The earnings call highlighted strong operational and financial performance with record-setting EBITDA margin and successful sustainability initiatives. However, challenges persist with higher-than-expected recycling commodity prices and ongoing wage pressures.

Company Guidance

During the WM Q3 2024 earnings call, the company provided guidance emphasizing robust operational performance with a focus on several key metrics. WM reported a double-digit operating EBITDA growth, reaching a new record operating EBITDA margin of 30.5%, a 90 basis point year-over-year expansion. The company expects to deliver about $6.5 billion in operating EBITDA for the full year, aligning with the upper end of their guidance. Furthermore, WM achieved $3.88 billion in cash from operations through the first nine months of 2024, reflecting a 16% increase compared to the previous year. Free cash flow grew by 20%, driven by disciplined pricing and cost optimization efforts. For 2025, WM anticipates continued growth in its solid waste business, increased contributions from sustainability investments, and integration of the Stericycle acquisition, projecting an elevated revenue, earnings, and free cash flow trajectory.

Double-Digit Operating EBITDA Growth

Reported another quarter of double-digit operating EBITDA growth, positioning annual EBITDA at about $6.5 billion, near the upper end of guidance.

Record Operating EBITDA Margin

Set a new record for operating EBITDA margin at 30.5%, a year-over-year expansion of 90 basis points.

Success in Sustainability Investments

Completed 24 of 39 projects in a recycling growth program, adding 1.5 million tons of annual recycling capacity across North America.

Renewable Energy Projects On Track

On track to commission four new renewable natural gas projects in Q4, contributing approximately 6 million MMBtus of annual production in 2025.

Strong Cash Flow Growth

Generated $3.88 billion of cash from operations, a 16% increase compared to the same period in 2023. Free cash flow grew by 20%.

Significant M&A Activity

Closed nearly $800 million of solid waste acquisitions with a strong pipeline of additional deals.

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Waste Management (GB:0LTG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0LTG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 25, 2018	2018 (Q2)	- / 1.01	0.81	24.69% (+0.20)	―	―
Oct 25, 2018	2018 (Q3)	- / 1.15	0.9	27.78% (+0.25)	―	―
Feb 14, 2019	2018 (Q4)	- / 1.13	0.85	32.94% (+0.28)	―	―
Apr 25, 2019	2019 (Q1)	- / 0.94	0.91	3.30% (+0.03)	―	―
Jul 25, 2019	2019 (Q2)	- / 1.11	1.01	9.90% (+0.10)	―	―
Oct 23, 2019	2019 (Q3)	- / 1.19	1.15	3.48% (+0.04)	―	―
Feb 13, 2020	2019 (Q4)	- / 1.19	1.13	5.31% (+0.06)	―	―
May 06, 2020	2020 (Q1)	- / 0.93	0.94	-1.06% (>-0.01)	―	―
Jul 30, 2020	2020 (Q2)	- / 0.88	1.11	-20.72% (-0.23)	―	―
Nov 02, 2020	2020 (Q3)	- / 1.09	1.19	-8.40% (-0.10)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0LTG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 28, 2024	$207.78	$218.86	+5.33%
Jul 24, 2024	$217.26	$199.68	-8.09%
Apr 24, 2024	$207.51	$209.05	+0.74%
Feb 12, 2024	$185.37	$195.53	+5.48%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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