Integrated waste services provider Waste Management Inc. (WMI) is due to release its fourth quarter results before market opens Thursday, February 12, with a conference call scheduled at 10:00 am ET.
Analysts surveyed by Thomson Reuters expected the company to report earnings of $0.48 per share on revenues of $3.18 billion for the quarter. Analysts' estimates typically exclude special items. The consensus range is $0.44 - $0.51 for earnings per share and $2.99 billion - $3.27 billion for revenues.
For the third quarter, the No.1 trash hauler company posted net income of $310 million or $0.63 per share, up from last year's income of $278 million or $0.54 per share. Third quarter revenue rose 3.6% in the quarter to $3.53 billion from $3.40 billion last year.
While announcing Q3 results, Waste Management said it expects recycling line of business to negatively impact earnings by as much as $0.03 per share in the fourth quarter. The company issued fiscal 2008 forecast when it announced second quarter results, expecting 2008 earnings in range of $2.19 - $2.23 per share.
David Steiner, Chief Executive Officer of Waste Management, said, "The recycling commodity markets have become very volatile over the last two weeks. During 2008, we have benefited from high recycling commodity prices. We do not expect a year-over-year benefit in the fourth quarter."
The company has not been immune to the economic downturn, reflected by a 5% decline in volume. Analysts expect Waste Management to announce that it raised prices by 2% to combat the volume erosion.
In the mid-December, Waste Management announced the approval a 2009 capital allocation program, which includes up to $1.3 billion in cash available for cash dividends payments, common stock repurchases, debt reduction and acquisitions in 2009.
The $4.5 billion merger of rivals Republic Services Inc. and Allied Waste Industries Inc. also pose a formidable threat to the company.
Republic Services Inc. (RSG) is likely to report its fourth quarter results on February 27. Analysts are looking for earnings of $0.44 per share on revenues of $1.81 billion for the quarter.
Among others in the sector, Casella Waste Systems Inc. (CWST) in early December said it lowered its 2009 revenue guidance to $580 million - $600 million from prior forecast of $610 million - $628 million, citing continued weakness in commodity pricing and softening of economic conditions through the remainder of the fiscal year.
Waste Management closed Wednesday's trading session at $28.45, up 15 cents or 0.53%. In the past 52 weeks, the stock has been trading between $24.51 and $39.25.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.