Waste Management Shares Drop After Third-Quarter Earnings Miss Estimates
Waste Management (WM) shares declined 3.5% in extended trading following the release of third-quarter results that fell short of Wall Street's earnings expectations. While the company reported revenue growth and improved cash flow, rising operational costs weighed heavily on the bottom line. The Houston-based waste collection and recycling leader posted adjusted earnings per share of $2.15. Despite the miss in profitability, the underlying strength in revenue suggests continued demand for its services, though investors reacted negatively to the margin pressure caused by increasing expenses.
Tickers: $WM
Topics: earnings report quarterly results stock price movement