{"id":517984,"date":"2021-07-27T07:15:01","date_gmt":"2021-07-27T11:15:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/wm-announces-second-quarter-earnings\/"},"modified":"2021-07-27T07:15:01","modified_gmt":"2021-07-27T11:15:01","slug":"wm-announces-second-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wm-announces-second-quarter-earnings\/","title":{"rendered":"WM Announces Second Quarter Earnings"},"content":{"rendered":"

<\/p>\n

WM Announces Second Quarter Earnings<\/b><\/p>\n

Revenue Growth Exceeds Expectations Driven by Accelerated Volume Recovery<\/span><\/p>\n

Strong Financial Results Position Company to Further Increase 2021 Financial Guidance<\/span><\/p>\n

HOUSTON–(BUSINESS WIRE<\/a>)–
\nWaste Management, Inc. (NYSE: WM) today announced financial results for the quarter ended June 30, 2021.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\nThree Months Ended\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nThree Months Ended\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

June 30, 2021
\n<\/span>
(in millions, except per share amounts)<\/span><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

June 30, 2020
\n
(in millions, except per share amounts)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\nAs Reported\n<\/p>\n<\/td>\n

\n

\nAs Adjusted(a)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nAs Reported\n<\/p>\n<\/td>\n

\n

\nAs Adjusted(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenue\n<\/p>\n<\/td>\n

\n\n

\n$4,476\n<\/p>\n<\/td>\n

\n

\n$4,476\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$3,561\n<\/p>\n<\/td>\n

\n

\n$3,561\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome from Operations\n<\/p>\n<\/td>\n

\n\n

\n$791\n<\/p>\n<\/td>\n

\n

\n$813\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$527\n<\/p>\n<\/td>\n

\n

\n$612\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating EBITDA(b)<\/sup><\/p>\n<\/td>\n

\n\n

\n$1,291\n<\/p>\n<\/td>\n

\n

\n$1,313\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$941\n<\/p>\n<\/td>\n

\n

\n$1,026\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating EBITDA Margin\n<\/p>\n<\/td>\n

\n\n

\n28.8%\n<\/p>\n<\/td>\n

\n

\n29.3%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n26.4%\n<\/p>\n<\/td>\n

\n

\n28.8%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Income(c)<\/sup><\/p>\n<\/td>\n

\n\n

\n$351\n<\/p>\n<\/td>\n

\n

\n$538\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$307\n<\/p>\n<\/td>\n

\n

\n$372\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted EPS\n<\/p>\n<\/td>\n

\n\n

\n$0.83\n<\/p>\n<\/td>\n

\n

\n$1.27\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$0.72\n<\/p>\n<\/td>\n

\n

\n$0.88\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n\u201cOur business produced tremendous growth in the second quarter as the economy continued to recover from the pandemic, and we made further progress on our integration of the Advanced Disposal operations,\u201d said Jim Fish, WM\u2019s President and Chief Executive Officer. \u201cThe acquisition of Advanced Disposal, the return of volumes from early pandemic levels, and our continued focus on cost control all contributed to financial outcomes that exceeded expectations. In the second quarter, as adjusted operating EBITDA grew 28%, adjusted operating EBITDA margin expanded 50 basis points, and we generated more than $1 billion of cash from operations.(a)<\/sup> We continue to execute on our pricing programs and efficiently manage our costs as volumes return.\u201d\n<\/p>\n

\nFish continued, \u201cAs a result of our strong performance through the first half of 2021 and our confidence in the continued strength of our business model, we are increasing our full-year revenue, adjusted operating EBITDA, and free cash flow guidance.(a)<\/sup> In addition, due to our robust cash generation, we are increasing our expectations for 2021 share repurchases up to our full authorization of $1.35 billion.\u201d\n<\/p>\n

KEY HIGHLIGHTS FOR THE SECOND QUARTER OF 2021<\/b><\/p>\n

Revenue<\/span><\/b><\/p>\n