Waste Management Stock Price, News & Analysis

WM announced a 7.7% increase in its annual dividend per share, raising it from $2.60 to $2.80. This marks the twentieth consecutive year of dividend growth. The quarterly dividend is set to increase from $0.65 to $0.70 per share. Additionally, the Board has authorized a $1.5 billion stock buyback program, replacing the previous authorization fully utilized in 2022. The CEO highlighted strong cash generation and commitment to returning value to shareholders.

WM and Dow have launched a new collaboration to enhance residential recycling for hard-to-recycle plastic films in select U.S. markets. Only 1.9% of U.S. households currently recycle plastic films at curbside. This initiative aims to divert over 120,000 metric tons of plastic film from landfills annually. The program starts in Hickory Hills, Illinois, with plans to expand to more cities. WM will invest over $800 million by 2025 to improve recycling infrastructure, with expectations to reach 8% of U.S. households using film recycling by then.

WM (NYSE: WM) has declared a quarterly cash dividend of $0.65 per share, with a payment date of Dec. 16, 2022. Shareholders of record as of Dec. 2, 2022 will receive this dividend. WM is recognized as North America's largest comprehensive waste management environmental solutions provider, offering collection, recycling, and disposal services across the U.S. and Canada. The company focuses on sustainability and has the largest disposal network, recycling operations, and natural gas truck fleet in North America.

WM reported strong financial results for Q3 2022, with revenue reaching $5.075 billion, up from $4.665 billion in Q3 2021. Income from operations increased to $942 million. Adjusted diluted EPS rose to $1.56, reflecting an 11% increase in adjusted operating EBITDA driven by organic revenue growth and cost management. However, the recycling business faced a 32% decline in commodity prices, impacting overall profitability. Free cash flow decreased to $432 million due to increased sustainability investments and capital expenditures. The company aims to enhance its sustainability investments in the coming years.

WM (NYSE: WM) will release its third quarter 2022 financial results on Wednesday, Oct. 26, 2022, before market opening. An investor conference call is scheduled for 10 a.m. ET the same day. Participants can access the live audio webcast at investors.wm.com. WM is North America's largest waste management provider, offering comprehensive services and pioneering sustainability initiatives through its extensive fleet, including almost 11,000 natural gas trucks. For further details on investor presentations, visit investors.wm.com.

WM has announced the acquisition of a controlling interest in Avangard Innovative's U.S. business, establishing Natura PCR. This new venture aims to produce 400 million pounds of post-consumer resin (PCR) annually within five years. The initiative focuses on recycling flexible plastics, responding to increasing demand for sustainable packaging. The transaction is expected to close in late 2022, pending regulatory approvals. WM and Dow are collaborating on this project, emphasizing their commitment to enhance recycling rates and provide circular solutions for plastic waste.

WM has announced its acquisition of a controlling interest in Avangard Innovative's U.S. business, forming Natura PCR, designed to enhance plastic film and wrap recycling. Expected to produce 400 million pounds of post-consumer resin annually within five years, this venture aims to meet rising demand for recycled materials in packaging. WM's expertise in material sourcing will support Natura PCR's growth, addressing a significant recycling gap as only 5% of film plastics are currently recycled. The transaction is set to close by late 2022, pending regulatory approvals.

WM (NYSE: WM) has declared a quarterly cash dividend of $0.65 per share, payable on September 23, 2022, to stockholders of record as of September 9, 2022. As North America's largest waste management provider, WM continues to demonstrate its commitment to stakeholder returns through consistent dividend payments. The company's extensive operations include recycling, collection, and renewable energy initiatives, enhancing its sustainability goals.

WM (NYSE: WM) reported strong Q2 2022 results with revenues of $5,027 million, a 12.3% increase from $4,476 million in Q2 2021. Adjusted operating EBITDA rose by 8% to $1,415 million, with an operating EBITDA margin of 28.1%. Net income surged to $599 million, or $1.44 per diluted share. The company raised its 2022 guidance, aiming for a 10% revenue growth and projected adjusted operating EBITDA between $5.5 and $5.6 billion. Key growth investments include a new renewable natural gas plant and significant upgrades in recycling technology.