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Waste Management Inc (WM) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Waste Management Inc

CIK: 823768 Ticker: WM

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

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Changes In Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Loss - Changes (Detail)
Accumulated Other Comprehensive Loss - Reclassification (Detail)
Accumulated Other Comprehensive Loss - Tax Impact (Detail)
Acquisitions And Divestitures
Acquisitions And Divestitures (Detail)
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Divestitures (Detail)
Acquisitions And Divestitures - Intangibles (Detail)
Asset Impairments And Unusual Items
Asset Impairments And Unusual Items (Tables)
Asset Impairments And Unusual Items - Components (Detail)
Asset Impairments And Unusual Items - Details (Details)
Business
Business (Detail)
Capital Stock, Dividends And Common Stock Repurchase Program
Capital Stock, Dividends And Common Stock Repurchase Program (Detail)
Capital Stock, Dividends And Common Stock Repurchase Program (Tables)
Capital Stock, Dividends And Common Stock Repurchase Program - Repurchase Program (Detail)
Commitments And Contingencies
Commitments And Contingencies (Detail)
Commitments And Contingencies (Tables)
Commitments And Contingencies - Obligations (Detail)
Commitments And Contingencies - Other (Details)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (Tables)
Condensed Consolidating Financial Statements - Balance Sheets (Detail)
Condensed Consolidating Financial Statements - Cash Flows (Detail)
Condensed Consolidating Financial Statements - Statements Of Comprehensive Income (Detail)
Condensed Consolidating Financial Statements - Statements Of Operations (Detail)
Debt
Debt (Tables)
Debt - Borrowings And Repayments (Detail)
Debt - Classification And Utilization (Detail)
Debt - Components Of Debt (Detail)
Debt - Covenants (Detail)
Earnings Per Share
Earnings Per Share (Detail)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information (Detail)
Employee Benefit Plans - Individually Significant (Detail)
Employee Benefit Plans - Individually Significant Information (Detail)
Equity-Based Compensation
Equity-Based Compensation (Detail)
Equity-Based Compensation (Tables)
Equity-Based Compensation - Assumptions (Detail)
Equity-Based Compensation - Exercise Price (Detail)
Equity-Based Compensation - Psus (Detail)
Equity-Based Compensation - Rsus (Detail)
Equity-Based Compensation - Stock Options (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Debt (Detail)
Fair Value Measurements - Recurring (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Detail)
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Summary (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Carryforward (Detail)
Income Taxes - Deferred Tax Assets (Liabilities) (Detail)
Income Taxes - Income Source (Detail)
Income Taxes - Provision For Income Taxes (Detail)
Income Taxes - Reconciliation (Detail)
Income Taxes - Unrecognized Tax Benefits (Detail)
Landfill And Environmental Remediation Liabilities
Landfill And Environmental Remediation Liabilities (Tables)
Landfill And Environmental Remediation Liabilities - Changes (Detail)
Landfill And Environmental Remediation Liabilities - Est Payments (Detail)
Landfill And Environmental Remediation Liabilities - Summary (Detail)
New Accounting Standards And Reclassifications
New Accounting Standards And Reclassifications (Detail)
New Accounting Standards And Reclassifications - Revenue (Detail)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Expense (Detail)
Property And Equipment - Property And Equipment (Detail)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data (Unaudited) - Information (Detail)
Quarterly Financial Data (Unaudited) - Summary (Detail)
Segment And Related Information
Segment And Related Information (Tables)
Segment And Related Information - Geographical (Detail)
Segment And Related Information - Information (Detail)
Segment And Related Information - Revenues Mix (Detail)
Segment And Related Information - Summary (Detail)
Segment And Related Information - Summary Information (Detail)
Subsequent Event
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Capitalized Interest (Details)
Summary Of Significant Accounting Policies - Intangibles (Detail)
Summary Of Significant Accounting Policies - Investments (Detail)
Summary Of Significant Accounting Policies - Landfill (Detail)
Summary Of Significant Accounting Policies - Property And Equipment (Detail)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Summary Of Significant Accounting Policies - Supplemental Cash Flow (Detail)
Variable Interest Entities
Variable Interest Entities (Detail)
Ticker: WM
CIK: 823768
Form Type: 10-K Annual Report
Accession Number: 0001558370-19-000662
Submitted to the SEC: Thu Feb 14 2019 6:54:21 AM EST
Accepted by the SEC: Thu Feb 14 2019
Period: Monday, December 31, 2018
Industry: Refuse Systems

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