Waste Management Scoops Up 5% Revenue Growth
The United States produces more than 300 million metric tons of municipal solid waste each year. As second-quarter 2019 operating results show, Waste Management (NYSE: WM) is collecting a growing share of it.
The business reported quarterly revenue of $3.95 billion, marking a more-than-5% increase from the year-ago period that was driven entirely by its collection and disposal services. That's encouraging considering Waste Management has been spending heavily to maintain, modernize, and grow its fleet and landfills. While net income and free cash flow declined year over year due to the increase in capital expenditures, the business generated a healthy $440 million in free cash flow during the quarter.
The strong finish to the first half of the year puts Waste Management on track to reach its full-year 2019 guidance. Here's what investors need to know about the latest operating results.
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