versus the consensus estimate of $3.4 billion.

David P. Steiner, President and Chief Executive Officer of Waste Management, commented, “Our second quarter results mirrored the strong first quarter trends, as we again exceeded our revenue, earnings, and margin targets. In the second quarter, our revenue continued to see benefits from core price, volumes, and acquisitions. Core price was 4.9% and traditional solid waste volumes were positive 0.8%. Importantly, our commercial collection volumes turned positive for the first time since 2005. We also continued to make progress in our cost programs, as operating costs as a percent of revenue improved 300 basis points, or 140 basis points on an as-adjusted basis. The combined revenue growth and cost improvement led to strong growth in operating EBITDA, which increased $127 million, to $951 million.”

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

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