2 Top Environmental Services Stocks To Buy Right Now

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Because people have been spending more time at home and most economic activities came to a temporary halt amid the COVID-19 pandemic, the demand for services provided by companies in the environmental service space also declined. However, with the gradual increase in industrial activities, companies such as Waste Management (WM) and Clean Harbours (CLH) are expected to see increasing demand for their services in the coming months. So, we think it could be wise to bet on these stocks.

Companies in the environmental service space were dealt a major setback by the COVID-19  pandemic. But given the nature of the services companies in this space provide they  are expected to witness steady demand in the near- to mid-term. This is because most industries are resuming their operations as the effects of mass vaccination programs kick in.

As industrial activities come back to life as the deadly virus is brought under control the generation of waste generated is expected to increase. This will result in a resumption in the demand for services provided by companies such as Waste Management, Inc. (WM - Get Rating) and Clean Harbours, Inc. (CLH - Get Rating).

So, we believe that against this backdrop, betting on these stocks could be rewarding.

Waste Management, Inc. (WM - Get Rating)

Based in Houston, Texas, WM is a provider of waste management environmental services. The company operates through two segments — Solid Waste and Other. The company’s  Other segment includes its Strategic Business Solutions (WMSBS) organization, its landfill gas-to-energy operations, and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations, along with recycling, materials processing and recycling commodities services.

The company’s operating revenues have increased 5.7% year-over-year to $4.07 billion for the fourth quarter ended, December 31, 2020. Its adjusted net income has increased 3.4% sequentially to $481 million. WM’s  adjusted operating EBITDA came in at $1.14 billion, up 1.9% year-over-year. The company’s adjusted EPS came in at $1.13, up 3.7% sequentially.

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