Waste Management Sees FY23 Revenue Growth Expected To Be Between 3.25%-4.25%, Lower Then Expected By 100 Basis Points At The Midpoint
Portfolio Pulse from Happy Mohamed
Waste Management has revised its FY23 outlook, expecting revenue growth to be between 3.25% and 4.25%, lower than prior expectations by 100 basis points at the midpoint. This is largely due to lower than expected electricity and natural gas prices, and slower recovery of recycled commodity prices. Adjusted operating EBITDA is expected to be between $5.775 and $5.875 billion, below prior expectations by $75 million. However, free cash flow is projected to be between $1.675 and $1.775 billion, above prior expectations by $175 million.
July 25, 2023 | 9:07 pm
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Waste Management's revised FY23 outlook indicates lower than expected revenue growth and adjusted operating EBITDA, but higher free cash flow. This could potentially impact the company's stock price.
The revised outlook indicates that Waste Management is expecting lower revenue growth and adjusted operating EBITDA than previously anticipated, which could negatively impact investor sentiment and the company's stock price. However, the projected increase in free cash flow could offset some of this negative impact.
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