For his second Executive Decision segment of "Mad Money" Monday, host Jim Cramer spoke with Jim Fish, president and CEO of Waste Management (WM) , which just posted a beat-and-raise quarter.
Fish said everyone expected Waste Management's revenues and volumes to be down, but fortunately, they were down less than many people expected. The other silver lining was that Waste Management discovered it can run its operations at lower costs than it expected.
When asked about the economy, Fish said Waste Management isn't beholden to any one sector. That means as retail and restaurant volumes declined along with stadiums and other venues, residential volumes picked up. Housing continues to be a positive for the company, a trend Fish said he expects to continue well into 2021. And he reminded viewers that Waste Management is America's largest recycler.
Let's check out a few charts before they get recycled. We looked at WM back on May 7 and wrote at that time, "WM needs to adjust to the new economy and so do the charts, which need a lot more base building. Avoid the long side for now."