Seeking Alpha

More on Waste Management Q2: Net income +17.3%

  • Waste Management's (WM) net income +17.3% to $244M as revenues rise 1.9% to $3.53B.
  • Internal revenue growth 2.1%.
  • Income from operations in traditional solid waste business +$47M.
  • SG&A cost savings $21M; operating expenses +$51M.
  • Net cash from operating activities $545M, increased free cash flow to $347M
  • Average recycling commodity prices -12.5% on year.
  • Expects recycling operations to hurt FY results by $0.08/share vs 2012, up from original forecast of $0.02.
  • However, still expects FY adjusted EPS of $2.15-2.20 vs consensus of $2.18, and free cash flow of $1.1-1.2B. (Previous) (PR)
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