Waste Management (NYSE:WM) Stock, Quote.Headers.trade-ideas

Waste Management

WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 263 active landfills and about 332 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.

Temu app

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

Shein and Temu have been flagged by the Commission due to their use of de minimis, a rule which permits packages valued at $800 or less to evade tariffs if shipped directly to consumers.

US Demands Probe Into Shein And Temu Over &#39;Deadly&#39; Baby Products

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Waste Management Inc. (NYSE: WM) reported second-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate, while revenues missed the same.

Waste Management Q2 Earnings Meet Estimates, Rise Y/Y

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Waste Management reported worse-than-expected Q2 FY24 results, with sales of $5.402B and adjusted EPS of $1.82. Free cash flow increased 41.1%.

Why Waste Management Shares Are Diving Today

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Waste Management's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) short percent of float has fallen 13.48% since its last report. The company recently reported that it has 3.10 million shares sold short, which is 0.77% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.77 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Waste Management Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726588818_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Waste Management has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Waste Management's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Waste Management's peer group average for short interest as a percentage of float is 3.38%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Waste Management's Recent Short Interest

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UBER</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$66.00</td>
<td>$68.0K</td>
<td>827</td>
<td>2.0K</td>
</tr>
<tr>
<td>EOSE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.00</td>
<td>$42.2K</td>
<td>2.4K</td>
<td>919</td>
</tr>
<tr>
<td>RUN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$18.00</td>
<td>$43.6K</td>
<td>3.1K</td>
<td>402</td>
</tr>
<tr>
<td>UPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$120.00</td>
<td>$62.0K</td>
<td>3.8K</td>
<td>255</td>
</tr>
<tr>
<td>MMM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$140.00</td>
<td>$109.0K</td>
<td>188</td>
<td>242</td>
</tr>
<tr>
<td>RTX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>02/21/25</td>
<td>$130.00</td>
<td>$26.9K</td>
<td>2.7K</td>
<td>65</td>
</tr>
<tr>
<td>DOV</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$180.00</td>
<td>$40.9K</td>
<td>188</td>
<td>51</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$300.00</td>
<td>$49.5K</td>
<td>467</td>
<td>47</td>
</tr>
<tr>
<td>WM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$215.00</td>
<td>$33.8K</td>
<td>40</td>
<td>40</td>
</tr>
<tr>
<td>CARR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$65.00</td>
<td>$45.9K</td>
<td>80</td>
<td>30</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For UBER (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), we notice a put option sweep that happens to be bullish, expiring in 11 day(s) on September 20, 2024. This event was a transfer of 2000 contract(s) at a $66.00 strike. This particular put needed to be split into 53 different trades to become filled. The total cost received by the writing party (or parties) was $68.0K, with a price of $34.0 per contract. There were 827 open contracts at this strike prior to today, and today 2002 contract(s) were bought and sold. 
• Regarding EOSE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>), we observe a call option sweep with bullish sentiment. It expires in 67 day(s) on November 15, 2024. Parties traded 800 contract(s) at a $2.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $42.2K, with a price of $52.0 per contract. There were 2489 open contracts at this strike prior to today, and today 919 contract(s) were bought and sold. 
• Regarding RUN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), we observe a put option sweep with bullish sentiment. It expires in 11 day(s) on September 20, 2024. Parties traded 341 contract(s) at a $18.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $43.6K, with a price of $128.0 per contract. There were 3142 open contracts at this strike prior to today, and today 402 contract(s) were bought and sold. 
• Regarding UPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), we observe a put option sweep with bullish sentiment. It expires in 130 day(s) on January 17, 2025. Parties traded 141 contract(s) at a $120.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $62.0K, with a price of $440.0 per contract. There were 3886 open contracts at this strike prior to today, and today 255 contract(s) were bought and sold. 
• For MMM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), we notice a put option sweep that happens to be bearish, expiring in 39 day(s) on October 18, 2024. This event was a transfer of 100 contract(s) at a $140.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $109.0K, with a price of $1090.0 per contract. There were 188 open contracts at this strike prior to today, and today 242 contract(s) were bought and sold. 
• Regarding RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), we observe a call option sweep with neutral sentiment. It expires in 165 day(s) on February 21, 2025. Parties traded 65 contract(s) at a $130.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $26.9K, with a price of $415.0 per contract. There were 2745 open contracts at this strike prior to today, and today 65 contract(s) were bought and sold. 
• Regarding DOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>), we observe a call option trade with bearish sentiment. It expires in 67 day(s) on November 15, 2024. Parties traded 50 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $40.9K, with a price of $820.0 per contract. There were 188 open contracts at this strike prior to today, and today 51 contract(s) were bought and sold. 
• Regarding CAT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), we observe a put option sweep with bearish sentiment. It expires in 284 day(s) on June 20, 2025. Parties traded 30 contract(s) at a $300.00 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $49.5K, with a price of $1650.0 per contract. There were 467 open contracts at this strike prior to today, and today 47 contract(s) were bought and sold. 
• Regarding WM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>), we observe a put option trade with bearish sentiment. It expires in 32 day(s) on October 11, 2024. Parties traded 40 contract(s) at a $215.00 strike. The total cost received by the writing party (or parties) was $33.8K, with a price of $845.0 per contract. There were 40 open contracts at this strike prior to today, and today 40 contract(s) were bought and sold. 
• Regarding CARR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>), we observe a call option trade with bullish sentiment. It expires in 494 day(s) on January 16, 2026. Parties traded 30 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $45.9K, with a price of $1530.0 per contract. There were 80 open contracts at this strike prior to today, and today 30 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

