Waste Management’s Strong Third Quarter Results Drive Record Earnings

Waste Management, Inc. (NYSE: WM) recently released its financial results for the third quarter of 2024 through a Form 8-K filing. The company announced a press release highlighting its performance for the quarter, detailing strong revenue growth, cost optimization efforts, and record results. Waste Management is set to deliver adjusted operating EBITDA near the upper end of its 2024 guidance following significant achievements in various sectors and operations.

The company’s focus on organic revenue growth and operational efficiency has resulted in robust financial outcomes. Waste Management expects about 6% revenue growth for the full year, exceeding previous guidance. In terms of adjusted operating EBITDA, the company witnessed a $170 million increase, primarily driven by its Collection and Disposal business, achieving a record-high margin of 30.5%.

Continued investments in technology and automation have helped Waste Management optimize its cost structure and improve operational efficiency. Operating expenses as a percentage of revenue have shown consistent improvement, with SG&A expenses reflecting disciplined cost control measures.

During the quarter, Waste Management completed eight recycling projects, enhancing its capacity in North America. Additionally, the company brought renewable natural gas projects online and anticipates further expansions in its sustainable energy initiatives.

Through the first nine months of 2024, Waste Management generated substantial cash flow from operating activities, showing a 16.2% increase over the prior year. The company plans to allocate significant funds towards sustainability growth investments, with total capital expenditures estimated to be approximately $3.15 to $3.25 billion.

Waste Management has also made strategic acquisitions throughout the year, contributing to revenue growth. The company is in the process of finalizing the acquisition of Stericycle, with integration planning proceeding as scheduled. Moreover, Waste Management published its 2024 Sustainability Report, emphasizing its key ambitions and progress toward sustainable practices.

Looking ahead to 2025, Waste Management anticipates continued growth in its core solid waste business, along with enhanced contributions from sustainability initiatives and the successful integration of the Stericycle acquisition. The company’s strategic actions aim to drive significant advancements in revenue, earnings, and free cash flow in the coming year.

Waste Management will be hosting a conference call on October 29, 2024, to discuss its third-quarter results in more detail. Listeners can access the live audio webcast through the company’s investor website, with a replay available following the call.

The Form 8-K filing provides a comprehensive overview of Waste Management’s recent financial performance, demonstrating the company’s robust growth and sustained focus on operational excellence.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Waste Management’s 8K filing here.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.