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Seth Weber

Managing Director and Senior Equity Research Analyst at Wells Fargo & Company/mn

Seth Weber is a Managing Director and Senior Equity Research Analyst at Wells Fargo Securities, specializing in industrials and machinery sectors with a particular focus on leading companies such as Caterpillar, Deere & Company, Cummins, AGCO, and CNH Industrial. He is known for his rigorous research and market insight, consistently providing highly rated investment recommendations and holding a strong track record recognized on platforms like TipRanks with a success rate of over 62% and an average annual return exceeding 9%. Weber began his equity research career in the early 2000s, previously serving as a Director at RBC Capital Markets and an analyst at Lehman Brothers before joining Wells Fargo in 2018. Holding FINRA Series 7, 63, 86, and 87 licenses, he has earned a reputation for his expertise in industrials coverage and has been cited as a top analyst in the sector.

Seth Weber's questions to WASTE MANAGEMENT (WM) leadership

Question · Q4 2025

Seth Weber, Equity Research Analyst at BNP Paribas, inquired about the Healthcare cross-selling opportunity, asking if the focus remains on small and medium-sized customers or if WM is gaining better traction with large hospital networks. He also requested an update on the national accounts business across the entire company, specifically if its low double-digit CAGR is continuing or improving in 2025.

Answer

CEO Jim Fish stated that the Healthcare cross-selling opportunity is ultimately expected to be more significant with large hospital networks, as decision-makers for solid waste and healthcare waste are often the same, and WM's combined service offerings resonate strongly. Jim Fish also highlighted that the national accounts business has been a "real success story" for WM, demonstrating strong performance in both volume and price through differentiated service and data analytics, improving significantly over the past decade.

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Fintool can predict WASTE MANAGEMENT logo WM's earnings beat/miss a week before the call

Question · Q4 2025

Seth Weber inquired about the Healthcare cross-selling opportunity, specifically if it's still focused on small and medium-sized customers or gaining traction with large hospital networks. He also asked for an update on the national accounts business, and if its low double-digit CAGR was maintained or improved in 2025.

Answer

CEO Jim Fish believes Healthcare cross-selling will ultimately be more of a large customer opportunity (A, B, C segments) as decision-makers for solid waste and healthcare waste are often the same, offering a strong value proposition. He also stated that national accounts have been a success story, performing well on both volume and price due to differentiated service, data, and analytics.

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Seth Weber's questions to H&E Equipment Services, Inc. (HEES) leadership

Question · Q4 2023

Asked about the 2024 CapEx guidance, whether it reflected a pull-forward of spending, and its ability to support utilization levels. Also inquired about the rental rate outlook for 2024, free cash flow expectations, and guidance for used equipment sales margins.

Answer

The company confirmed some CapEx was pulled forward into Q4 2023. They anticipate utilization being pressured in H1 but showing positive year-over-year improvement in H2. Rental rates are expected to be positive but moderate from recent years. Free cash flow is expected to be positive for 2024. Used equipment sales margins are guided to be 50%+, with Q1 potentially closer to 60%.

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Fintool can predict H&E Equipment Services, Inc. logo HEES's earnings beat/miss a week before the call