CARR

EOSE

UBER

10 Industrials Stocks With Whale Alerts In Today's Session

Legal

Stericycle Says Merger With Waste Management Got UK Foreign Direct Investment Approval, Expects Merger To Close As Early As Q4 Of 2024

In recent developments, the U.S. Consumer Products Safety Commission (CPSC) has called for an investigation into e-commerce retailers Shein and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) owned Temu. The demand comes in light of allegations regarding the sale of &#8220;deadly baby and toddler products&#8221; on these platforms, as per a CPSC statement.
What Happened: CPSC Commissioners Peter Feldman and Douglas Dziak are advocating for a probe into the compliance of Shein from Singapore, Temu from China, and other similar foreign-owned e-commerce platforms with CPSC regulations, Reuters reported on Wednesday. The investigation would also scrutinize the management of their third-party sellers and the presentation of imported goods.
Shein and Temu, both of which import budget-friendly goods from China to the U.S., have been flagged by the Commission due to their use of de minimis, a rule which permits packages valued at $800 or less to evade tariffs if shipped directly to consumers.
See Also: <a href="https://www.benzinga.com/news/24/09/40673408/twitter-co-founder-jack-dorsey-endorses-swedish-vpn-service-after-elon-musks-x-gets-banned-in-brazil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Twitter Co-Founder Jack Dorsey Endorses Swedish VPN Service After Elon Musk&#8217;s X Gets Banned In Brazil</a>
The success of Shein and Temu in the U.S. market can be attributed to their low prices and the use of de minimis. However, the quality of their products has been a subject of criticism. In 2023, a bipartisan group of U.S. lawmakers proposed a bill to repeal the de minimis rule, which is extensively used by e-commerce platforms, including third-party sellers on Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
Why It Matters: The e-commerce landscape has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39708215/amazon-vs-temu-shein-tiktok-shop-whos-winning-the-us-e-commerce-battle">witnessing a fierce competition</a>, with Amazon.com maintaining its dominance, while emerging players like Temu, Shein, and TikTok Shop are gaining ground. 
However, these Chinese retailers have been facing regulatory challenges. Earlier in July, the European Union (EU) considered imposing<a href="https://www.benzinga.com/news/24/07/39615301/after-regulatory-hurdles-in-us-alibaba-rivals-shein-and-temu-face-customs-in-eu"> customs on inexpensive goods</a> bought online through Chinese retailers like Shein and Temu. Additionally, Shein <a href="https://www.benzinga.com/news/24/08/40487567/shein-takes-legal-action-against-temu-design-theft-and-fraud-allegations-fly">filed a lawsuit</a> against Temu in August for alleged design theft, counterfeiting, intellectual property infringement, and fraud.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40678873/cathie-wood-congratulates-elon-musk-on-xai-milestone-after-ai-firm-brings-100k-nvidia-gpu-colossus-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood Congratulates Elon Musk On xAI Milestone After AI Firm Brings 100K Nvidia GPU Colossus Cluster Online In Just 122 Days: &#8216;Many Big Announcements Ahead&#8217;</a></li>
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Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

