Waste Management Stock Climbs After Earnings: What's Going On?
Portfolio Pulse from Erica Kollmann
Waste Management, Inc. (NYSE:WM) shares rose after reporting Q4 earnings that exceeded expectations, with adjusted earnings of $1.74 per share and quarterly sales of $5.22 billion. The company's strong performance is attributed to effective pricing and operating excellence programs, leading to a record adjusted margin of 29.9%. Waste Management anticipates adjusted operating EBITDA for 2024 to be between $6.275 billion and $6.425 billion, signaling continued growth.
February 13, 2024 | 5:43 pm
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Waste Management, Inc. (WM) reported higher than expected Q4 earnings, with a significant year-over-year increase in earnings per share and sales. The company's optimistic outlook for 2024 suggests sustained growth.
The positive earnings report and the optimistic outlook for 2024 provided by Waste Management's CEO indicate a strong financial health and operational efficiency of the company. This is likely to instill confidence in investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100