Houston-based Waste Management, Inc. WM is the largest provider of comprehensive waste management services in North America. With services to nearly 21 million residential, commercial, industrial and municipal customers, the company is well executing its initiative to refocus on the core business activities and instil price and cost discipline to achieve better margins and returns in the long run.
In the last four trailing quarters, WM has reported a positive average earnings surprise of 4.77%, beating estimates on every occasion. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report
Currently, WM has a Zacks Rank #3 (Hold), but that could definitely change following the fourth-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: WM misses on earnings. The Zacks Consensus Estimate called for EPS of 77 cents, and the company reported EPS of 75 cents.
Revenues: Revenues beat. WM posted revenues of $3,460 million, compared with Zacks Consensus Estimate of $3,412 million.
Key Stats to Note: WM continues to execute on its pricing, disciplined growth, and cost-control strategies. The company offered guidance for 2017 and expects adjusted earnings in the range of $3.14 to $3.18 per share.
Stock Price: Shares prices remained unchanged in pre-market trading following the earnings miss at the time of writing.
Check back our full write up on this WM earnings report later!
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