Exhibit 99.1

FOR IMMEDIATE RELEASE

 

 

 

Waste Management Announces Fourth Quarter and Full-Year 2018 Earnings

 

 

 

 

 

The Company Generates Its Best Ever Full-Year Income and Cash Flow from Operations

 

FOR MORE INFORMATION

 

 

Waste Management

 

 

 

HOUSTON — February 14, 2019

Waste Management, Inc. (NYSE: WM) today announced financial results for its quarter ended December 31, 2018.  Revenues for the fourth quarter of 2018 were $3.84 billion, compared with $3.65 billion for the same 2017 period.  Net income for the quarter was $531 million, or $1.24 per diluted share, compared with net income of $903 million, or $2.06 per diluted share, for the fourth quarter of 2017.(a)  On an adjusted basis, earnings per diluted share were $1.13 for the fourth quarter of 2018, compared with $0.85 for the fourth quarter of 2017.(b)

 

For the full year 2018, the Company reported revenues of $14.91 billion, compared with $14.49 billion for 2017.  Earnings per diluted share were $4.45 for the full year 2018 compared with $4.41 for the full year 2017.  On an adjusted basis, earnings per diluted share were $4.20 for the full year 2018 versus $3.22 for the full year 2017.(b)

 

Jim Fish, President and Chief Executive Officer of Waste Management, commented, “2018 was a record-setting year for Waste Management, driven by our traditional solid waste performance.  We grew operating EBITDA by more than 5%, which led to an increase in net cash provided by operations of more than 12% to $3.57 billion.(c)  This growth translated into free cash flow of over $2 billion and the most cash returned to our shareholders in over a decade.(b)  Our strong 2018 results validate that our focus on outstanding customer experience and cost management drives solid growth in our business.”

 

 

Web site

www.wm.com

 

Analysts

Ed Egl

713.265.1656

eegl@wm.com

 

 

Media

Tiffiany Moehring

720.346.5372

tmoehrin@wm.com

 

 

 

 

 

 

 

 

KEY HIGHLIGHTS FOR THE FOURTH QUARTER AND THE FULL YEAR 2018

 

 

 

 

 

 

 

Profitability

 

 

 

 

 

 

·

Operating EBITDA was $1.14 billion for the fourth quarter of 2018 and $4.27 billion for the full year.  Adjusted operating EBITDA was $1.09 billion for the fourth quarter of 2018 and $4.22 billion for the full year. On a year-over-year basis, adjusted operating EBITDA grew $73 million, or 7.2%, in the fourth quarter and $210 million, or 5.2%, for the year.  Adjusted operating EBITDA margin improved 50 basis points in the fourth quarter and 60 basis points for the full year.(b)

 

 

 

 

 

 

 

Revenue Growth

 

 

 

 

 

 

·

In the fourth quarter, revenue growth was driven by strong yield and volume growth in the Company’s collection and disposal business, which contributed $203 million of incremental revenue on a year-over-year basis.  Revenue from the Company’s recycling business increased $18 million in the fourth quarter of 2018.  For the full year, yield and volume growth in the Company’s collection and disposal business contributed $693 million of incremental revenue.  This was partially offset by a decline in revenue from the Company’s recycling business, which fell by $197 million year-over-year, due to lower market prices for commodities net of contamination fees.

 

 

 


The following information was filed by Waste Management Inc (WM) on Thursday, February 14, 2019 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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