Waste Management Inc (WM) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Company sees strong cash generation in 2013 and expects continued strength in 2014

FOR MORE INFORMATION

Waste Management

Web site

www.wm.com

Analysts

Ed Egl

713.265.1656

eegl@wm.com

Media

Toni Beck

713.394.5093

tbeck3@wm.com

HOUSTON — February 18, 2014

For the full year 2013, the Company reported revenues of $13.98 billion compared with $13.65 billion for 2012. Earnings per diluted share were $0.21 for the full year 2013 compared with $1.76 for the full year 2012. On an as-adjusted basis, excluding certain items, earnings per diluted share were $2.15 for the full-year 2013 versus $2.08 for the full-year 2012.^(b)

“We built strong momentum during the first three quarters of 2013, and that momentum continued into the fourth quarter, with our traditional solid waste business growing both adjusted income from operations margin and adjusted operating EBITDA margins by 150 basis points,”^(b) said David P. Steiner, President and Chief Executive Officer of Waste Management.

“In the fourth quarter, however, we had a year-over-year increase of $0.09 per share from accruals related to incentive compensation and risk management. Absent this, our strong year-over-year earnings momentum would have continued in the quarter. And our momentum continued into 2014, with preliminary January results showing year-over-year income from operations increasing 12% and income from operations margin growing about 110 basis points compared to January 2013.” ^(c)

In the fourth quarter of 2013, as-adjusted results excluded a negative $1.85 per diluted share impact from impairments primarily related to goodwill in the Company’s waste-to-energy business, as well as certain post-collection assets and investments. First, the Company’s 2013 year-end impairment testing resulted in a $483 million impairment charge to its waste-to-energy goodwill, due to the Company’s view that projected long-term energy prices and disposal volumes into the plants will not dramatically improve from current levels. As a result, the projected long-term cash flows from the Company’s waste-to-energy business no longer support the goodwill allocated to that business over 20 years ago, when the waste-to-energy business was acquired.

Second, with respect to the Company’s post-collection assets, at year-end the Company completed an asset rationalization analysis and decided to mothball or shut down several post-collection facilities. The Company determined that the current volumes available to these facilities could be handled at other Company locations. If volumes available to the mothballed facilities increase in the future, the Company could re-activate permitting efforts or operations at these facilities.