Waste Management Stock Price, News & Analysis

Waste Management (NYSE: WM) has priced a $950 million public offering of senior notes as part of a previously filed registration statement. The offering includes two tranches: $475 million of 2.00% senior notes due June 1, 2029, and $475 million of 2.95% senior notes due June 1, 2041, guaranteed by subsidiary Waste Management Holdings, Inc. Ratings for the notes are A- (S&P), BBB+ (Fitch), and Baa1 (Moody's). Proceeds will fund a tender offer for existing notes and general corporate purposes, with the offering closing on May 12, 2021.

Waste Management (NYSE: WM) announced an offer to purchase up to $950 million of its senior notes through its subsidiary, WMH. The offer will accept validly tendered notes on a pro-rata basis according to set priority levels. Notably, the offer is not contingent on a minimum principal amount being tendered, yet it caps purchases at the stated maximum. The indicative timetable outlines key dates, including the early tender deadline of May 11, 2021 and expiration on May 25, 2021. Interested holders are advised to review the terms set in the Offer to Purchase.

Waste Management (NYSE: WM) reported a strong financial performance for Q1 2021, with revenue of $4.112 billion, a 10.3% increase year-over-year. Adjusted operating EBITDA grew over 14% to $1.161 billion, achieving an operating EBITDA margin of 28.2%. Net income rose to $450 million, or $1.06 per diluted share. The company increased its 2021 guidance for revenue, adjusted operating EBITDA, and free cash flow, projecting 12.5% to 13% revenue growth. Additionally, annual run-rate synergies from the Advanced Disposal integration were revised to $130 million, exceeding initial expectations.

Waste Management, Inc. (NYSE: WM) is scheduled to release its first quarter 2021 financial results on April 27, 2021, before market opening. An investor conference call will follow at 10 a.m. ET, accessible via live audio webcast on the company's investor relations website or through phone. A replay of the call will be available until May 11, 2021. As the leading provider of waste management services in North America, Waste Management offers a range of services including collection, disposal, and recycling to residential, commercial, and municipal customers.

Waste Management (NYSE: WM) has elected Sean Menke and Maryrose Sylvester to its board of directors, effective immediately. Menke, CEO of Sabre Corporation, brings extensive experience from the technology and airline sectors, while Sylvester, former U.S. Managing Director at ABB Group, has a strong background in innovation and electrification. Chair Thomas Weidemeyer emphasized the value of their leadership skills in enhancing the board's capabilities. Menke will join the Audit Committee, and Sylvester will serve on the Management Development and Compensation Committee, expanding the board to 10 members, with nine independent directors.

Waste Management (NYSE: WM) has been recognized by Ethisphere as one of the 2021 World’s Most Ethical Companies, marking its 12th honor in this category. The company is the only honoree in the Environmental Services sector, alongside 135 other companies globally. Ethisphere emphasizes that honorees show a strong commitment to ethics and integrity, outperforming a large cap index by 7.1 percentage points over five years. Waste Management continues to lead in sustainability, having also been named in Barron’s 100 Most Sustainable Companies and CDP’s Climate Change A List for five consecutive years.

Waste Management, Inc. (NYSE: WM) has declared a quarterly cash dividend of $0.575 per share, payable on March 26, 2021, to stockholders of record on March 12, 2021. The company, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America, including collection, disposal, and recycling. Additionally, Waste Management is known for developing landfill gas-to-energy facilities, serving various customers across the region.

Waste Management reported financial results for Q4 and the year ending December 31, 2020, showing revenue of $4.067 billion, a 5.7% increase from $3.846 billion in Q4 2019. Adjusted operating EBITDA rose 4.1% year-over-year, with an adjusted operating EBITDA margin of 28.1%. For the year, revenue totaled $15.218 billion, down from $15.455 billion in 2019. Notably, free cash flow surged to $2.66 billion, up from $2.11 billion in 2019. The company forecasts revenue growth between 10.75% and 11.25% for 2021, with adjusted operating EBITDA expected between $4.75 billion and $4.9 billion.