- Waste Management Inc WM reported revenue growth of 8.8% year over year to $5.08 billion in the third quarter of FY22, beat the consensus of $5.05 billion.
- Adjusted EPS of $1.56 beat the consensus of $1.51.
- Adjusted Operating EBITDA margin increased 50 basis points to 28.6%.
- Waste Management generated cash from operations of $1.18 billion. Free cash flow was $432 million.
- Core price for the third quarter of 2022 was 8.2% compared to 4.6% in the third quarter of 2021.
- The Company’s total volume increased 1.0%, or 1.3% on a working day adjusted basis, and collection and disposal volume increased 1.4%, or 1.7% on a working day adjusted basis, in the third quarter of 2022.
- “As we have seen throughout the year, our team delivered strong results in the third quarter, driven by the strength and resilience of our collection and disposal business,” said CEO Jim Fish.
- “Our operational performance sets us on the path to achieve greater things Full year outlook that we released last quarter as the solid waste business is delivering strong results that will help overcome the headwinds we now anticipate from lower market prices for recycled feedstock,” concluded Fish.
- Price promotion: WM shares traded 2.26% lower at $161.32 on the last check Wednesday.
- Photo via company
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