Waste Management beats Q2 earnings estimates but lowers revenue outlook, disappointing investors despite $6.68 billion in quarterly sales.
Waste Management (WM) reported second-quarter earnings above Wall Street expectations but fell short on revenue and reduced its full-year sales forecast. The company posted $6.68 billion in revenue for the quarter, missing analyst projections.
The waste services firm had previously guided for stronger sales growth, but weaker-than-expected demand prompted the downward revision. Comparable revenue in the prior-year quarter stood at $5.23 billion, reflecting a slower pace of expansion.
Shares declined 2.7% in extended trading following the announcement, reflecting investor concerns over the revised outlook.