• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    WM Announces First Quarter 2025 Earnings

    4/28/25 5:06:00 PM ET
    $WM
    Environmental Services
    Utilities
    Get the next $WM alert in real time by email

    Strong Operational Performance Combined with WM Healthcare Solutions Results Deliver Outsized Growth

    WM Adds Two Recycling Automation Projects in Key Markets During the Quarter

    WM (NYSE:WM) today announced financial results for the quarter ended March 31, 2025.

     

    Three Months Ended

     

    Three Months Ended

     

    March 31, 2025

    (in millions, except per share amounts)

     

    March 31, 2024

    (in millions, except per share amounts)

     

     

    As Reported

    As Adjusted(a)

     

    As Reported

    As Adjusted(a)

     

     

     

     

     

     

    Revenue

    $6,018

    $6,018

     

    $5,159

    $5,159

     

     

     

     

     

     

    Income from Operations

    $1,013

    $1,059

     

    $1,016

    $1,014

     

     

     

     

     

     

    Operating EBITDA(b)

    $1,669

    $1,715

     

    $1,530

    $1,528

     

     

     

     

     

     

    Operating EBITDA Margin

    27.7%

    28.5%

     

    29.7%

    29.6%

     

     

     

     

     

     

    Net Income(c)

    $637

    $673

     

    $708

    $706

     

     

     

     

     

     

    Diluted EPS

    $1.58

    $1.67

     

    $1.75

    $1.75

    "Our first quarter results reflect the strong track record of the WM team as we started the year delivering on each of our strategic priorities," said Jim Fish, WM's President and CEO. "We continue to deliver disciplined revenue growth and cost optimization in our core business, while advancing our sustainability growth investments and driving value from the Stericycle acquisition. This led to first quarter revenue growth of 16.7% and adjusted operating EBITDA growth of 12.2% compared to the prior year period.(a) These solid first quarter results, as well as the strength and resiliency of our business model, give us confidence we are on pace to achieve our 2025 outlook."

    Fish continued, "Our new medical waste and secure information destruction businesses, together referred to as WM Healthcare Solutions, performed well in the first full quarter as part of WM. Integration efforts are advancing and keeping us on track to achieve our full year synergy targets."

    KEY HIGHLIGHTS FOR THE FIRST QUARTER OF 2025

    Operating EBITDA

    First Quarter 2025

    ($ in millions)

    First Quarter 2024

    ($ in millions)

     

    Total Company

    Breakout

    As Adjusted(a)

    Total Company

    Breakout

    As Adjusted(a)

     

    Amount

    Margin

    Amount

    Margin

    Amount

    Margin

    Amount

    Margin

    WM Legacy Business(d)

    $

    1,593

    29.5

    %

    $

    1,620

    30.0

    %

    $

    1,530

    29.7

    %

    $

    1,528

    29.6

    %

    WM Healthcare Solutions

     

    76

    12.3

    %

     

    95

    15.3

    %

     

    -

    -

     

    -

    -

    Total Company

    $

    1,669

    27.7

    %

    $

    1,715

    28.5

    %

    $

    1,530

    29.7

    %

    $

    1,528

    29.6

    %

    • Adjusted operating EBITDA for the WM Legacy Business grew 6.0% and margin achieved 30% for the fourth consecutive quarter.(a) The Company's Collection and Disposal business led the way, driven by organic revenue growth from price, disciplined cost initiatives, and a continued focus on optimizing business mix. The Company's Recycling Processing and Sales and WM Renewable Energy businesses together contributed $18 million to operating EBITDA growth, primarily due to sustainability growth projects.
    • WM Healthcare Solutions contributed $95 million of adjusted operating EBITDA, in line with expectations.(a) The Company is on track to achieve its targeted synergies of $80 to $100 million in 2025.
    ______
     
    Revenue

    First Quarter 2025

    ($ in millions)

     

    First Quarter 2024

    ($ in millions)

     

    Amount

     

    Growth

     

    Amount

     

    Growth

    WM Legacy Business(d)

    $

    5,399

    4.7

    %

    $

    5,159

    5.5

    %

    WM Healthcare Solutions

     

    619

    N/A

     

    -

    -

    Total Company

    $

    6,018

    16.7

    %

    $

    5,159

    5.5

    %

    • Revenue growth of 4.7% in the WM Legacy Business was driven by core price of 6.5% and Collection and Disposal yield of 4.0% as the Company continues its focus on maximizing customer lifetime value.(e)
    • Workday adjusted volumes in the Collection and Disposal business were flat in the quarter with growth in landfill volumes offset by the Company's strategic exit from low-margin residential collection business.
    • Volume was negatively impacted by 30 basis points from winter weather events in the Company's Eastern Tier.
    ______
     
    Operating Expenses

    First Quarter 2025

    ($ in millions)

     

    First Quarter 2024

    ($ in millions)

     

    Total Company

    Breakout

     

    As Adjusted(a)

     

    Total Company

    Breakout

     

    As Adjusted(a)

     

    Amount

     

    Margin

     

    Amount

     

    Margin

     

    Amount

     

    Margin

     

    Amount

     

    Margin

    WM Legacy Business(d)

    $

    3,269

    60.5

    %

    $

    3,262

    60.4

    %

    $

    3,140

    60.9

    %

    $

    3,140

    60.9

    %

    WM Healthcare Solutions

     

    378

    61.1

    %

     

    378

    61.1

    %

     

    -

    -

     

    -

    -

    Total Company

    $

    3,647

    60.6

    %

    $

    3,640

    60.5

    %

    $

    3,140

    60.9

    %

    $

    3,140

    60.9

    %

    • Adjusted operating expenses as a percentage of revenue for the WM Legacy Business improved 50 basis points, reflecting the Company's disciplined cost focus driven by a people-first culture, technology adoption, and strategic exit from low-margin residential business.(a)
    ______
     

    SG&A Expenses

    First Quarter 2025

    ($ in millions)

    First Quarter 2024

    ($ in millions)

     

    Total Company

    Breakout

    As Adjusted(a)

    Total Company

    Breakout

    As Adjusted(a)

     

    Amount

    Margin

    Amount

    Margin

    Amount

    Margin

    Amount

    Margin

    WM Legacy Business(d)

    $

    531

    9.8

    %

    $

    5177

    9.6

    %

    $

    491

    9.5

    %

    $

    491

    9.5

    %

    WM Healthcare Solutions

     

    156

    25.2

    %

     

    146

    23.6

    %

     

    -

    -

     

    -

    -

    Total Company

    $

    687

    11.4

    %

    $

    663

    11.0

    %

    $

    491

    9.5

    %

    $

    491

    9.5

    %

    • SG&A results in the WM Legacy Business demonstrate the Company's continued focus on cost discipline and optimization.
    • Adjusted SG&A as a percentage of revenue for WM Healthcare Solutions improved 70 basis points sequentially, reflecting the contribution of synergies from the Company's efforts to integrate and streamline its sales and back-office processes.(a)
    ______

    Cash Flow and Investments

    • The Company generated $1.21 billion of net cash provided by operating activities, with strong operating EBITDA growth more than offset by working capital timing differences and higher cash interest related primarily to the funding of the Stericycle acquisition. Free cash flow was $475 million, which was in line with the Company's expectations.(a)
    • During the quarter, the Company continued to progress its investments in sustainability growth projects, investing $128 million in these growth platforms and completing two recycling automation projects in key markets.(f)

    Fish concluded, "2025 is off to a strong start, and our team remains focused on driving further improvements in operational efficiency and maximizing growth opportunities from acquisitions and sustainability investments. Our first quarter performance sets us up for another year of robust financial growth."

