Why Waste Management Stock Jumped Today
Shares of waste collection and recycling industry leader Waste Management (NYSE: WM) were up 5% as of 1 p.m. ET Tuesday, according to data provided by S&P Global Market Intelligence.
In addition to outpacing analysts' expectations for the third quarter, Waste Management's leadership hinted at the likelihood of quickly rising free cash flows (FCF) over the next few years.
During Q3, the company grew its revenue by 8%, while its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 11%. Furthermore, Waste Management grew cash from operations (CFO) for the first three quarters of 2024 by 16% versus the same period in 2023.
Source Fool.com
