Daily Stock Market News

Waste Management CEO Jim Fish touts ‘pretty darned robust’ 2022 outlook

Waste Management CEO and President Jim Fish on Wednesday expressed confidence in the company’s 2022 prospects, despite the continued presence of inflationary pressures.

“Our guidance that we just gave for 2022 is pretty darned robust,” Fish said in an interview on “Mad Money,” referring to projected organic revenue growth of 6% and adjusted operating EBITDA growth of roughly 7%.

“That’s at the very top end of the range that we gave a couple of years ago at an investor day, and that’s in the face of still a pandemic out there and still this high inflation,” Fish told CNBC’s Jim Cramer. “It’s all organic,” he added. “We really haven’t bought anything of size in the last 12 months.”

Waste Management is focused on investing in technology that automates certain positions within the company that have high turnover and its renewable natural gas facilities, Fish said, while also returning capital to shareholders.

Waste Management said earlier Wednesday that its board intends to increase its annual dividend by 30 cents to $2.60. The board in December also authorized a $1.5 billion stock buyback program.

“The business is throwing off a ton of cash, and we’re giving a lot of it back to shareholders,” Fish said.

Shares of Waste Management fell 1.1% Wednesday, ending the session at $148.12, off its lows of the day. Before the market opened, Waste Management reported adjusted earnings of $1.26 per share, which was in line with Wall Street’s estimates.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

Read More: Waste Management CEO Jim Fish touts ‘pretty darned robust’ 2022 outlook

You might also like
A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.