    (a)

    The information labeled as adjusted in this press release, as well as free cash flow, are non-GAAP measures. Please see "Non-GAAP Financial Measures" below and the reconciliations in the accompanying schedules for more information.

     

     

    (b)

    Management defines operating EBITDA as GAAP income from operations before depreciation, depletion and amortization; this measure may not be comparable to similarly titled measures reported by other companies.

     

     

    (c)

    For purposes of this press release, all references to "Net income" refer to the financial statement line item "Net income attributable to Waste Management, Inc."

     

     

    (d)

    Management defines WM Legacy Business as total Company GAAP results excluding the WM Healthcare Solutions segment and net of intercompany eliminations.

     

     

    (e)

    Core price is a performance metric used by management to evaluate the effectiveness of our pricing strategies; it is not derived from our financial statements and may not be comparable to measures presented by other companies. Core price is based on certain historical assumptions, which may differ from actual results, to allow for comparability between reporting periods and to reveal trends in results over time.

     

     

    (f)

    The Company's blended average price received for single stream recycled commodities sold during the quarter was about $88 per ton compared to about $84 per ton in the prior year period. The average price received for Renewable Fuel Standard credits was $2.59 during the quarter compared to $3.01 in the prior year period. The average price received for natural gas was $3.93 per MMBtu during the quarter compared to $2.27 per MMBtu in the prior year period. The average price received for renewable electricity was about $73 per megawatt hour in the quarter compared to about $62 per megawatt hour in the prior year period.

    The Company will host a conference call at 10 a.m. ET on April 29, 2025, to discuss the first quarter 2025 results. Information contained within this press release will be referenced and should be considered in conjunction with the call.

    Listeners can access a live audio webcast of the conference call by visiting investors.wm.com and selecting "Events & Presentations" from the website menu. A replay of the audio webcast will be available at the same location following the conclusion of the call.

    Conference call participants should register to obtain their dial in and passcode details. This streamlined process improves security and eliminates wait times when joining the call.

    ABOUT WM

    WM (WM.com) is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial, medical and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them pursue their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is a leader in beneficial use of landfill gas, with a growing network of renewable natural gas plants and the most landfill gas-to-electricity plants in North America. WM also has the largest heavy-duty natural gas truck fleet in the industry in North America. WM Healthcare Solutions provides collection and disposal services of regulated medical waste, as well as secure information destruction services, in the U.S., Canada and Western Europe. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.

    FORWARD-LOOKING STATEMENTS

    The Company, from time to time, provides estimates or projections of financial and other data, comments on expectations relating to future periods and makes statements of opinion, view or belief about current and future events, circumstances or performance. This press release contains a number of such forward-looking statements, including all statements regarding future performance and results of our business; achievement of targets, financial guidance or outlook; growth and optimization of our business; integration of the Stericycle business and related contributions, results and benefits, including amount and timing of synergies; amount and timing of sustainability investments, upgrades and project completions and related returns, contributions, and benefits; future capital allocation and acquisition spending; drivers of performance, including pricing programs and volume; and assumptions regarding commodity prices, natural gas production, tax credits and renewable fuel programs. You should view these statements with caution. They are based on the facts and circumstances known to the Company as of the date the statements are made. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, failure to implement our optimization, automation, growth, and cost savings initiatives and overall business strategy; failure to obtain the results anticipated from strategic initiatives, investments, acquisitions, or new lines of business; failure to identify acquisition targets, consummate and integrate acquisitions, including our ability to integrate the acquisition of Stericycle and achieve the anticipated benefits therefrom, including synergies; legal, regulatory and other matters that may affect the costs and timing of our ability to integrate and deliver all of the expected benefits of the Stericycle acquisition; failure to maintain an effective system of internal control over financial reporting; existing or new environmental and other regulations, including developments related to emerging contaminants, gas emissions, renewable energy, extended producer responsibility and our natural gas fleet; significant environmental, safety or other incidents resulting in liabilities or brand damage; failure to obtain and maintain necessary permits due to land scarcity, public opposition or otherwise; diminishing landfill capacity, resulting in increased costs and the need for disposal alternatives; exposure to different regulatory, legal, financial and economic conditions in international jurisdictions; failure to attract, hire and retain key team members and a high quality workforce; increases in labor costs due to union organizing activities or changes in wage- and labor-related regulations; disruption and costs resulting from severe weather and destructive climate events; failure to achieve our sustainability goals or execute on our sustainability-related strategy and initiatives, including within planned timelines or anticipated budgets due to disruptions, delays, cost increases or changes in environmental or tax regulations and incentives; focus on, and regulation of, environmental and sustainability-related disclosures, which could lead to increased costs, risk of non-compliance, brand damage and litigation risk related to our sustainability efforts; macroeconomic conditions, geopolitical conflict and large-scale market disruption resulting in labor, supply chain and transportation constraints, inflationary cost pressures and fluctuations in commodity prices, fuel and other energy costs; increased competition; pricing actions; impacts from international trade restrictions and tariffs; competitive disposal alternatives, diversion of waste from landfills and declining waste volumes; changing conditions in the healthcare industry; weakness in general economic conditions and capital markets; instability of financial institutions; adoption of new tax legislation; fuel shortages; failure to develop and protect new technology; failure of technology to perform as expected; failure to prevent, detect and address cybersecurity incidents or comply with privacy regulations; inability to adapt and manage the benefits and risks of artificial intelligence; negative outcomes of litigation or governmental proceedings, including those acquired through transactions; and operational or management decisions or developments that result in impairment charges. Please also see the Company's filings with the SEC, including Part I, Item 1A of the Company's most recently filed Annual Report on Form 10-K, as updated by subsequent Quarterly Reports on Form 10-Q, for additional information regarding these and other risks and uncertainties applicable to its business. The Company assumes no obligation to update any forward-looking statement, including financial estimates and forecasts, whether as a result of future events, circumstances or developments or otherwise.

