Tue, Jan. 5, 9:56 AM
- Progressive Waste Solutions (BIN +6.5%) opens higher after saying it has begun a review of strategic alternatives, confirming an earlier report that it may be considering a sale.
- Logical buyers could include Waste Connections (WCN -0.2%) and Republic Services (RSG +0.2%), both of which can afford a 25% buyout premium and still have a deal be accretive to their earnings even before factoring in any cost savings, but they may be reluctant to take on more debt, and RSG has said that while it is focused on growing via acquisition, those will probably total just ~$100M/year.
- Waste Management (WM -0.1%) arguably is even more likely to pass on BIN, Bloomberg's Gillian Tan writes, as its stock has lagged most competitors except BIN, it is focused on smaller acquisitions, and antitrust hurdles provide an obstacle as the industry's biggest player.
Feb. 17, 2015, 8:07 AM
- Adjusted net income of $308M, or $0.67 per diluted share vs. $263M, or $0.56 per diluted share, in Q4 of 2013.
- During the quarter, the company returned $172M to shareholders in dividends.
- Free cash flow of $2.1B vs. $175M in the same quarter a year ago.
- Outlook for 2015: Adjusted earnings per diluted share of $2.48-$2.55 (+8%-11% Y/Y); free cash flow of $1.4B-$1.5B; capex of $1.2B-$1.3B.
- WM +2.4% premarket
- Q4 results
Feb. 18, 2014, 12:49 PM
- Waste Management (WM -4.6%) shares sink after the company’s Q4 results and FY 2014 guidance missed consensus estimates.
- Recycling operations hurt earnings by $0.03/share during Q4 and $0.12/share for the full year, $0.10 more than expected.
- Internal revenue growth from yield for collection and disposal operations was 2.4% during Q4 vs. a yield of 0.9% in the year-ago period; expects 2014 internal revenue growth from yield on the collection and disposal business of ~2% and internal revenue growth from volume of -1%.
- WM's 2014 outlook projects adjusted EPS of $2.30-$2.35, below the $2.41 estimated by analysts.
- Wedbush maintains a Neutral rating on WM shares with a 12-month price target of $40, but says its estimates and rating were under review.
Sep. 19, 2012, 3:47 PM
Waste Management (WM -3.4%) is downgraded to Underweight from Neutral at J.P. Morgan, which says industry conditions have become more challenging due to declines in recycled commodity prices and its exposure to spot electricity prices. The firm also says a lower cash flow outlook cuts into WM's ability to increase dividends or buy back shares.| Sep. 19, 2012, 3:47 PM | 4 Comments
Jul. 26, 2012, 8:08 AM
Jul. 11, 2012, 2:49 PMWaste Management (WM -5.9%) continues lower following a downgrade to Underweight from Morgan Stanley's Vance Edelson. Buy Republic Services (RSG) instead, he says. It's cheaper, buying back more of its shares, and is entangled with fewer "non-core distractions." | Jul. 11, 2012, 2:49 PM | 5 Comments
Apr. 26, 2012, 10:55 AM
Waste Management (WM -1.7%) slides after reporting a mixed Q1 result earlier today, beating on total revenue but missing estimates on a per share basis. Net earnings dropped 8.1% Y/Y as bottom line margins were hit by higher fuel costs and weak commodity prices for its recycled materials. The company adds that the impact of lower commodity prices on its recycling and waste-to-energy businesses will continue to affect results into Q2 as well.| Apr. 26, 2012, 10:55 AM
Feb. 16, 2012, 3:27 PMWaste Management (WM -1.9%) trades lower after posting a mixed Q4 earlier today. Earnings fell 5.3% Y/Y amid higher charges though the waste-disposal company saw higher revenue. The company also issued a cautious full-year earnings estimate, now seeing its EPS towards the low-end of estimates at $2.22 - $2.30 per share. The Street is at $2.29. | Feb. 16, 2012, 3:27 PM
Dec. 9, 2011, 12:33 PM
Waste Management (WM +2.2%) announces plans to boost its quarterly dividend by 4.4%, making it the eighth straight year the nation's largest trash hauler and landfill operator has boosted its shareholder payout.| Dec. 9, 2011, 12:33 PM