1Q25 Revenue: $6.01B, +16.5% YoY, miss estimates by $90M
1Q25 Non-GAAP EPS: $1.67, beat estimates by $0.08
FY25 Guidance: Reaffirm FY2025 guidance. Expect revenue to be between $25.6bn – $25.8bn, representing a growth of 16.4%, including 5.7% organic growth and 10.7% acquisition growth, and vs consensus of $25.6bn; Expect adjusted operating EBITDA to be between $7.45bn – $7.65bn, representing a growth of 15.0%; Expect adjusted operating EBITDA margin to be between 29.2% – 29.7%; Expect free cash flow to be between $2.68bn – $2.78bn. FY25 EPS consensus of $7.59.
Comment: Waste Management delivered revenue below expectations but posted solid growth in its core operations, supported by contributions from its newly acquired healthcare segment. Management attributed the company’s performance to a disciplined approach to revenue growth, ongoing cost optimization, and strategic investments. They reaffirmed confidence in achieving their FY25 targets, highlighting the strength and resilience of WM’s business model. The company continues to prioritize enhancing operational efficiency and unlocking growth from acquisitions and sustainability initiatives. However, the market noted that while Waste Management projects meaningful earnings growth in 2025, much of the upside from its sustainability investments is expected to be realized in later years. 2Q25recommended trading range: $215 to $238. Neutral Outlook.
1Q25 Revenue: $2.84B, -9.3% YoY, beat estimates by $10M
1Q25 Non-GAAP EPS: $2.64, beat estimates by $0.04
2Q25 Guidance: Expect revenue to be between $2.80bn to $3.0bn, midpoint of $2.90bn above consensus of $2.85bn; Expect non-GAAP operating income to be between $862.0mn – $984.0mn; Expect non-GAAP diluted EPS to be between $2.46 to $2.86, midpoint of $2.66 above consensus of $2.65.
Comment: NXP Semiconductors delivered a solid set of results, with its outlook reflecting cautious optimism amid ongoing market challenges, particularly those stemming from tariff-related disruptions. The company continues to demonstrate resilience in navigating a volatile macro environment. In parallel, NXP announced a leadership transition, with CEO Kurt Sievers set to retire by year-end and Rafael Sotomayor assuming the role of president as of April 28, 2025. While the transition underscores a proactive succession plan, it introduces an additional layer of uncertainty at a time of heightened external pressures. 2Q25recommended trading range: $150 to $200. Neutral Outlook.
