WASHINGTON (dpa-AFX) - Environmental solutions company Waste Management, Inc. (WM) on Thursday reaffirmed its adjusted earnings guidance for the full-year 2019 ahead of its Investor Day at the New York Stock Exchange later in the day.
For fiscal 2019, the company continues to project adjusted earnings in a range of $4.28 to $4.38 per share, adjusted operating EBITDA between $4.40 billion and $4.45 billion, and free cash flow between $2.025 billion and $2.075 billion.
The outlook excludes Advanced Disposal Services, Inc. acquisition-related financing costs and revisions in outlook for capital allocated to share repurchases.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.32 per share on net sales of $15.66 billion for the year. Analysts' estimates typically exclude special items.
Looking ahead to the long-term average annual growth targets for the period 2019 to 2021, the company expects revenue growth in the collection and disposal business of between 4 and 6 percent, adjusted operating EBITDA growth of between 5 and 7 percent and free cash flow growth of between 5 and 7 percent.
At the Investor Day event, the company will provide an in-depth review of the Company's long-term vision, growth strategies, capital allocation framework, and operational and financial objectives.
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