US Demands Probe Into Shein And Temu Over 'Deadly' Baby Products

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HOVR

ICFI

IESC

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SPPL

SPWR

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) has outperformed the market over the past 10 years by 5.05% on an annualized basis producing an average annual return of 15.97%. Currently, Waste Management has a market capitalization of $79.28 billion. 
Buying $1000 In WM: If an investor had bought $1000 of WM stock 10 years ago, it would be worth $4,352.42 today based on a price of $197.66 for WM at the time of writing.
<h3>Waste Management's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722016860_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 10 Years Ago, You Would Have $4,400 Today

Oppenheimer analyst Noah Kaye maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Outperform and lowers the price target from $229 to $224.

Price Target

Oppenheimer Maintains Outperform on Waste Management, Lowers Price Target to $224

BMO Capital analyst Devin Dodge maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Market Perform and lowers the price target from $215 to $213.

BMO Capital Maintains Market Perform on Waste Management, Lowers Price Target to $213

RBC Capital analyst Sabahat Khan maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Sector Perform and lowers the price target from $215 to $204.

RBC Capital Maintains Sector Perform on Waste Management, Lowers Price Target to $204

CIBC analyst Kevin Chiang maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and lowers the price target from $223 to $213.

CIBC Maintains Neutral on Waste Management, Lowers Price Target to $213

Baird analyst David Manthey maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and lowers the price target from $226 to $216.

Baird Maintains Neutral on Waste Management, Lowers Price Target to $216

Waste Management Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wm#NYSE">WM</a>) reported second-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate, while revenues missed the same.
WM&#39;s adjusted earnings per share were $1.8, which increased 20.5% on a year-over-year basis. Total revenues of $5.4 billion missed the consensus estimate by a slight margin but increased 5.5% from the year-ago quarter.
Thestock has gained 26.6% in the past year, outperforming 22.9% and 22.6% growth of the industry it belongs to and the Zacks S&amp;P 500 Composite, respectively.
<div class="chart_embed">
<h3>Waste Management, Inc. Price and EPS Surprise</h3>
<h3><img alt="Waste Management, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/15/1721920401.png" style="height:263px; width:545px" title="" /></h3>
Waste Management, Inc. price-eps-surprise | Waste Management, Inc. Quote
</div>
<h3>Quarterly Numbers in Detail</h3>
The Collection segment recorded revenues of $4.2 billion, rising 4% from the year-ago quarter and surpassing our estimate of $4 billion. The Landfill segment&#39;s top line grew 2.2% year over year to $1.3 billion and met our estimate. Total revenues in the Transfer segment increased 5.6% to $618 million and outpaced our expectation of $604.4 million. The Recycling segment&#39;s revenues rose 20.6% to $475 million and beat our expectation of $416.2 million. The figures are before the alignment of intercompany adjustment.
The adjusted operating EBITDA was $1.6 billion, which met our estimate and increased 10.3% from the year-ago quarter. The adjusted operating EBITDA margin increased 130 basis points to 30% from the year-ago quarter and beat our estimate of 28.7%.
<h3>Balance Sheet &amp; Cash Flow</h3>
Waste Management exited the second quarter of 2024 with cash and cash equivalents of $172 million compared with $322 million at the end of the prior quarter. The long-term debt (less current portion) was $16.5 billion compared with $15.8 billion at the end of the prior quarter.
WM generated $1.2 billion in cash from operating activities in the reported quarter, while capital expenditure was $667 million. The free cash flow was $530 million. In the second quarter of 2024, $608 million in cash dividends was distributed to shareholders. The company&#39;s share repurchases amounted to $262 million.
<h3>2024 Outlook</h3>
For 2024, the adjusted operating EBITDA is expected to be $6.375-$6.525 billion. The free cash flow is estimated between $2 and $2.15.
Currently, WM carries a Zacks Rank #2 (Buy).
<h3>Earnings Snapshot of Some Business Services Stock</h3>
Fiserv, Inc.&nbsp;reported mixed second-quarter 2024 results.
FI&#39;s adjusted earnings per share (excluding 60 cents from non-recurring items) of $2.1 outpaced the consensus mark by 1.9% and increased 17.7% year over year. Adjusted revenues of $4.8 billion missed the consensus estimate by a slight margin but rose on a year-over-year basis.
IQVIA Holdings Analytics Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iqv#NYSE">IQV</a>) reported impressive second-quarter 2024 results.
Adjusted earnings (excluding 67 cents from non-recurring items) were $2.6 per share, outpacing the Zacks Consensus Estimate by 2.3% and increasing 2.4% on a year-over-year basis. Total revenues of $3.8 billion surpassed the consensus estimate marginally and rose 2.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2309349/waste-management-wm-q2-earnings-meet-estimates-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309349">To read this article on Zacks.com click here.</a>

