Financial News
Q1 Earnings Review: Waste Management Stocks Led by Montrose (NYSE:MEG)
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the waste management stocks, including Montrose (NYSE: MEG) and its peers.
Waste management companies can possess licenses permitting them to handle hazardous materials. Furthermore, many services are performed through contracts and statutorily mandated, non-discretionary, or recurring, leading to more predictable revenue streams. However, regulation can be a headwind, rendering existing services obsolete or forcing companies to invest precious capital to comply with new, more environmentally-friendly rules. Lastly, waste management companies are at the whim of economic cycles. Interest rates, for example, can greatly impact industrial production or commercial projects that create waste and byproducts.
The 9 waste management stocks we track reported a mixed Q1. As a group, revenues missed analysts’ consensus estimates by 1%.
Luckily, waste management stocks have performed well with share prices up 10.3% on average since the latest earnings results.
Best Q1: Montrose (NYSE: MEG)
Founded to protect a tree-lined two-lane road, Montrose (NYSE: MEG) provides air quality monitoring, environmental laboratory testing, compliance, and environmental consulting services.
Montrose reported revenues of $177.8 million, up 14.5% year on year. This print exceeded analysts’ expectations by 6%. Overall, it was a stunning quarter for the company with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EPS estimates.
Montrose Chief Executive Officer and Director, Vijay Manthripragada, commented, "Our uniquely integrated portfolio of environmental science-based solutions and technology continues to position Montrose to exceed expectations. We reported our highest-ever first-quarter revenue, Consolidated Adjusted EBITDA, and operating cash flow. In November 2024, we announced an acquisition pause to focus on stated objectives—to deliver high-single-digit organic revenue growth, enhance margins, improve cash flow generation, prioritize redemption of the preferred shares, optimize our balance sheet, and maintain ample liquidity. Our first quarter performance demonstrates the initial benefits of this shift in our focus. Numerous tailwinds, which we expect to sustain, drove our strong results and underpin confidence in our strengthened 2025 guidance. Examples of key tailwinds include: our private sector clients' increasing industrial activity, the impact of US state regulations on our private and public sector clients, and the strategic advantages of our integrated business model and service portfolio."

Montrose achieved the biggest analyst estimates beat and highest full-year guidance raise of the whole group. Unsurprisingly, the stock is up 53.4% since reporting and currently trades at $23.
We think Montrose is a good business, but is it a buy today? Read our full report here, it’s free.
Waste Connections (NYSE: WCN)
Operating a network of municipal solid waste landfills in the U.S. and Canada, Waste Connections (NYSE: WCN) is North America's third-largest waste management company providing collection, disposal, and recycling services.
Waste Connections reported revenues of $2.23 billion, up 7.5% year on year, in line with analysts’ expectations. The business had a very strong quarter with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ adjusted operating income estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.9% since reporting. It currently trades at $183.74.
Is now the time to buy Waste Connections? Access our full analysis of the earnings results here, it’s free.
Slowest Q1: Perma-Fix (NASDAQ: PESI)
Tackling hazardous waste challenges since 1990, Perma-Fix (NASDAQ: PESI) provides environmental waste treatment services.
Perma-Fix reported revenues of $13.92 million, up 2.2% year on year, falling short of analysts’ expectations by 9%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.
Perma-Fix delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 30.5% since the results and currently trades at $11.55.
Read our full analysis of Perma-Fix’s results here.
Enviri (NYSE: NVRI)
Cooling America’s first indoor ice rink in the 19th century, Enviri (NYSE: NVRI) offers steel and waste handling services.
Enviri reported revenues of $548.3 million, down 8.7% year on year. This result missed analysts’ expectations by 2.1%. Aside from that, it was a strong quarter as it put up an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Enviri had the slowest revenue growth among its peers. The stock is up 35.4% since reporting and currently trades at $9.29.
Read our full, actionable report on Enviri here, it’s free.
Waste Management (NYSE: WM)
Headquartered in Houston, Waste Management (NYSE: WM) is a provider of comprehensive waste management services in North America.
Waste Management reported revenues of $6.02 billion, up 16.7% year on year. This number lagged analysts' expectations by 1.4%. Overall, it was a mixed quarter for the company.
The stock is down 1.5% since reporting and currently trades at $225.51.
Read our full, actionable report on Waste Management here, it’s free.
Market Update
In response to the Fed’s rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed’s 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump’s presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
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