    NON-GAAP FINANCIAL MEASURES

    To supplement its financial information, the Company has presented, and/or may discuss on the conference call, adjusted measures including adjusted earnings per diluted share, adjusted net income, adjusted income from operations and margin, adjusted operating EBITDA and margin, adjusted operating expense and margin, and adjusted SG&A expenses and margin. All adjusted measures and free cash flow are non-GAAP financial measures, as defined in Regulation G of the Securities Exchange Act of 1934, as amended. The Company reports its financial results in compliance with GAAP but believes that also discussing non-GAAP measures provides investors with (i) financial measures the Company uses in the management of its business and (ii) additional, meaningful comparisons of current results to prior periods' results by excluding items that the Company does not believe reflect its fundamental business performance and are not representative or indicative of its results of operations.

    The Company discusses free cash flow and provides a projection of free cash flow because the Company believes that it is indicative of its ability to pay its quarterly dividends, repurchase common stock, fund acquisitions and other investments and, in the absence of refinancings, to repay its debt obligations. The Company believes free cash flow gives investors useful insight into how the Company views its liquidity, but the use of free cash flow as a liquidity measure has material limitations because it excludes certain expenditures that are required or that the Company has committed to, such as declared dividend payments and debt service requirements. The Company defines free cash flow as net cash provided by operating activities, less capital expenditures, plus proceeds from divestitures of businesses and other assets (net of cash divested); this definition may not be comparable to similarly-titled measures reported by other companies.

    The quantitative reconciliations of non-GAAP measures to the most comparable GAAP measures are included in the accompanying schedules. Non-GAAP measures should not be considered a substitute for financial measures presented in accordance with GAAP.

     

    WASTE MANAGEMENT, INC.

     

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (In Millions, Except per Share Amounts)

    (Unaudited)

     

     

     

    Three Months Ended

     

     

    March 31,

     

     

    2025

     

    2024

    Operating revenues

     

    $

    6,018

     

     

    $

    5,159

     

    Costs and expenses:

     

     

     

     

     

     

    Operating

     

     

    3,647

     

     

     

    3,140

     

    Selling, general and administrative

     

     

    687

     

     

     

    491

     

    Depreciation, depletion and amortization

     

     

    656

     

     

     

    514

     

    Restructuring

     

     

    13

     

     

     

    —

     

    (Gain) loss from divestitures, asset impairments and unusual items, net

     

     

    2

     

     

     

    (2

    )

     

     

     

    5,005

     

     

     

    4,143

     

    Income from operations

     

     

    1,013

     

     

     

    1,016

     

    Other income (expense):

     

     

     

     

     

     

    Interest expense, net

     

     

    (232

    )

     

     

    (130

    )

    Equity in net income (loss) of unconsolidated entities

     

     

    5

     

     

     

    (19

    )

    Other, net

     

     

    2

     

     

     

    2

     

     

     

     

    (225

    )

     

     

    (147

    )

    Income before income taxes

     

     

    788

     

     

     

    869

     

    Income tax expense

     

     

    151

     

     

     

    162

     

    Consolidated net income

     

     

    637

     

     

     

    707

     

    Less: Net income (loss) attributable to noncontrolling interests

     

     

    —

     

     

     

    (1

    )

    Net income attributable to Waste Management, Inc.

     

    $

    637

     

     

    $

    708

     

    Basic earnings per common share

     

    $

    1.58

     

     

    $

    1.76

     

    Diluted earnings per common share

     

    $

    1.58

     

     

    $

    1.75

     

    Weighted average basic common shares outstanding

     

     

    402.3

     

     

     

    401.7

     

    Weighted average diluted common shares outstanding

     

     

    403.9

     

     

     

    403.5

     

     

    WASTE MANAGEMENT, INC.

     

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (In Millions)

    (Unaudited)

     

     

     

    March 31,

     

    December 31,

     

     

    2025

     

    2024

    ASSETS

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

    216

     

    $

    414

    Receivables, net

     

     

    3,588

     

     

     

    3,687

     

    Other

     

     

    651

     

     

     

    673

     

    Total current assets

     

     

    4,455

     

     

     

    4,774

     

    Property and equipment, net

     

     

    19,553

     

     

     

    19,340

     

    Goodwill

     

     

    13,529

     

     

     

    13,438

     

    Other intangible assets, net

     

     

    4,015

     

     

     

    4,188

     

    Other

     

     

    2,934

     

     

     

    2,827

     

    Total assets

     

    $

    44,486

     

     

    $

    44,567

     

    LIABILITIES AND EQUITY

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

    Accounts payable, accrued liabilities and deferred revenues

     

    $

    4,393

     

     

    $

    4,899

     

    Current portion of long-term debt

     

     

    954

     

     

     

    1,359

     

    Total current liabilities

     

     

    5,347

     

     

     

    6,258

     

    Long-term debt, less current portion

     

     

    22,883

     

     

     

    22,541

     

    Other

     

     

    7,605

     

     

     

    7,514

     

    Total liabilities

     

     

    35,835

     

     

     

    36,313

     

    Equity:

     

     

     

     

     

     

    Waste Management, Inc. stockholders' equity

     

     

    8,650

     

     

     

    8,252

     

    Noncontrolling interests

     

     

    1

     

     

     

    2

     

    Total equity

     

     

    8,651

     

     

     

    8,254

     

    Total liabilities and equity

     

    $

    44,486

     

     

    $

    44,567

     

     

    WASTE MANAGEMENT, INC.

     

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (In Millions)

    (Unaudited)

     

     

     

    Three Months Ended

     

     

    March 31,

     

     

    2025

     

    2024

    Cash flows from operating activities:

     

     

     

     

     

     

    Consolidated net income

     

    $

    637

     

     

    $

    707

     

    Adjustments to reconcile consolidated net income to net cash provided by operating activities:

     

     

     

     

     

     

    Depreciation, depletion and amortization

     

     

    656

     

     

     

    514

     

    Other

     

     

    152

     

     

     

    137

     

    Change in operating assets and liabilities, net of effects of acquisitions and divestitures

     

     

    (237

    )

     

     

    9

     

    Net cash provided by operating activities

     

     

    1,208

     

     

     

    1,367

     

    Cash flows from investing activities:

     

     

     

     

     

     

    Acquisitions of businesses, net of cash acquired

     

     

    (3

    )

     

     

    (11

    )

    Capital expenditures

     

     

    (831

    )

     

     

    (668

    )

    Proceeds from divestitures of businesses and other assets, net of cash divested

     

     

    98

     

     

     

    15

     

    Other, net

     

     

    (93

    )

     

     

    (91

    )

    Net cash used in investing activities

     

     

    (829

    )

     

     

    (755

    )

    Cash flows from financing activities:

     

     

     

     

     

     

    New borrowings

     

     

    4,993

     