Waste Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) shares are trading lower after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39943210/wm-announces-second-quarter-2024-earnings" rel="noreferrer noopener">worse-than-expected second-quarter financial results</a>.
Sales&nbsp;of $5.402 billion missed the consensus of&nbsp;$5.427 billion. Total company revenue grew&nbsp;5.5%, driven primarily by core price of&nbsp;6.8%&nbsp;and increases in the value of the recycled commodities the company sells.
Collection and Disposal yield stood at 4.6%, and Collection and Disposal volume declined 0.3% in the quarter.
Adjusted operating EBITDA grew 10.3% Y/Y to $1.62 billion, with a 130 basis point margin Y/Y expansion to 30.0%.
Adjusted operating EBITDA in the Collection and Disposal business rose $203 million to $1.84 billion, with a margin of 37.3% in the quarter.
Adjusted EPS of $1.82 <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">missed the consensus of $1.83</a>.
In the first half of the year, net cash from operating activities surged 21.6% to $2.52 billion and free cash flow before high-return sustainability investments increased 41.1% to $1.63 billion.
Jim Fish, WM&#8217;s President and Chief Executive Officer, said, &#8220;Revenue grew by 5.5% this quarter, and our disciplined focus on leveraging our people, technology and processes to reduce our cost to serve continued to drive margin expansion.&#8221;
&#8220;In our renewable energy business, we are scheduled to complete a total of five projects in 2024, with an additional nine projects currently under construction.&#8221;
Outlook: Waste Management reiterated its FY24 outlook of $6.375 billion–$6.525 billion in adjusted operating EBITDA and $2.0 billion–$2.15 billion in free cash flow including sustainability growth investments.
Last month, Waste Management inked a deal to acquire Stericycle, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCL#NASDAQ">SRCL</a>) for&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39137673/waste-management-to-acquire-stericycle-for-62-00share-in-cash-at-20-premium" rel="noreferrer noopener">approximately $7.2 billion, including debt</a>.
Investors can gain exposure to the stock via&nbsp;VanEck Environmental Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and IShares U.S. Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDU#NYSE">IDU</a>).
Price Action: WM shares are down 6.85% at $202.48 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Waste Management shares are trading lower after the company reported worse-than-expected Q2 financial results.

Waste Management Says Confident On Track To Meet Or Exceed The Midpoint Of Full-year Financial Outlook Provided In April

Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) reported quarterly earnings of $1.82 per share which missed the analyst consensus estimate of $1.83 by 0.55 percent. This is a 20.53 percent increase over earnings of $1.51 per share from the same period last year. The company reported quarterly sales of $5.402 billion which missed the analyst consensus estimate of $5.427 billion by 0.46 percent. This is a 5.53 percent increase over sales of $5.119 billion the same period last year.

