Waste Management Q3 2023 Earnings Report
Key Takeaways
Waste Management announced strong Q3 2023 results, driven by pricing discipline and cost structure optimization, leading to over 6% growth in adjusted operating EBITDA and 100 basis points of adjusted operating EBITDA margin expansion.
Core price exceeded inflationary cost increases by an estimated 100 basis points.
Total Company volumes increased 0.5% and collection and disposal volumes increased 0.3%.
Operating expenses as a percentage of revenue were 61.3% compared to 62.2% in the third quarter of 2022.
SG&A expenses were 9.0% of revenue compared to 9.3% in the third quarter of 2022.
Waste Management
Waste Management
Forward Guidance
Company expects to deliver on the guidance communicated in July and remains focused on continuing to drive operating leverage in the business to deliver a strong finish to this year and lay the groundwork for further growth in 2024.