     

     

    4,412

     

    Debt repayments

     

     

    (5,163

    )

     

     

    (4,570

    )

    Common stock repurchase program

     

     

    —

     

     

     

    (250

    )

    Cash dividends

     

     

    (336

    )

     

     

    (307

    )

    Exercise of common stock options

     

     

    25

     

     

     

    32

     

    Tax payments associated with equity-based compensation transactions

     

     

    (45

    )

     

     

    (48

    )

    Other, net

     

     

    (10

    )

     

     

    (6

    )

    Net cash used in financing activities

     

     

    (536

    )

     

     

    (737

    )

    Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents

     

     

    1

     

     

     

    (2

    )

    Decrease in cash, cash equivalents and restricted cash and cash equivalents

     

     

    (156

    )

     

     

    (127

    )

    Cash, cash equivalents and restricted cash and cash equivalents at beginning of period

     

     

    487

     

     

     

    552

     

    Cash, cash equivalents and restricted cash and cash equivalents at end of period

     

    $

    331

     

     

    $

    425

     

     

    WASTE MANAGEMENT, INC.

     

    SUMMARY DATA SHEET

    (In Millions)

    (Unaudited)

     

    Operating Revenues by Line of Business

     

     

     

    Three Months Ended

     

     

    March 31,

     

    2025

     

    2024

     

     

    Gross

    Operating

    Revenues

     

    Intercompany

    Operating

    Revenues

     

    Net

    Operating

    Revenues

     

    Gross

    Operating

    Revenues(a)

     

    Intercompany

    Operating

    Revenues(a)

     

    Net

    Operating

    Revenues

    Commercial

     

    $

    1,594

     

    $

    (214

    )

     

    $

    1,380

     

    $

    1,501

     

    $

    (185

    )

     

    $

    1,316

    Industrial

     

     

    940

     

     

     

    (199

    )

     

     

    741

     

     

     

    934

     

     

     

    (187

    )

     

     

    747

     

    Residential

     

     

    894

     

     

     

    (22

    )

     

     

    872

     

     

     

    876

     

     

     

    (22

    )

     

     

    854

     

    Other collection

     

     

    825

     

     

     

    (72

    )

     

     

    753

     

     

     

    751

     

     

     

    (53

    )

     

     

    698

     

    Total collection

     

     

    4,253

     

     

     

    (507

    )

     

     

    3,746

     

     

     

    4,062

     

     

     

    (447

    )

     

     

    3,615

     

    Landfill(a)

     

     

    1,193

     

     

     

    (353

    )

     

     

    840

     

     

     

    1,152

     

     

     

    (360

    )

     

     

    792

     

    Transfer

     

     

    592

     

     

     

    (256

    )

     

     

    336

     

     

     

    560

     

     

     

    (251

    )

     

     

    309

     

    Total Collection and Disposal(a)

     

    $

    6,038

     

     

    $

    (1,116

    )

     

    $

    4,922

     

     

    $

    5,774

     

     

    $

    (1,058

    )

     

    $

    4,716

     

    Recycling Processing and Sales

     

     

    465

     

     

     

    (81

    )

     

     

    384

     

     

     

    436

     

     

     

    (68

    )

     

     

    368

     

    WM Renewable Energy

     

     

    92

     

     

     

    (1

    )

     

     

    91

     

     

     

    70

     

     

     

    (1

    )

     

     

    69

     

    WM Healthcare Solutions

     

     

    627

     

     

     

    (8

    )

     

     

    619

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

    Corporate and Other(a)

     

     

    10

     

     

     

    (8

    )

     

     

    2

     

     

     

    11

     

     

     

    (5

    )

     

     

    6

     

    Total(a)

     

    $

    7,232

     

     

    $

    (1,214

    )

     

    $

    6,018

     

     

    $

    6,291

     

     

    $

    (1,132

    )

     

    $

    5,159

     

    _________________________

    (a)

    Beginning in the fourth quarter of 2024, the Company adjusted gross and intercompany operating revenues to reflect the 15% royalty paid by WM Renewable Energy to Collection and Disposal and Corporate and Other businesses for the purchase of landfill gas. There was no change to net operating revenues. Prior periods were recast to conform to current year presentation.

     

    WASTE MANAGEMENT, INC.

     

    SUMMARY DATA SHEET

    (In Millions)

    (Unaudited)

     

    Internal Revenue Growth

     

     

     

    Period-to-Period Change for the

    Three Months Ended

    March 31, 2025 vs. 2024

     

     

     

    Amount

     

    As a % of

    Related

    Business(a)

     

     

    Amount

     

    As a % of

    Total

    Company(b)

     

    Collection and Disposal

     

    $

    178

     

     

    4.0

     

    %

     

     

     

     

     

     

    Recycling Processing and Sales and WM Renewable Energy(c)

     

     

    1

     

     

    0.1

     

     

     

     

     

     

     

     

    Energy surcharges and mandated fees

     

     

    (2

    )

     

    (0.9

    )

     

     

     

     

     

     

     

    Total average yield(d)

     

     

     

     

     

     

     

    $

    177

     

     

    3.4

     

    %

    Volume(e)

     

     

     

     

     

     

     

     

    4

     

     

    0.1

     

     

    Internal revenue growth

     

     

     

     

     

     

     

     

    181

     

     

    3.5

     

     

    Acquisitions

     

     

     

     

     

     

     

     

    694

     

     

    13.5

     

     

    Divestitures

     

     

     

     

     

     

     

     

    (4

    )

     

    (0.1

    )

     

    Foreign currency translation

     

     

     

     

     

     

     

     

    (12

    )

     

    (0.2

    )

     

    Total

     

     

     

     

     

     

     

    $

    859

     

     

    16.7

     

    %

     

     

     

     

     

     

     

     

     

    Period-to-Period Change for the

    Three Months Ended

    March 31, 2025 vs. 2024

     

     

     

     

     

     

    As a % of Related Business(a)

     

     

     

    Yield

     

     

    Volume(f)

     

    Commercial

     

    5.8

    %

     

    0.1

    %

    Industrial

     

    3.2

     

     

    (1.5)

     

    Residential

     

    5.2

     

     

    (3.4)

     

    Total collection

     

    4.7

     

     

    (1.1)

     

    MSW

     

    4.0

     

     

    3.5

     

    Transfer

     

    5.7

     

     

    (4.1)

     

    Total collection and disposal

     

    4.0

    %

     

    0.0

    %

    _________________________

    (a)

    Calculated by dividing the increase or decrease for the current year period by the prior year period's related business revenue adjusted to exclude the impacts of divestitures for the current year period.

    (b)

    Calculated by dividing the increase or decrease for the current year period by the prior year period's total Company revenue adjusted to exclude the impacts of divestitures for the current period.

