- Waste Management press release ( NYSE: WM ): Q2 Non-GAAP EPS of $1.44 beats by $0.05 .
- Revenue of $5.03B (+12.3% Y/Y) beats by $190M .
- Core price for the second quarter of 2022 was 7.5% compared to 6.2% in the second quarter of 2021. (d)
- Collection and disposal yield was 6.2% in the second quarter of 2022 compared to 3.7% in the second quarter of 2021.
- Total Company volumes increased 1.6% in the second quarter of 2022 and collection and disposal volumes increased 2.3%. Total Company and collection and disposal volumes increased 9.2% in the second quarter of 2021 driven largely by strong recovery from the pandemic.
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REVISED 2022 OUTLOOK
- Total Company revenue growth in 2022 is expected to be approximately 10% (8.1% consensus), an increase of 400 basis points from the midpoint of prior guidance. Combined internal revenue growth from yield and volume in the collection and disposal business is now expected to approach 8.5%.
- Adjusted operating EBITDA is now expected to be between $5.5 and $5.6 billion in 2022, an increase of $175 million from prior guidance. (a)
- The Company’s projected adjusted operating EBITDA margin at the midpoint of its guidance range is 28.1%, which includes an estimated 60-basis-point headwind related to increased fuel costs. (a)
- Free cash flow is projected to exceed the upper end of the Company’s previous guidance range of $2.6 to $2.7 billion excluding the targeted sustainability growth investments, or $2.05 to $2.15 billion including sustainability growth investments. (a)
- The Company expects to complete between $300 and $400 million of acquisitions in 2022. The Company’s revenue and operating EBITDA guidance provided above exclude incremental contributions from acquisitions.
- The Company expects to repurchase an additional $980 million of its common stock in 2022, exhausting the full $1.5 billion of share repurchase authorization previously announced.
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Waste Management Non-GAAP EPS of $1.44 beats by $0.05, revenue of $5.03B beats by $190M, guides above FY consensus