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Waste Management Inc (WM) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Waste Management Inc

CIK: 823768 Ticker: WM
FOR IMMEDIATE RELEASE    EXHIBIT 99.1

 

Waste Management Announces Fourth

Quarter and Full Year 2016 Earnings

 

  

Full year Net Cash Provided by Operations grew more than 18%

The Company expects continued strong earnings and operational performance in 2017

 

  

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 16, 2017

— Waste Management, Inc. (NYSE: WM) today announced financial results for its quarter ended December 31, 2016. Revenues for the fourth quarter of 2016 were $3.46 billion, compared with $3.25 billion for the same 2015 period. Net income for the quarter was $335 million, or $0.75 per diluted share, compared with net income of $273 million, or $0.61 per diluted share, for the fourth quarter of 2015.(a) On an as-adjusted basis, net income was $320 million, or $0.71 per diluted share, in the fourth quarter of 2015.(b)

 

Income from operations in the fourth quarter of 2016 was $617 million compared to $502 million, or $575 million on an as-adjusted basis, for the same 2015 period. Operating EBITDA was $930 million in the fourth quarter of 2016 compared to $803 million, or $876 million on an as-adjusted basis, in the fourth quarter of 2015.(b)

 

For the full year 2016, the Company reported revenues of $13.6 billion, compared with $13.0 billion for 2015. Earnings per diluted share were $2.65 for the full year 2016 compared with $1.65 for the full year 2015. On an as-adjusted basis, earnings per diluted share were $2.91 for the full year 2016 versus $2.61 for the full year 2015.(b)

 

For the full year 2016, income from operations was $2.30 billion, or $2.41 billion on an as-adjusted basis, compared to $2.05 billion, or $2.19 billion on an as-adjusted basis, for 2015. For the full year of 2016, operating EBITDA was $3.60 billion, or $3.71 billion on an as-adjusted basis, compared to $3.29 billion in 2015, or $3.43 billion on an as-adjusted basis.(b)

 

Jim Fish, President and Chief Executive Officer of Waste Management, commented, “In 2016 we continued our focus on core price, disciplined volume growth, and cost control.(c) Our results in each of these areas exceeded our expectations, which led to operating EBITDA growth of 8.1% on an as-adjusted basis.(b)

 

“The fourth quarter saw internal revenue growth from each of yield and total Company volume achieve 2.0% or greater. This is the first time we have achieved this result in over a decade. This revenue growth drove significant increases in net cash provided by operating activities and free cash flow.(b) We will maintain our focus on driving core price, growing high margin volumes, and controlling costs, positioning us for strong earnings and cash generation in 2017.”

 

KEY HIGHLIGHTS FOR THE FOURTH QUARTER AND THE FULL YEAR 2016

 

•     In the fourth quarter, overall revenue increased by 6.6%, or $214 million, from the same period in the prior year. The revenue increase was driven by positive yield and volume in the Company’s collection and disposal business of $118 million. Acquisitions, net of divestitures, contributed $45 million of revenue growth to the fourth quarter. Recycling yield and volume also increased $51 million. For the full

  