Earnings Misses

Waste Management Q2 2024 Adj EPS $1.82 Misses $1.83 Estimate, Sales $5.402B Miss $5.427B Estimate

Waste Management, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wm#NYSE">WM</a>) is scheduled to release second-quarter 2024 results on Jul 24, after market close.
WM&#39;s earnings surprise history has been decent. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average beat being 7%.
<div class="chart_embed">
<h3>Waste Management, Inc. Price and EPS Surprise</h3>
<h3><img alt="Waste Management, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/44/1721392420.png" style="height:254px; width:527px" title="" /></h3>
Waste Management, Inc. price-eps-surprise | Waste Management, Inc. Quote
</div>
<h3>Q2 Expectations</h3>
The Zacks Consensus Estimate for revenues is pegged at $5.4 billion, implying a 5.7% increase from that reported in the second quarter of 2024. Revenue growth across all the segments is anticipated to have driven the top line.
Our estimate for second-quarter 2024 revenues from Collection is pegged at $4 billion, implying a 14.6% increase from the year-ago quarter&#39;s reported figure. This is likely to have been due to the customer lifetime value model that has been driving strong organic revenue growth and its sales metric.
We expect Landfill&#39;s revenues to be $1.8 billion, suggesting 1.1% growth on a year-over-year basis. TheTransfer segment&#39;s revenues are estimated to be $604.4 million, indicating a 3.3% rise from the year-ago quarter&#39;s actual. The Recycling segment&#39;s revenues are expected to be $416.2 million, implying a 12.5% increment from the year-ago quarter&#39;s actual.
Our estimate for adjusted EBITDA is pegged at $1.6 billion, indicating 6% growth from the year-ago quarter&#39;s reported figure. Efforts on cost optimization and disciplined pricing program execution are anticipated to have improved this metric.
The consensus estimate for earnings per share is pegged at $1.8, suggesting 20.5% growth from the year-ago actual. This is likely to have been driven by disciplined pricing across the lines of business, leveraging technology to reduce costs permanently to serve its customers, and executing its strategic investments in sustainability growth.
<h3>What Our Model Says</h3>
Our proven model does not predict an earnings beat for WM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
WM has an Earnings ESP of -2.54% and a Zacks Rank of 2.
<h3>Stocks to Consider</h3>
Here are a few stocks from the broader Business services sector, which, according to our model, have the right combination of elements to beat on earnings this season.
Trane Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tt#NYSE">TT</a>): The Zacks Consensus Estimate for the company&#39;s second-quarter 2024 revenues is pegged at $5.1 billion, indicating 8.7% year-over-year growth. For earnings, the consensus mark is pegged at $3.1 per share, implying a 14.9% increase from the year-ago quarter&#39;s actual. The company beat the consensus estimate in the past four quarters, with an average surprise of 7.5%.
TT currently has an Earnings ESP of +0.95% and a Zacks Rank of 2. The company is scheduled to declare its second-quarter results on Jul 31.
S&amp;P Global (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spgi#NYSE">SPGI</a>): The Zacks Consensus Estimate for the company&#39;s second-quarter 2024 revenues is pegged at $3.4 million, suggesting year-over-year growth of 9.7%. For earnings, the consensus mark is pegged at $3.6 per share, indicating a 14.7% increase from the year-ago quarter&#39;s actual. The company beat the consensus estimate in the past two quarters, missed in one and met in one, with an average surprise of 3.4%.
SPGI currently has an Earnings ESP of +2.54% and a Zacks Rank of 2. The company is scheduled to declare its second-quarter results on Jul 30.
<a href="https://www.zacks.com/stock/news/2305530/waste-management-wm-to-report-q2-earnings-what-s-in-store?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2305530">To read this article on Zacks.com click here.</a>

Earnings Beats

SPGI

Waste Management to Report Q2 Earnings: What's in Store?

