The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how waste management stocks fared in Q2, starting with Republic Services (NYSE:RSG).

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 8 waste management stocks we track reported a slower Q2. As a group, revenues missed analysts’ consensus estimates by 1.9%.

Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 due to cooling inflation. This year has been a different story as mixed inflation signals have led to market volatility. However, waste management stocks have held steady amidst all this with average share prices relatively unchanged since the latest earnings results.

Republic Services (NYSE:RSG)

Republic (NYSE:RSG) provides waste management services for residences, companies, and municipalities.

Republic Services reported revenues of $4.05 billion, up 8.6% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a solid beat of analysts’ operating margin estimates but a miss of analysts’ volume estimates.

"We continue to prioritize our differentiating capabilities – Customer Zeal, Digital and Sustainability – to help our customers achieve their operational and sustainability goals, and drive significant value for our stakeholders," said Jon Vander Ark, president and chief executive officer.

Republic Services delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 3.2% since reporting and currently trades at $206.

Is now the time to buy Republic Services? Access our full analysis of the earnings results here, it’s free.

Best Q2: Clean Harbors (NYSE:CLH)

Established in 1980, Clean Harbors (NYSE:CLH) provides environmental and industrial services like hazardous and non-hazardous waste disposal and emergency spill cleanups.