Waste Management (NYSE: WM) reported Q3 EPS of $1.15, $0.04 better than the analyst estimate of $1.11. Revenue for the quarter came in at $3.82 billion versus the consensus estimate of $3.85 billion.

“The recurring theme for the first two quarters of 2018 was one of historically strong solid waste performance more than overcoming a weak recycling market,” said Jim Fish, President and Chief Executive Officer of Waste Management. “In the third quarter, we generated strong operating EBITDA growth, and we expect that growth to accelerate in the fourth quarter and into 2019.(c) Our collection and disposal business generated strong organic revenue growth of 6.4% as a result of our strengthening core price and volume.(d) Additionally, we demonstrated disciplined cost control, particularly on the SG&A line. We executed very well on our plans to refine our recycling pricing model, and we saw tangible benefits from the investments we are making in our employees.”

Outlook

“I’m enthusiastic about the direction of the company,” Fish said. “We continue to deliver strong financial and operational performance, and we have promoted strong leaders to continue our high standard of operational excellence. With the hard work our employees have demonstrated so far, I am confident that we can achieve our goals for the remainder of this year and set the stage for an even better 2019.”

GUIDANCE:

Waste Management sees FY2018 EPS of $4.13-$4.15, versus the consensus of $4.07.

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