eXHIBIT 99.1       

 

For Immediate Release

 

 

Waste Management Announces

Third Quarter Earnings

 

 

 

 

 

FOR MORE INFORMATION

 

 

Waste Management

 

 

Web site

www.wm.com

 

 

Continued Strong Operating Performance Generates More Than $1 Billion of Net
Cash Provided by Operating Activities and Strong Operating EBITDA Margin

 

 

Houston — Nov. 2, 2020

— Waste Management, Inc. (NYSE: WM) today announced financial results for the quarter ended September 30, 2020.

 

  Three Months Ended   Three Months Ended Analysts
 

September 30, 2020

(in millions, except per share amounts)

 

September 30, 2019

(in millions, except per share amounts)

Ed Eql
713.265.1656
            eegl@wm.com
  As Reported As Adjusted(a)   As Reported As Adjusted(a)  
            Media
Revenue $3,861 $3,861   $3,967 $3,967 Janette Micell
            602.579.6152
Income from Operations $680 $721   $734 $737 jmicelli@wm.com
             
Operating EBITDA(b) $1,099 $1,140   $1,138 $1,141  
             
Net Income(c) $390 $465   $495 $502  
             
Diluted EPS $0.92 $1.09   $1.16 $1.19  

 

“We’ve consistently pointed to operating EBITDA as the best measure of the health of our business, and despite the challenging backdrop, we delivered third quarter adjusted operating EBITDA results in line with last year’s record performance and expanded adjusted operating EBITDA margin by 70 basis points,” said Jim Fish, Waste Management’s President and Chief Executive Officer.(a) “This is a testament both to our team’s ability to optimize our business in the new environment as well as the progress of economic recovery in North America.  

“In addition to our strong quarterly results, we are also proud to have published our 2020 Sustainability Report last month. Titled ‘Building Value Together,’ the report describes how we are addressing challenges and opportunities related to the environment, social issues and governance, and doing so in close partnership with our customers, suppliers and communities. Amidst the crises of 2020, we remained steadfast to our commitments of putting people first, advocating for inclusion and diversity, protecting the environment, and contributing to a circular economy.”

Given the strength of the Company’s third quarter, which demonstrated the resilience of the business model and strong execution on reducing the cost to serve, the Company expects to exceed its 2020 adjusted operating EBITDA margin guidance of 28.0% to 28.5% and generate free cash flow in excess of $2 billion.(a)(d)
 

 


The following information was filed by Waste Management Inc (WM) on Monday, November 2, 2020 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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