    (c)

    Includes combined impact of commodity price variability in both our Recycling Processing and Sales and WM Renewable Energy segments, as well as changes in certain recycling fees charged by our collection and disposal operations.

    (d)

    The amounts reported herein represent the changes in our revenues attributable to average yield for the total Company.

    (e)

    Includes activities from our Corporate and Other businesses.

    (f)

    Workday adjusted volume impact.

     

    WASTE MANAGEMENT, INC.

     

    SUMMARY DATA SHEET

    (In Millions)

    (Unaudited)

     

    Free Cash Flow(a)

     

    Three Months Ended

     

     

     

    March 31,

     

     

     

    2025

     

    2024

     

    Net cash provided by operating activities

     

    $

    1,208

     

     

    $

    1,367

     

     

    Capital expenditures to support the business

     

     

    (703

    )

     

     

    (502

    )

     

    Proceeds from divestitures of businesses and other assets, net of cash divested

     

     

    98

     

     

     

    15

     

     

    Free cash flow before sustainability growth investments

     

     

    603

     

     

     

    880

     

     

    Capital expenditures - sustainability growth investments

     

     

    (128

    )

     

     

    (166

    )

     

    Free cash flow

     

    $

    475

     

     

    $

    714

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended

     

     

     

    March 31,

     

     

     

    2025

     

    2024

     

    Supplemental Data

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Internalization of waste, based on disposal costs

     

     

    70.7

    %

     

    68.3

    %

     

     

     

     

     

     

     

     

    Landfill depletable tons (in millions)

     

     

    29.3

     

     

     

    29.0

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Acquisition Summary(b)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Gross annualized revenue acquired

     

    $

    11

     

     

    $

    1

     

     

     

     

     

     

     

     

     

     

    Total consideration, net of cash acquired

     

     

    7

     

     

     

    3

     

     

     

     

     

     

     

     

     

     

    Cash paid for acquisitions consummated during the period, net of cash acquired

     

     

    7

     

     

     

    2

     

     

     

     

     

     

     

     

     

     

    Cash paid for acquisitions including contingent consideration and other items from prior periods, net of cash acquired

     

     

    13

     

     

     

    18

     

     

     

    Landfill Amortization and Accretion Expenses:

     

     

     

    Three Months Ended

     

     

     

    March 31,

     

     

     

    2025

     

    2024

     

    Landfill depletion expense:

     

     

     

     

     

    Cost basis of landfill assets

     

    $

    150

     

    $

    146

     

    Asset retirement costs

     

     

    33

     

     

     

    30

     

     

    Total landfill depletion expense(c)

     

     

    183

     

     

     

    176

     

     

    Accretion expense

     

    35

     

     

    33

     

     

    Landfill depletion and accretion expense

     

    $

    218

     

     

    $

    209

     

     

    _________________________

    (a)

    The summary of free cash flow has been prepared to highlight and facilitate understanding of the principal cash flow elements. Free cash flow is not a measure of financial performance under generally accepted accounting principles and is not intended to replace the consolidated statement of cash flows that was prepared in accordance with generally accepted accounting principles.

    (b)

    Represents amounts associated with business acquisitions consummated during the applicable period except where noted.

    (c)

    The increase in landfill depletion cost for the three months ended March 31, 2025 as compared to the quarter ended March 31, 2024 was driven by increased volumes, particularly at higher cost sites.

     

    WASTE MANAGEMENT, INC.

     

    RECONCILIATION OF CERTAIN NON-GAAP MEASURES

    (In Millions, Except Per Share Amounts)

    (Unaudited)

     

     

     

    Three Months Ended March 31, 2025

     

     

    Income from

    Operations

     

    Pre-tax

    Income

     

    Tax

    Expense

     

    Net

    Income(a)

     

    Diluted Per

    Share Amount

     

     

     

     

     

     

    As reported amounts

     

    $

    1,013

     

     

    $

    788

     

     

    $

    151

     

    $

    637

     

     

    $

    1.58

    Adjustments:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Stericycle acquisition and integration-related costs(b)

     

     

    33

     

     

     

    33

     

     

     

    7

     

     

     

    26

     

     

     

     

    Loss from asset impairments, unusual items and other, net(c)

     

     

    13

     

     

     

    13

     

     

     

    3

     

     

     

    10

     

     

     

     

     

     

     

    46

     

     

     

    46

     

     

     

    10

     

     

     

    36

     

     

     

    0.09

     

    As adjusted amounts

     

    $

    1,059

     

     

    $

    834

     

     

    $

    161

     

    (d)

    $

    673

     

     

    $

    1.67

     

    Depreciation, depletion and amortization

     

     

    656

     

     

     

     

     

     

     

     

     

     

     

     

     

    As adjusted operating EBITDA

     

    $

    1,715

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted operating EBITDA margin

     

     

    28.5

     

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended March 31, 2024

     

     

    Income from

    Operations

     

    Pre-tax

    Income

     

    Tax

    Expense

     

    Net

    Income(a)

     

    Diluted Per

    Share Amount

     

     

     

     

     

     

    As reported amounts

     

    $

    1,016

     

     

    $

    869

     

     

    $

    162

     

     

    $

    708

     

     

    $

    1.75

     

    Adjustment:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Gain from asset impairments, unusual items and other, net

     

     

    (2

    )

     

     

    (2

    )

     

     

    —

     

     

     

    (2

    )

     

     

    —

     

    As adjusted amounts

     

    $

    1,014

     

     

    $

    867

     

     

    $

    162

     

    (d)

    $

    706

     

     

    $

    1.75

     

    Depreciation, depletion and amortization

     

     

    514

     

     

     

     

     

     

     

     

     

     

     

     

     

    As adjusted operating EBITDA

     

    $

    1,528

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted operating EBITDA margin

     

     

    29.6

     

    %

     

     

     

     

     

     

     

     

     

     

     

    _________________________

    (a)

    For purposes of this press release table, all references to "Net income" refer to the financial statement line item "Net income attributable to Waste Management, Inc."

    (b)

    Includes acquisition and integration related costs, severance and retention, and WM Healthcare Solutions Enterprise Resource Planning (ERP) system costs.

    (c)

    Primarily due to a legacy loss contingency reserve adjustment and other restructuring costs.

    (d)

    The Company calculates its effective tax rate based on actual dollars. When the effective tax rate is calculated by dividing the Tax Expense amount in the table above by the Pre-tax Income amount, differences occur due to rounding, as these items have been rounded in millions. The first quarter 2025 and 2024 adjusted effective tax rates were 19.2% and 18.6%, respectively.

     

    WASTE MANAGEMENT, INC.