Contracts

Management

Teamsters Says Waste Management Teamsters Overwhelmingly Ratify New Contract; New 5-Year Collective Bargaining Agreement Covers More Than 200 Drivers, Mechanics, & Machine Operators; Waste Management Workers Secure Substantial Pay Raise, Improved Health Care Benefits, Increased Pension Contributions

In a recent SEC filing, it was revealed that Thomas Bene, Director at Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>), made a noteworthy insider purchase on July 16,.
What Happened: Bene's recent purchase of 418 shares of Waste Management, disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000823768/000122520824007448//Archives/edgar/data/823768/000122520824007448/0001225208-24-007448-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday, reflects confidence in the company's potential. The total transaction value is $89,897.
As of Wednesday morning, Waste Management shares are up by 0.8%, currently priced at $222.66.
<h3>All You Need to Know About Waste Management</h3>
WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 263 active landfills and about 332 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.
<h3>Waste Management: A Financial Overview</h3>
Revenue Growth: Over the 3 months period, Waste Management showcased positive performance, achieving a revenue growth rate of 5.46% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Evaluating Earnings Performance:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 39.14%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): The company excels with an EPS that surpasses the industry average. With a current EPS of 1.76, Waste Management showcases strong earnings per share.
</li>
</ul>
Debt Management: Waste Management's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.27, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
Assessing Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 36.15 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 4.33 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Waste Management's EV/EBITDA ratio, surpassing industry averages at 18.04, positions it with an above-average valuation in the market.
</li>
</ul>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
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<h3>Delving Into the Significance of Insider Transactions</h3>
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Exploring Key Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates grant, award or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000823768">Check Out The Full List Of Waste Management's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Smart Money Move: Thomas Bene Grabs $89K Worth Of Waste Management Stock

Dividend Champion, Contender, And Challenger Highlights: Week Of September 8

In a report released today, Bryan Burgmeier from Citi reiterated a Buy rating on Waste Management (WM – Research Report), with a price target of $2...

Waste Management (WM) Gets a Buy from Citi

Waste Management: Still An Appealing Opportunity As Its Big Purchase Nears Completion

UBS updates its 'election watch' stocks to match new winning probabilities

WM announces private exchange offer for all of Stericycle $500M outstanding 3.875% senior notes

