Waste Management


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Ed Egl





Tiffiany Moehring







Waste Management Announces Second Quarter Earnings



The Company Raises Full-Year Earnings Per Diluted Share Outlook and Reaffirms Previous Guidance for Other Metrics


HOUSTON – July 25, 2018 Waste Management, Inc. (NYSE: WM) today announced financial results for its quarter ended June 30, 2018. Revenues for the second quarter of 2018 were $3.74 billion, compared with $3.68 billion for the same 2017 period. Net income for the quarter was $499 million, or $1.15 per diluted share, compared with $362 million, or $0.81 per diluted share, for the second quarter of 2017.

(a) On an as-adjusted basis, excluding certain items, net income was $438 million, or $1.01 per diluted share, in the second quarter of 2018.(b)


The Company’s as-adjusted second quarter 2018 results exclude a $0.07 per diluted share tax benefit related to income tax audit settlements and a net $0.07 per diluted share benefit primarily related to the gain on divestiture of an ancillary business.


Jim Fish, President and Chief Executive Officer of Waste Management, commented, “Our traditional solid waste business continued to perform exceptionally well in the second quarter, underpinning our strong financial results. Given the outstanding performance in our traditional solid waste business and a lower than anticipated tax rate, we are increasing our 2018 adjusted earnings per diluted share guidance to a range of $4.05 to $4.10, from $3.97 to $4.05.  We also are reaffirming our adjusted operating EBITDA guidance of $4.20 to $4.25 billion and free cash flow guidance of $1.95 to $2.05 billion.(b)(c)










Revenue Growth








In the second quarter, revenue growth was driven by strong yield and volume growth in the Company’s collection and disposal business, which contributed $135 million of incremental revenue.  This was partially offset by a decline in revenue from the Company’s recycling line of business, which fell by $85 million on a year-over-year basis in the second quarter of 2018.




Core price, which consists of price increases net of rollbacks and fees, excluding the Company’s fuel surcharge, was 5.3%, compared to 4.7% in the second quarter of 2017.(d)




Internal revenue growth from yield for collection and disposal operations was 2.3% for the second quarter of 2018 versus 1.9% in the second quarter of 2017.




Traditional solid waste internal revenue growth from volume was 2.3% in the second quarter of 2018.  Total Company internal revenue growth from volume, which includes our recycling and other ancillary businesses, was 1.8% in the second quarter.



The following information was filed by Waste Management Inc (WM) on Wednesday, July 25, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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