     

    RECONCILIATION OF CERTAIN NON-GAAP MEASURES

    (In Millions)

    (Unaudited)

     

     

    Quarter Ended March 31, 2025

     

     

    Collection and Disposal(a)(b)

     

    Recycling Processing and Sales(a)

     

    WM Renewable Energy(b)

     

    Corporate and Other

     

    Total WM Legacy Business

     

    WM Healthcare Solutions

     

    Total WM

     

    Adjusted Operating EBITDA and Adjusted Operating EBITDA Margin

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating revenues, as reported

    $

    4,922

     

    $

    384

     

    $

    91

     

    $

    2

     

     

    $

    5,399

     

    $

    619

     

     

    $

    6,018

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Income from Operations, as reported

    $

    1,328

     

     

    $

    18

     

    $

    19

     

    $

    (327

    )

     

    $

    1,038

     

     

    $

    (25

    )

     

    $

    1,013

     

    Depreciation, depletion and amortization

     

    477

     

     

     

    39

     

     

    15

     

     

    24

     

     

     

    555

     

     

     

    101

     

     

     

    656

     

    Operating EBITDA, as reported

    $

    1,805

     

     

    $

    57

     

    $

    34

     

    $

    (303

    )

     

    $

    1,593

     

     

    $

    76

     

     

    $

    1,669

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjustments:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Stericycle acquisition and integration-related costs(c)

     

    —

     

     

     

    —

     

     

    —

     

     

    14

     

     

     

    14

     

     

     

    19

     

     

     

    33

     

    Loss from asset impairments, unusual items and other, net(d)

     

    2

     

     

     

    4

     

     

    —

     

     

    7

     

     

     

    13

     

     

     

    —

     

     

     

    13

     

     

     

    2

     

     

     

    4

     

     

    —

     

     

    21

     

     

     

    27

     

     

     

    19

     

     

     

    46

     

    Adjusted operating EBITDA

    $

    1,807

     

     

    $

    61

     

    $

    34

     

    $

    (282

    )

     

    $

    1,620

     

     

    $

    95

     

     

    $

    1,715

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating EBITDA margin, as reported

     

    36.7

     

    %

     

    14.8

    %

     

    37.4

    %

     

    N/A

     

     

     

    29.5

     

    %

     

    12.3

     

    %

     

    27.7

    %

    Adjusted operating EBITDA margin

     

    36.7

     

    %

     

    15.9

    %

     

    37.4

    %

     

    N/A

     

     

     

    30.0

     

    %

     

    15.3

     

    %

     

    28.5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Quarter Ended March 31, 2024

     

     

     

     

     

     

     

    Collection and Disposal(a)(b)

     

    Recycling Processing and Sales(a)

     

    WM Renewable Energy(b)

     

    Corporate and Other

     

    Total WM

     

     

     

     

     

    Adjusted Operating EBITDA and Adjusted Operating EBITDA Margin

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating revenues, as reported

    $

    4,716

     

     

    $

    368

     

    $

    69

     

    $

    6

     

     

    $

    5,159

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Income from Operations, as reported

    $

    1,279

     

     

    $

    19

     

    $

    21

     

    $

    (303

    )

     

    $

    1,016

     

     

     

     

     

     

    Depreciation, depletion and amortization

     

    450

     

     

     

    29

     

     

    8

     

     

    27

     

     

     

    514

     

     

     

     

     

     

     

     

    Operating EBITDA, as reported

    $

    1,729

     

     

    $

    48

     

    $

    29

     

    $

    (276

    )

     

    $

    1,530

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjustment:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Gain from asset impairments, unusual items and other, net

     

    (2

    )

     

     

    —

     

     

    —

     

     

    —

     

     

     

    (2

    )

     

     

     

     

     

     

     

    Adjusted operating EBITDA

    $

    1,727

     

     

    $

    48

     

    $

    29

     

    $

    (276

    )

     

    $

    1,528

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating EBITDA margin, as reported

     

    36.7

     

    %

     

    13.0

    %

     

    42.0

    %

     

    N/A

     

     

     

    29.7

     

    %

     

     

     

     

     

    Adjusted operating EBITDA margin

     

    36.6

     

    %

     

    13.0

    %

     

    42.0

    %

     

    N/A

     

     

     

    29.6

     

    %

     

     

     

     

     

    _________________________

    (a)

    Certain fees related to the processing of recycled material we collect are included within our Collection and Disposal businesses. The total amount of such fees in income from operations for the three months ended March 31, 2025 and 2024 is $20 million and $22 million, respectively.

    (b)

    WM Renewable Energy pays a 15% intercompany royalty to our Collection and Disposal businesses for landfill gas. The total amount of royalties in income from operations for the three months ended March 31, 2025 and 2024 is $14 million and $10 million, respectively.

    (c)

    Includes acquisition and integration related costs, severance and retention, and WM Healthcare Solutions Enterprise Resource Planning (ERP) system costs.

    (d)

    Primarily due to a legacy loss contingency reserve adjustment and other restructuring costs.

     

    WASTE MANAGEMENT, INC.

     

    RECONCILIATION OF CERTAIN NON-GAAP MEASURES

    (In Millions, Except Per Share Amounts)

    (Unaudited)

     

     

     

    Three Months Ended

     

    Three Months Ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

     

     

    WM

     

    WM

     

     

     

     

     

     

     

     

     

    Legacy

     

    Healthcare

     

     

     

     

     

     

     

     

     

    Business

     

    Solutions

     

    Total WM

     

    Total WM

     

    Adjusted Operating Expenses and Adjusted Operating Expenses Margin

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating revenues, as reported

     

    $

    5,399

     

     

    $

    619

     

    $

    6,018

     

     

    $

    5,159

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating expenses, as reported

     

    $

    3,269

     

     

    $

    378

     

     

    $

    3,647

     

     

    $

    3,140

     

     

    As a % of revenues

     

     

    60.5

     

    %

     

    61.1

     

    %

     

    60.6

     

    %

     

    60.9

     

    %

    Adjustment:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Legacy loss contingency reserve

     

     

    (7

    )

     

     

    —

     

     

     

    (7

    )

     

     

     

     

    Operating expenses, as adjusted

     

    $

    3,262

     

     

    $

    378

     

     

    $

    3,640

     

     

     

     

     

    As a % of revenues

     

     

    60.4

     

    %

     

    61.1

     

    %

     

    60.5

     

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended

     

    Three Months Ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

     

     

    WM

     

    WM

     

     

     

     

     

     

     

     

    Legacy

     

    Healthcare

     

     

     

     

     

     

     

     

    Business

     

    Solutions

     

    Total WM

     

    Total WM

     

    Adjusted SG&A Expenses and Adjusted SG&A Expenses Margin

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating revenues, as reported

     

    $

    5,399

     

     

    $

    619

     

     

    $

    6,018

     

     

    $

    5,159

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    SG&A expenses, as reported

     

    $

    531

     

     

    $

    156

     

     

