Research Desk Line-up: Republic Services Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 7, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Waste Management, Inc. (NYSE: WM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=WM, following the Company's posting of its second quarter fiscal 2017 results, on July 26, 2017. The largest provider of comprehensive waste management services in North America surpassed revenue expectations and re-affirmed adjusted earnings and free cash flow guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Waste Management industry. Pro-TD has currently selected Republic Services, Inc. (NYSE: RSG) for due-diligence and potential coverage as the Company reported on July 27, 2017, its financial results for Q2. Register for a free membership today, and be among the early birds that get access to our report on Republic Services when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on WM; also brushing on RSG. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=WM

http://protraderdaily.com/optin/?symbol=RSG

Earnings Reviewed

Waste Management's revenues for Q2 2017 were $3.68 billion compared with $3.43 billion for Q2 2016. The increase in the Company's revenue was driven by positive yield and volume in its collection and disposal business, which contributed $158 million to revenue growth, and higher recycling commodity prices and volumes, which contributed $90 million of revenue growth. Waste Management's revenue numbers topped analysts' estimates of $3.64 billion.

During Q2 2017, Waste Management's core price, which consists of price increases net of rollbacks, plus fees other than the Company's fuel surcharge, was 4.7%. Waste Management's internal revenue growth from volume was 3.4% in Q2 2017. The Company's internal revenue growth from yield for collection and disposal operations totaled 1.9%; while internal revenue growth from the volume in the Company's traditional solid waste business was 3.2% in the reported quarter.

Waste Management's operating expenses, as a percent of revenue, were 62.3% in Q2 2017 compared to 62.2% in Q2 2016. The Company's operating expenses as a percentage of revenue in its traditional solid waste business improved approximately 70 basis points during the reported quarter, although that margin improvement was offset by growth in its lower margin recycling brokerage business and higher fuel costs. As a percent of revenue, Waste Management's selling, general, and administrative expenses (SG&A) were 9.6%, reflecting a 30 basis point improvement over the prior year's comparable quarter.

For Q2 2017, Waste Management's net income was $362 million, or $0.81 per diluted share, compared with net income of $287 million, or $0.64 per diluted share, for Q2 2016. On an as-adjusted basis, the Company, excluding certain items, net income was $329 million, or $0.74 per diluted share, in the prior year's corresponding quarter. Waste Management's earnings slightly missed Wall Street's estimates of $0.82 per share.

Cash Matters

Waste Management's net cash generated from operating activities was $813 million compared to $762 million in Q2 2016; an increase of 6.7%. The Company's capital expenditures were $299 million in the reported quarter compared to $312 million in the prior year's same quarter.

For Q2 2017, Waste Management's free cash flow was $520 million compared to $461 million in Q2 2016, representing growth of 12.8%. The Company returned $437 million to shareholders during the reported quarter, paying $187 million in dividends and repurchasing $250 million of its common stock.

Outlook

Waste Management stated that based upon its strong start to 2017, the Company is on track to meet the upper end of its FY17 forecast for adjusted earnings per diluted share in the range of $3.14 and $3.18 and free cash flow of between $1.5 billion and $1.6 billion. During Q3 2017, Waste Management expects to enter agreements to repurchase $500 million of the Company's common stock.

Stock Performance

Waste Management's share price finished last Friday's trading session at $75.52, marginally sliding 0.13%. A total volume of 1.35 million shares have exchanged hands. The Company's stock price surged 2.90% in the last three months, 8.43% in the past six months, and 14.81% in the previous twelve months. Additionally, the stock gained 6.50% since the start of the year. Shares of the Company have a PE ratio of 25.89 and have a dividend yield of 2.25%. The stock currently has a market cap of $33.28 billion.

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SOURCE: Pro-Trader Daily