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Waste Management Inc (WM) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Waste Management Inc

CIK: 823768 Ticker: WM

EXHIBIT 99.1

For Immediate Release
 

WM Announces Third Quarter Earnings

 

 

 

 

 

 

FOR MORE INFORMATION

 

Waste Management

 

Website

www.wm.com

 

 

Strong Revenue Growth Leads to Double Digit Growth in Income from Operations, Net Cash Provided by Operating Activities, and Diluted EPS

 

 

HOUSTON — October 26, 2021

— Waste Management, Inc. (NYSE: WM) today announced financial results for the quarter ended September 30, 2021. 

 

 

        Analysts
  Three Months Ended   Three Months Ended Ed Egl
  September 30, 2021
(in millions, except per share amounts)
 

September 30, 2020

(in millions, except per share amounts)

713.265.1656
eegl@wm.com
  As Reported As Adjusted(a)   As Reported As Adjusted(a)  
             
Revenue $4,665 $4,665   $3,861 $3,861 Media
Toni Werner
Income from Operations $806 $792   $680 $721 corp_comm@wm.com
             
Operating EBITDA(b) $1,323 $1,309   $1,099 $1,140  
             
Operating EBITDA Margin 28.4% 28.1%   28.5% 29.5%  
             
Net Income(c) $538 $530   $390 $465  
             
Diluted EPS $1.28 $1.26   $0.92 $1.09  

  

“Strong organic growth and continued progress on the integration of the Advanced Disposal business powered our robust revenue growth in the third quarter and led to a more than 14% increase in adjusted operating EBITDA and a more than 15% increase in net cash provided by operating activities,” said Jim Fish, WM’s President and Chief Executive Officer.(a) “Our solid results put us on track to meet our full-year financial targets despite accelerating cost inflation.”

 

Fish continued, “Like many other companies, we are seeing constraints on labor availability. At WM, we continue to demonstrate our commitment to putting our people first and being an employer of choice. During the quarter, we continued to invest in our people through frontline market wage adjustments and training for new team members. We remain focused on improving operational efficiency and executing on our disciplined pricing programs to drive margin growth in the face of these additional labor costs and other inflationary cost pressures.”

 

 

KEY HIGHLIGHTS FOR THE THIRD QUARTER OF 2021  
     
  Revenue  
     
In the third quarter of 2021, revenue increased $260 million in the Company’s collection and disposal business, excluding the impact of acquisitions and divestitures, compared to the third quarter of 2020. The increase was driven by $137 million in volume increases and $123 million of growth from yield.  

 


The following information was filed by Waste Management Inc (WM) on Tuesday, October 26, 2021 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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Inside Waste Management Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Changes In Equity (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Changes In Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed 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 - Tax Impact (Detail)
Acquisition Of Advanced Disposal
Acquisition Of Advanced Disposal (Detail)
Acquisition Of Advanced Disposal (Tables)
Acquisition Of Advanced Disposal - Divestitures (Detail)
Acquisition Of Advanced Disposal - Intangible Allocation (Detail)
Acquisition Of Advanced Disposal - Purchase Allocation (Detail)
Basis Of Presentation
Basis Of Presentation (Detail)
Basis Of Presentation (Policies)
Basis Of Presentation - Revenue Recognition (Details)
Commitments And Contingencies
Commitments And Contingencies - Quarter (Details)
Common Stock Repurchase Program
Common Stock Repurchase Program (Detail)
Debt
Debt (Tables)
Debt - Borrowings And Repayments (Detail)
Debt - Classification And Utilization (Detail)
Debt - Components (Detail)
Divestitures, Asset Impairments And Unusual Items
Divestitures, Asset Impairments And Unusual Items (Detail)
Earnings Per Share
Earnings Per Share (Detail)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Debt (Detail)
Fair Value Measurements - Recurring (Detail)
Income Taxes
Income Taxes - Quarter Information (Detail)
Landfill And Environmental Remediation Liabilities
Landfill And Environmental Remediation Liabilities (Tables)
Landfill And Environmental Remediation Liabilities - Changes (Detail)
Landfill And Environmental Remediation Liabilities - Summary (Detail)
Segment And Related Information
Segment And Related Information (Tables)
Segment And Related Information - Information (Detail)
Segment And Related Information - Revenues Mix (Detail)
Segment And Related Information - Summary (Detail)
Variable Interest Entities
Variable Interest Entities (Detail)
Ticker: WM
CIK: 823768
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-013486
Submitted to the SEC: Tue Oct 26 2021 12:34:26 PM EST
Accepted by the SEC: Tue Oct 26 2021
Period: Thursday, September 30, 2021
Industry: Refuse Systems

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