    $

    687

     

     

    $

    491

     

     

    As a % of revenues

     

     

    9.8

     

    %

     

    25.2

     

    %

     

    11.4

     

    %

     

    9.5

     

    %

    Adjustment:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Stericycle acquisition and integration-related costs

     

     

    (14

    )

     

     

    (10

    )

     

     

    (24

    )

     

     

     

     

    As adjusted SG&A expenses

     

    $

    517

     

     

    $

    146

     

     

    $

    663

     

     

     

     

     

     

     

     

    9.6

     

    %

     

    23.6

     

    %

     

    11.0

     

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    2025 Projected Free Cash Flow Reconciliation(a)

     

    Scenario 1

     

    Scenario 2

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net cash provided by operating activities

     

    $

    5,750

     

     

    $

    5,900

     

     

     

     

     

     

     

     

    Capital expenditures to support the business

     

     

    (2,575

    )

     

     

    (2,625

    )

     

     

     

     

     

     

     

    Proceeds from divestitures of businesses and other assets, net of cash divested

     

     

    100

     

     

     

    150

     

     

     

     

     

     

     

     

    Free cash flow before sustainability growth investments

     

    $

    3,275

     

     

    $

    3,425

     

     

     

     

     

     

     

     

    Capital expenditures - sustainability growth investments

     

     

    (600

    )

     

     

    (650

    )

     

     

     

     

     

     

     

    Free cash flow

     

    $

    2,675

     

     

    $

    2,775

     

     

     

     

     

     

     

     

    _________________________

    (a)

    The reconciliation includes two scenarios that illustrate our projected free cash flow range for 2025. The amounts used in the reconciliation are subject to many variables, some of which are not under our control and, therefore, are not necessarily indicative of actual results.

     

    WASTE MANAGEMENT, INC.

     

    SUPPLEMENTAL INFORMATION PROVIDED FOR ILLUSTRATIVE PURPOSES ONLY

    (In Millions)

    (Unaudited)

     

    Diversity in the structure of recycling contracts results in different accounting treatment for commodity rebates. In accordance with revenue recognition guidance, our Company records gross recycling revenue and records rebates paid to customers as cost of goods sold. Other contract structures allow for netting of rebates against revenue.

     

    Additionally, there are differences in whether companies adjust for accretion expense in their calculation of EBITDA. Our Company does not adjust for landfill accretion expenses when calculating operating EBITDA, while other companies do adjust it for the calculation of their EBITDA measure.

     

    The table below illustrates the impact that differing contract structures and treatment of accretion expense has on the Company's adjusted operating EBITDA margin results. This information has been provided to enhance comparability and is not intended to replace or adjust GAAP reported results.

     

     

     

    Three Months Ended March 31,

     

     

    2025

     

    2024

     

     

    Amount

     

    Change in

    Adjusted

    Operating EBITDA

    Margin

     

    Amount

     

    Change in

    Adjusted

    Operating EBITDA

    Margin

     

     

     

     

     

     

     

     

     

     

     

    Recycling commodity rebates

     

    $

    238

     

    1.2%

     

    $

    191

     

    1.2%

    Accretion expense

     

    $

    35

     

    0.6%

     

    $

    33

     

    0.6%

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250428950137/en/

    FOR MORE INFORMATION

    WM

    Website

    www.wm.com

    Analysts

    Ed Egl

    713.265.1656

    [email protected]

    Media

    Toni Werner

    [email protected]

    Get the next $WM alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $WM

    DatePrice TargetRatingAnalyst
    5/7/2025Neutral
    Seaport Research Partners
    4/25/2025$265.00Hold → Buy
    HSBC Securities
    1/27/2025$225.00 → $250.00Sector Perform → Sector Outperform
    Scotiabank
    10/4/2024$220.00Sector Perform
    Scotiabank
    10/3/2024Outperform
    William Blair
    5/22/2024$241.00Buy
    Deutsche Bank
    4/8/2024$211.00Sector Perform
    RBC Capital Mkts
    2/15/2024$210.00Buy → Hold
    HSBC Securities
    More analyst ratings

    $WM
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • WM Opens Registration for 2025 Investor Day

      WM (NYSE:WM) announced that it has opened registration for its 2025 investor day taking place on Tuesday, June 24, beginning at 8:30 a.m. EDT, at the New York Stock Exchange in New York City. To register, please visit the company's Investor Day event website at: https://wminvestorday2025.q4ir.com. While in-person attendance is reserved for members of the investment community, a live webcast of the presentations will be open to all. Advanced registration is required for in-person attendance. The event will include presentations delivered by Jim Fish, Chief Executive Officer, John Morris, President and Chief Operating Officer, Devina Rankin, Executive Vice President and Chief Financial Offi

      5/16/25 9:00:00 AM ET
      $WM
      Environmental Services
      Utilities
    • WM Names John Morris President

      WM (NYSE:WM) announced that its Board of Directors has appointed John J. Morris, Jr. to the position of President, reporting to Jim Fish, the company's Chief Executive Officer. Morris also retains his existing role as Chief Operating Officer. Morris will maintain responsibility for all field operations, and the company's Chief Officers leading Sustainability, Customer Experience and Enterprise Strategy will report to him as well. "Our People First strategy is tailored to address the dynamic needs of the changing world and workforce, with a strong emphasis on developing future leaders at WM. This intentional leadership-development focus has given us the confidence to elevate John to the po

      5/14/25 5:00:00 PM ET
      $WM
      Environmental Services
      Utilities
    • WM Announces Cash Dividend

      WM (NYSE:WM) today announced the declaration of a quarterly cash dividend of $0.825 per share payable June 20, 2025, to stockholders of record on June 6, 2025. ABOUT WM WM (WM.com) is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial, medical and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renew

      5/12/25 5:33:00 PM ET
      $WM
      Environmental Services
      Utilities

    $WM
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Seaport Research Partners initiated coverage on Waste Mgmt

      Seaport Research Partners initiated coverage of Waste Mgmt with a rating of Neutral

      5/7/25 8:38:51 AM ET
      $WM
      Environmental Services
      Utilities
    • Waste Mgmt upgraded by HSBC Securities with a new price target

      HSBC Securities upgraded Waste Mgmt from Hold to Buy and set a new price target of $265.00

      4/25/25 8:28:59 AM ET
      $WM
      Environmental Services
      Utilities
    • Waste Mgmt upgraded by Scotiabank with a new price target

      Scotiabank upgraded Waste Mgmt from Sector Perform to Sector Outperform and set a new price target of $250.00 from $225.00 previously