The environmental services industry is transforming continuously to create and discover solutions for effective waste disposal and management and is poised to proliferate. Amid this backdrop, quality stocks Ecolab (ECL), Republic Services (RSG), and Waste Management (WM) could be ideal portfolio additions. Continue reading... The ever-growing global population has resulted in an increase in waste generation. In 2016, global municipal solid waste generation stood at <a href="https://www.statista.com/statistics/246178/projected-global-waste-management-market-size/">2.02 billion metric tons</a> and was projected to surpass three billion metric tons by 2050. These concerns have emerged as key drivers for the growth of the environmental services market.
Therefore, it could be wise to invest in fundamentally strong waste disposal stocks Ecolab Inc. (<a href="https://stocknews.com/stock/ECL/">ECL</a>), Republic Services, Inc. (<a href="https://stocknews.com/stock/RSG/">RSG</a>), and Waste Management, Inc. (<a href="https://stocknews.com/stock/WM/">WM</a>) for a profitable and sustainable portfolio.
The alarmingly rising concerns of environment conservation, waste management, and sustainable practices have <a href="https://www.capstonepartners.com/insights/article-waste-and-recycling-ma-update/">brought waste disposal to the center</a>. Factors including sustainability pressure, geographic expansion and consolidation, and the addition of new service capabilities are increasingly driving merger and acquisition activities promoting the waste and recycling sector.
Companies are increasingly investing in technologies and processes to reduce their environmental footprint. Also, increasing regulatory pressures and customer demand for sustainable service are transforming the segment.
With this, the global waste management market is expected to grow from $1.20 trillion in 2024 to reach around $2.17 trillion by 2033, exhibiting growth at a <a href="https://www.marketsandmarkets.com/Market-Reports/waste-management-market-72285482.html#:~:text=The%20current%20market%20size%20of,USD%201219.6%20billion%20in%202024.">CAGR of 6.8%</a> during the forecast period (2024-2033). During the forecast period, the market is expected to evolve with advances in decomposition technologies and harsher regulatory requirements.
Given the industry's encouraging prospects, let's look at the fundamentals of the best three <a href="https://stocknews.com/category/waste-disposal/">Waste Disposal</a> stocks, beginning with the third choice.
Stock #3: Ecolab Inc. (<a href="https://stocknews.com/stock/ECL/">ECL</a>)
ECL offers water, hygiene, and infection prevention solutions and services internationally. The company operates through: Global Industrial; Global Institutional &amp; Specialty; and Global Healthcare &amp; Life Sciences segments.
On August 1, ECL closed the sale of its global surgical solutions business to Medline for a total consideration of $950 million in cash. Also, owing to ECL's strong balance sheet, the company intends to use the proceeds from this transaction to repurchase up to an additional $500 million of its stock in the second half of 2024.
On June 3, ECL's Purolite resin business, and Repligen Corporation (<a href="https://stocknews.com/stock/RGEN/">RGEN</a>), a life sciences company focused on bioprocessing technology leadership, commercially launched Purolite's DurA Cycle, a protein A chromatography resin for large-scale purification processes.
The innovation marked a significant milestone in Purolite's long-term strategic partnership with Repligen and reflected ECL's dedication to driving advancements in the bioprocessing industry.
ECL's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> increased 3.4% year-over-year to $3.98 billion for the second quarter that ended June 30, 2024. The company's non-GAAP adjusted operating income grew 30.4% from the year-ago value to $669.80 million. Adjusted net income and EPS attributable to Ecolab amounted to $481.50 million and $1.68, indicating growth of 35.3% and 35.5% from the prior year's quarter, respectively.
In addition, the company's free cash flow rose 3.2% year-over-year to $414.20 million.
As per the business outlook for the third quarter of 2024, ECL expects its adjusted EPS to be between $1.75 and $1.85, showing a 14% to 20% growth from the year-ago value.
Further, the company raised its full-year 2024 adjusted EPS range to $6.50 - $6.70, reflecting growth between 25% and 29% from the prior guidance of $6.40 - $6.70.
Street expects ECL's revenue and EPS for the third quarter (ending September 2024) to increase 2.5% and 18.3% year-over-year to $4.06 billion and $1.82, respectively. Furthermore, the company topped the consensus EPS estimates in each trailing four quarters.
Shares of ECL have surged 11.3% over the past six months and 35.5% over the past year to close the last trading session at $249.19.
ECL's solid prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Stability and Quality. Within the B-rated <a href="https://stocknews.com/category/waste-disposal/">Waste Disposal</a> industry, ECL is ranked #7 out of 13 stocks.
<a href="https://stocknews.com/stock/ECL/">Click here</a> to access additional ratings of ECL for Growth, Momentum, Sentiment, and Value.
Stock #2: Republic Services, Inc. (<a href="https://stocknews.com/stock/RSG/">RSG</a>)
RSG offers environmental services. The company is involved in the collection and processing of recyclable, solid waste, and industrial waste materials, transportation and disposal of non-hazardous and hazardous waste streams, and other environmental solutions.
