Waste Management Clocks 9% Revenue Growth In Q3 Aided By Collection & Disposal Business

Waste Management Inc WM reported third-quarter FY22 revenue growth of 8.8% year-over-year to $5.08 billion, beating the consensus of $5.05 billion.
Adjusted EPS of $1.56 beat the consensus of $1.51.
Adjusted operating EBITDA margin expanded by 50 bps to 28.6%.
Waste Management generated cash from operating activities of $1.18 billion. Free cash flow was $432 million.
The core price for the third quarter of 2022 was 8.2% compared to 4.6% in 3Q21.
Total Company volumes increased 1.0%, or 1.3% on a workday-adjusted basis, in the third quarter of 2022, and collection and disposal volumes increased 1.4% or 1.7% on a workday-adjusted basis.
"As we have seen all year, our team delivered strong results in the third quarter, driven by the strength and resiliency of our collection and disposal business," CEO Jim Fish said.
"Our operational performance puts us on track to achieve the higher full-year outlook we provided last quarter as the solid waste business delivers strong results that will work to overcome the headwind we now expect from lower market prices for recycled commodities," Fish concluded.
Price Action: WM shares traded lower by 2.26% at $161.32 on the last check Wednesday.
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