Waste Management Stock Price, News & Analysis

Waste Management (WM) reported a strong first quarter for 2023, achieving revenues of $4.892 billion, up from $4.661 billion in Q1 2022, driven by 7.0% organic revenue growth in the collection and disposal business. Income from operations rose to $825 million, and diluted EPS increased to $1.30. Operating EBITDA improved to $1.33 billion, with a margin of 27.2%. However, operating expenses as a percentage of revenue increased due to wage hikes and inflationary pressures. Free cash flow declined to $395 million, reflecting higher capital expenditures and increased cash interest. WM was also recognized by Forbes as one of the Best Employers for Diversity in 2023.

WM (NYSE: WM) will release its first-quarter financial results after market close on April 26, 2023, followed by an investor conference call on April 27 at 10 a.m. ET. Listeners can access the live audio webcast at investors.wm.com and a replay will be available afterward. The company, North America's largest waste management provider, focuses on sustainability and environmental solutions, operating a vast disposal network and a significant fleet of natural gas trucks. More details on their investor presentations can be found on their website.

Waste Management, Inc. (NYSE: WM) has priced a public offering of $1.25 billion in senior notes consisting of $750 million due February 15, 2030, and $500 million due February 15, 2033, both with a 4.625% interest rate. The offering is guaranteed by Waste Management Holdings, Inc. The company plans to close the offering on February 15, 2023, using the proceeds to repay commercial paper borrowings, settle maturing senior notes, and for general corporate purposes. The notes are rated A- by S&P, BBB+ by Fitch, and Baa1 by Moody’s.

Waste Management (NYSE: WM) has elected Bruce Chinn, the CEO of Chevron Phillips Chemical, to its board of directors effective February 10, 2023. Chinn brings over 40 years of leadership experience, emphasizing operational excellence and a dedication to safety. His appointment enriches the board, which now has 10 members, 9 of whom are independent. Chairman Tom Weidemeyer and CEO Jim Fish expressed confidence in Chinn’s ability to advance WM's circular solutions and renewable energy focus. His role will include participation in the Audit Committee, aiming to enhance operational efficiencies and safety culture.

WM (NYSE: WM) has declared a quarterly cash dividend of $0.70 per share, scheduled for payment on March 24, 2023, to stockholders on record as of March 10, 2023. The company, headquartered in Houston, Texas, is North America's largest waste management provider, offering comprehensive environmental solutions including collection, recycling, and disposal services. WM is committed to sustainability and innovation, operating the largest disposal network and collection fleet in North America.

Waste Management, Inc. (WM) reported robust financial performance for the year ended December 31, 2022, showcasing double-digit growth in income from operations, net income, and diluted EPS. Revenue increased to $19.7 billion, up from $17.9 billion in 2021. Adjusted operating EBITDA reached $5.5 billion, representing 28% of revenue. The company's collection and disposal business notably exceeded expectations, contributing to a 9.5% growth in adjusted operating EBITDA for the year. Looking forward, WM anticipates a revenue growth of 4% to 5.5% for 2023 with a core price increase of 6.5% to 7%. Additionally, a dividend increase of $0.20 per share is planned, marking the 20th consecutive year of dividend growth.