The following information was filed by Waste Management Inc (WM) on Thursday, February 16, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Waste Management Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Valuation And Qualifying Accounts (detail)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (tables)
Accumulated Other Comprehensive Income (loss) - Components Of Accumulated Other Comprehensive Income (loss) (detail)
Accumulated Other Comprehensive Income (loss) - Components Of Accumulated Other Comprehensive Income (loss) (parenthetical) (detail)
Accumulated Other Comprehensive Income (loss) - Other Comprehensive Income (loss) Before Reclassifications Associated With The Effective Portion Of Derivatives Designated As Cash Flow Hedges (detail)
Accumulated Other Comprehensive Income (loss) - Reclassification Of Component Of Accumulated Other Comprehensive Income (loss) Associated With Cash Flow Hedges (detail)
Acquisitions And Divestitures
Acquisitions And Divestitures (tables)
Acquisitions And Divestitures - Additional Information (detail)
Acquisitions And Divestitures - Pro Forma Consolidated Results Of Operations (detail)
Acquisitions And Divestitures - Schedule Of Final Allocations Of Purchase Price (detail)
Adoption Of New Accounting Standards And Reclassifications
Adoption Of New Accounting Standards And Reclassifications (policies)
Adoption Of New Accounting Standards And Reclassifications - Additional Information (detail)
Asset Impairments And Unusual Items
Asset Impairments And Unusual Items (tables)
Asset Impairments And Unusual Items - Additional Information (detail)
Asset Impairments And Unusual Items - Components Of (income) Expense From Divestitures, Asset Impairments And Unusual Items (detail)
Business
Business - Additional Information (detail)
Capital Stock, Dividends And Common Stock Repurchase Program
Capital Stock, Dividends And Common Stock Repurchase Program (tables)
Capital Stock, Dividends And Common Stock Repurchase Program - Additional Information (detail)
Capital Stock, Dividends And Common Stock Repurchase Program - Share Repurchases Under Common Stock Repurchase Programs (detail)
Capital Stock, Dividends And Common Stock Repurchase Program - Share Repurchases Under Common Stock Repurchase Programs (parenthetical) (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Changes To Net Insurance Liabilities (detail)
Commitments And Contingencies - Changes To Net Insurance Liabilities (parenthetical) (detail)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (tables)
Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheets (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheets (parenthetical) (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Statements Of Cash Flows (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Statements Of Comprehensive Income (detail)
Condensed Consolidating Financial Statements - Condensed Consolidating Statements Of Operations (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Components Of Debt (detail)
Debt - Components Of Debt (parenthetical) (detail)
Debt - Summary Of Requirements Of Financial Covenants Contained In Revolving Credit Facilities (detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities - Additional Information (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Common Share Data Used For Computing Basic And Diluted Earnings Per Share (detail)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - Additional Information (detail)
Employee Benefit Plans - Individually Significant Multiemployer Pension Plans (detail)
Employee Benefit Plans - Individually Significant Multiemployer Pension Plans (parenthetical) (detail)
Employee Benefit Plans - Multiemployer Pension Plans And Year With Employer's Total Contribution Greater Than 5% (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (detail)
Fair Value Measurements - Fair Value Of Assets And Liabilities Measured On Recurring Basis (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Goodwill And Other Intangible Assets - Schedule Of Other Intangible Assets (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Net Deferred Tax Assets (liabilities) (detail)
Income Taxes - Income Before Income Taxes Showing Domestic And Foreign Source (detail)
Income Taxes - Provision For Income Taxes (detail)
Income Taxes - Reconciliation Of Beginning And Ending Amount Of Gross Unrecognized Tax Benefits, Including Accrued Interest (detail)
Income Taxes - U.s. Federal Statutory Income Tax Rate Reconciled To Effective Rate (detail)
Landfill And Environmental Remediation Liabilities
Landfill And Environmental Remediation Liabilities (tables)
Landfill And Environmental Remediation Liabilities - Additional Information (detail)
Landfill And Environmental Remediation Liabilities - Changes To Landfill And Environmental Remediation Liabilities (detail)
Landfill And Environmental Remediation Liabilities - Changes To Landfill And Environmental Remediation Liabilities (parenthetical) (detail)
Landfill And Environmental Remediation Liabilities - Liabilities For Landfill And Environmental Remediation Costs (detail)
New Accounting Standards Pending Adoption (unaudited)
New Accounting Standards Pending Adoption - Additional Information (detail)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Depreciation And Amortization Expense Including Amortization Expense For Assets Recorded As Capital Leases (detail)
Property And Equipment - Property And Equipment (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) - Additional Information (detail)
Quarterly Financial Data (unaudited) - Schedule Of Unaudited Quarterly Financial Data (detail)
Restructuring Costs
Restructuring Costs (tables)
Restructuring Costs - Additional Information (detail)
Restructuring Costs - Restructuring Charges Pre Tax By Segment (detail)
Segment And Related Information
Segment And Related Information (tables)
Segment And Related Information - Additional Information (detail)
Segment And Related Information - Reportable Segments (detail)
Segment And Related Information - Reportable Segments (parenthetical) (detail)
Segment And Related Information - Summary Of Net Operating Revenues By Segment (detail)
Segment And Related Information - Summary Of Property And Equipment Net Of Accumulated Depreciation And Amortization Relating To Operations By Segment (detail)
Segment And Related Information - Total Revenues By Principal Line Of Business (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Summary Of Exercisable Stock Options (detail)
Stock-based Compensation - Summary Of Psus (detail)
Stock-based Compensation - Summary Of Rsus (detail)
Stock-based Compensation - Summary Of Stock Options (detail)
Stock-based Compensation - Summary Of Stock Options (parenthetical) (detail)
Stock-based Compensation - Weighted Average Assumptions Used To Value Employee Stock Options Granted (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Schedule Of Estimated Useful Lives For Significant Property And Equipment Categories (detail)
Summary Of Significant Accounting Policies - Schedule Of Supplemental Cash Flow Information (detail)
Summary Of Significant Accounting Policies - Summary Of Equity And Cost Method Investments (detail)
Summary Of Significant Accounting Policies - Summary Of Impacts Of Revisions To The Risk-free Discount Rate Applied To Environmental Remediation Liabilities And Recovery Assets (detail)
Valuation And Qualifying Accounts
Variable Interest Entities
Variable Interest Entities - Additional Information (detail)
Ticker: WM
CIK: 823768
Form Type: 10-K Annual Report
Accession Number: 0001193125-17-046480
Submitted to the SEC: Thu Feb 16 2017 2:12:46 PM EST
Accepted by the SEC: Thu Feb 16 2017
Period: Saturday, December 31, 2016
Industry: Refuse Systems

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