      1/27/25 7:53:56 AM ET
      $WM
      Environmental Services
      Utilities

    $WM
    Leadership Updates

    Live Leadership Updates

    See more
    • Former WM CEO David Steiner Joins AMP's Board of Directors

      AMP Robotics Corp. ("AMP"), a leading provider of artificial intelligence (AI)-powered diversion technologies for the waste and recycling industry, today announced that David Steiner has been elected to serve on its board of directors. Steiner is the former chief executive officer of WM (NYSE:WM), a role he held from 2004 until 2016. Steiner joined WM in 2000 and swiftly ascended the ranks to become general counsel and then chief financial officer before becoming CEO in 2004. As CEO, Steiner is credited with delivering strong financial results and repositioning the $85 billion public company as a leader in the recycling sector. "David brings a wealth of leadership experience and an impr

      1/28/25 1:30:00 PM ET
      $FDX
      $TEL
      $VMC
      $WM
      Air Freight/Delivery Services
      Consumer Discretionary
      Electronic Components
      Technology
    • AMP Appoints Tim Stuart as Chief Executive Officer

      Founder Matanya Horowitz to become chief technology officer AMP Robotics Corp. ("AMP"), a leading provider of artificial intelligence (AI)-powered sortation at scale for the waste and recycling industry, named Tim Stuart, former chief operating officer for Republic Services Inc. (NYSE:RSG), chief executive officer. Stuart replaces AMP Founder Matanya Horowitz, who transitioned into the role of chief technology officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241112474325/en/Tim Stuart, AMP CEO (Photo: Business Wire) "I founded AMP a decade ago with a vision to change how the world manages its waste, and I'm so proud of

      11/12/24 8:00:00 AM ET
      $RSG
      $WM
      Environmental Services
      Utilities
    • Chewy Set to Join S&P MidCap 400

      NEW YORK, Nov. 1, 2024 /PRNewswire/ -- Chewy Inc. (NYSE: CHWY) will replace Stericycle Inc. (NASD: SRCL) in the S&P MidCap 400 effective prior to the opening of trading on Wednesday, November 6. S&P 500 constituent Waste Management Inc. (NYSE:WM) is acquiring Stericycle in a deal expected to be completed soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker GICS Sector November 6, 2024 S&P MidCap 400 Addition Chewy CHWY Consumer Discretionary November 6, 2024 S&P MidCap 400 Deletion Stericycle SRCL Industrial For more information about

      11/1/24 7:11:00 PM ET
      $CHWY
      $SPGI
      $SRCL
      $WM
      Catalog/Specialty Distribution
      Consumer Discretionary
      Finance: Consumer Services
      Finance

    $WM
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • EVP & Chief Operation Officer Morris John J exercised 30,636 shares at a strike of $147.26 and sold $5,551,859 worth of shares (23,795 units at $233.32), increasing direct ownership by 8% to 92,098 units (SEC Form 4)

      4 - WASTE MANAGEMENT INC (0000823768) (Issuer)

      5/5/25 3:36:44 PM ET
      $WM
      Environmental Services
      Utilities
    • Pres, Chief Executive Officer Fish James C Jr covered exercise/tax liability with 15,658 shares and exercised 19,805 shares at a strike of $150.12, increasing direct ownership by 2% to 220,087 units (SEC Form 4)

      4 - WASTE MANAGEMENT INC (0000823768) (Issuer)

      3/10/25 8:55:29 AM ET
      $WM
      Environmental Services
      Utilities
    • EVP & Chief Operation Officer Morris John J sold $4,303,896 worth of shares (19,153 units at $224.71), decreasing direct ownership by 18% to 85,257 units (SEC Form 4)

      4 - WASTE MANAGEMENT INC (0000823768) (Issuer)

      3/10/25 8:55:28 AM ET
      $WM
      Environmental Services
      Utilities

    $WM
    SEC Filings

    See more
    • Waste Management Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - WASTE MANAGEMENT INC (0000823768) (Filer)

      5/14/25 5:14:11 PM ET
      $WM
      Environmental Services
      Utilities
    • Waste Management Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits

      8-K - WASTE MANAGEMENT INC (0000823768) (Filer)

      5/14/25 5:08:52 PM ET
      $WM
      Environmental Services
      Utilities
    • SEC Form S-4 filed by Waste Management Inc.

      S-4 - WASTE MANAGEMENT INC (0000823768) (Filer)

      5/8/25 4:24:32 PM ET
      $WM
      Environmental Services
      Utilities

    $WM
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Waste Management Inc. (Amendment)

      SC 13G/A - WASTE MANAGEMENT INC (0000823768) (Subject)

      2/13/24 5:17:30 PM ET
      $WM
      Environmental Services
      Utilities
    • SEC Form SC 13G/A filed by Waste Management Inc. (Amendment)

      SC 13G/A - WASTE MANAGEMENT INC (0000823768) (Subject)

      2/10/23 4:25:36 PM ET
      $WM
      Environmental Services
      Utilities
    • SEC Form SC 13G/A filed by Waste Management Inc. (Amendment)

      SC 13G/A - WASTE MANAGEMENT INC (0000823768) (Subject)

      2/9/23 11:37:19 AM ET
      $WM
      Environmental Services
      Utilities

    $WM
    Financials

    Live finance-specific insights

    See more
    • WM Announces Cash Dividend

      WM (NYSE:WM) today announced the declaration of a quarterly cash dividend of $0.825 per share payable June 20, 2025, to stockholders of record on June 6, 2025. ABOUT WM WM (WM.com) is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial, medical and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renew

      5/12/25 5:33:00 PM ET
      $WM
      Environmental Services
      Utilities
    • WM Announces First Quarter 2025 Earnings

      Strong Operational Performance Combined with WM Healthcare Solutions Results Deliver Outsized Growth WM Adds Two Recycling Automation Projects in Key Markets During the Quarter WM (NYSE:WM) today announced financial results for the quarter ended March 31, 2025.   Three Months Ended   Three Months Ended   March 31, 2025 (in millions, except per share amounts)   March 31, 2024 (in millions, except per share amounts)     As Reported As Adjusted(a)   As Reported As Adjusted(a)             Revenue $6,018 $6,018   $5,159 $5,159             Income from Operations $1,013 $

      4/28/25 5:06:00 PM ET
      $WM
      Environmental Services
      Utilities
    • WM Sets Date for First Quarter 2025 Earnings Release and Conference Call

      WM (NYSE:WM) announced that it will release first quarter financial results after the close of the market on Monday, April 28, 2025 and host its investor conference call Tuesday, April 29 at 10 a.m. ET. Listeners can access a live audio webcast of the conference call by visiting investors.wm.com and selecting "Events & Presentations" from the website menu. A replay of the audio webcast will be available at the same location following the conclusion of the call. Participants who will be dialing in for the conference call should register to obtain their dial in and passcode details. Participants may pre-register at any time, including up to and after the call start time. The Company partic

      3/26/25 5:12:00 PM ET
      $WM
      Environmental Services
      Utilities