Waste Management (WM) Tops Q2 EPS by 9c

Waste Management (NYSE: WM) reported Q2 EPS of $1.27, $0.09 better than the analyst estimate of $1.18. Revenue for the quarter came in at $4.48 billion versus the consensus estimate of $4.23 billion.

REVISED 2021 OUTLOOK:

• Total Company revenue growth in 2021 is expected to be 15.5% to 16.0%. Combined internal revenue growth from yield and volume in the collection and disposal business is expected to be 5.5% or greater, driven by the Company’s disciplined pricing programs and strong outlook for continued volume recovery.
• Adjusted operating EBITDA is expected to be between $5.0 billion and $5.1 billion in 2021.
• Free cash flow is projected to be between $2.5 billion and $2.6 billion in 2021.
• The Company is on target to capture between $80 million and $85 million in cost synergies in 2021 from the acquisition of Advanced Disposal, which is on track to achieve $150 million in total annual run-rate synergies from cost and capital savings.
• The Company expects to repurchase an additional $850 million of its common stock in 2021, exhausting the full $1.35 billion of share repurchases previously authorized.

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

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