Waste Management hits all expectations

The Company, through its subsidiaries, is a provider of waste management environmental services. The Company's segments include Solid Waste and Other. The Company's Solid Waste segment includes its stable waste business. The other part includes its Strategic Business Solutions (WMSBS) organization which landfill gas-to-energy operations and third-party subcontract.
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Waste Management Company, operating in the field of collection, transportation, recycling and disposal of waste, published financial results for the second quarter.
The Company's revenue in the reporting period jumped by 5.5% to $ 3.95 billion (due to an increase in tariffs and the volume of garbage collection) compared to $ 3.739 billion a year earlier.
Net income in Q2 amounted $ 381 million, or $ 0.89 per share, compared with $ 499 million, or $ 1.15 per share a year earlier. Adjusted net income (excluding costs of union, uptakes and one-time write-offs) was $ 470 million or $ 1.11 per share, compared with $ 438 million or $ 1.01 per share a year earlier, while analysts had forecast profits per share of $ 1, 07 cents per share.
Waste Management spent $ 48 million on union and uptake deals in the first quarter and sent $ 217 million and $ 180 million to pay dividends and repurchase shares, respectively. The effective tax rate was 23.3%.
The leadership of the corporation confirmed that profits per share for the year would be in the range of $ 4.28-4.38, but market watchers are waiting for $ 4.3 per share. At the same time, the adjusted EBITDA in the current year is expected in the interspace of $ 4.40-4.45 billion.
The financial outcome of Waste Management for Q2 was better than analysts predicted. At the same time, the management reaffirmed the forecasts for the economic indicators for the current year, despite the problems with optimizing the activities of the Refining division.
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