On July 24, RSG's Board of Directors approved a $0.04 increase in the company's quarterly dividend. The quarterly dividend of $0.58 per share is to be paid on October 15, 2024, to shareholders of record on October 2, 2024.
RSG's annual dividend of $2.32 translates to a yield of 1.13% at the current share price. Its four-year average dividend yield is 1.40%. Moreover, the company's dividend payouts have increased at a CAGR of 8% over the past three years. RSG has raised dividends for 20 consecutive years.
On June 13, RSG and Archaea Energy, a subsidiary of BP (<a href="https://stocknews.com/stock/BP/">BP</a>), unveiled the first renewable natural gas plant under the companies' Lightning Renewables joint venture. The Archaea Modular Design (AMD) plant at RSG's National Serv-All Landfill in Fort Wayne, Ind., is the first of around 40 landfill gas-to-RNG projects targeted by the JV.
For the second quarter that ended June 30, 2024, RSG's revenue rose 8.7% from the prior-year quarter to $4.05 billion. Its operating income grew 15.1% from the year-ago value to $813.80 million. The company's adjusted net income and EPS came in at $508.90 million and $1.61, up 13.9% and 14.2% year-over-year, respectively.
In addition, the company's adjusted EBITDA increased 12.6% year-over-year to $1.26 billion.
The company updated its full-year 2024 financial guidance. RSG expects revenue in the range of $16.07 billion to $16.12 billion. Its adjusted EBITDA is expected to be $4.90 billion - $4.92 billion. Further, the company's adjusted EPS is set at $6.15 -$6.20, and adjusted free cash flow is projected to be between $2.150 billion and $2.170 billion.
Analysts expect RSG's revenue and EPS for the third quarter (ending September 2024) to increase 8% and 5% year-over-year to $4.12 billion and $1.62, respectively. Also, the company has surpassed the consensus EPS estimates in all of the trailing four quarters.
RSG's shares have gained 11.4% over the past six months and 39.3% over the past year to close the last trading session at $205.30.
RSG's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Stability and Quality. Within the B-rated Waste Disposal industry, RSG is ranked #5 among 13 stocks.
In addition to the POWR Ratings we've stated above, we also have RSG ratings for Momentum, Growth, Value, and Sentiment. Get all RSG ratings <a href="https://stocknews.com/stock/RSG/">here</a>.
Stock #1: Waste Management, Inc. (<a href="https://stocknews.com/stock/WM/">WM</a>)
WM provides environmental solutions to residential, commercial, industrial, and municipal customers internationally. The company provides collection services, a material recovery facility (MRF), or a disposal site, and owns and operates transfer stations. It also develops and operates landfill facilities to produce landfill gas to generate electricity.
On August 26, WM declared a quarterly cash dividend of $0.75 per share, payable September 27, 2024, to stockholders of record as of September 13, 2024.
WM pays an annual dividend of $3, which translates to a yield of 1.47% at the current share price. Its four-year average dividend yield is 1.59%. Moreover, the company's dividend payouts have increased at a CAGR of 9% over the past three years. WM has raised its dividends for 20 consecutive years.
On June 3, WM and Stericycle, Inc. (<a href="https://stocknews.com/stock/SRCL/">SRCL</a>), a Leader in Medical Waste Services, entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle for $62 per share in cash, representing a total enterprise value of approximately $7.2 billion including $1.4 billion of net debt.
The strategic acquisition expands WM's environmental solutions in the healthcare market while advancing WM's sustainability commitments. It provides a complementary business platform and is expected to be accretive to WM's earnings and cash flow.
WM's operating revenues for the second quarter that ended June 30, 2024, increased 5.5% from the prior year's quarter to $5.40 billion, and its adjusted income from operations grew 13.6% from the year-ago value to $1.08 billion. The company's adjusted net income and EPS came in at $732 million and $1.82, up 18.6% and 20.5% year-over-year, respectively.
Further, the company's adjusted operating EBITDA increased 10.3% from the year-ago value to $1.62 billion.
Analysts expect WM's EPS for the third quarter (ending September 2024) to increase 15.7% year-over-year to $1.89, and its revenue is estimated to grow 6.1% year-over-year to $5.52 billion for the same period. Moreover, WM topped the consensus EPS estimates in three of the trailing four quarters.
WM's stock has surged 2.1% over the past month and 32.4% over the past year to close the last trading session at $208.46.
WM's POWR Ratings reflect its robust prospects. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
WM has a B grade for Stability and Quality. It is ranked #3 among the 13 stocks in the same industry.
<a href="https://stocknews.com/stock/WM/">Click here</a> to access additional WM ratings for Sentiment, Momentum, Value, and Growth.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
WM shares were trading at $208.25 per share on Tuesday afternoon, down $0.21 (-0.10%). Year-to-date, WM has gained 17.12%, versus a 16.19% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/wm-ecl-rsg-3-environmental-services-stocks-cleaning-up-the-planet/>3 Environmental Services Stocks Cleaning Up the Planet</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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