Waste Management rises after Q1 beat

Clean Harbors

26/04/2022 14:28

** Shares of Waste Management Inc  WM.N  jump 3% premarket
to $160 following Q1 beat; set to snap two straight days of
declines, if gains hold 
    ** Houston, Texas-based co posts revenue of $4.66 bln versus
estimates of $4.45 bln, per Refinitiv data
    ** WM reports profit of $1.29/shr vs est $1.14/shr -
Refinitiv data
    ** Co posts higher operating expense margin in Q1, citing
higher wages for front-line employees and commodity prices for
recyclables  urn:newsml:reuters.com:*:nBw156SHja
    ** In mid-April, investors gave garbage and waste handling
cos mixed reviews, with BMO downgrading the WM stock while
Oppenheimer raised its PT; stock has 8 of 18 "buy" ratings or
higher, 9 "hold" and 1 "sell" 
    ** As of last close, shares down 7% YTD vs Republic Services
 RSG.N  down 5% and Clean Harbour  CLH.N  up 5%

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))