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Dec 31, 2024
Waste Management Q4 2024 Earnings Report
Waste Management reported strong Q4 2024 earnings driven by solid waste business growth and strategic initiatives.
Key Takeaways
Waste Management announced strong fourth-quarter and full-year 2024 results, driven by improvements in the core business, expansion of sustainability platforms, and the acquisition of Stericycle. The company anticipates continued growth in 2025, focusing on operational performance, strategic investments, and shareholder value.
Delivered over 11% growth in adjusted operating EBITDA for the year.
Advanced cost optimization efforts across operations and executed disciplined pricing programs.
Expanded solid waste business through tuck-in acquisitions and acquired Stericycle.
Expects to deliver a second consecutive year of double-digit growth in adjusted operating EBITDA in 2025.
Forward Guidance
WM's 2025 outlook includes a significant step change in revenue and earnings driven by continued growth in the solid waste business, the addition of WM Healthcare Solutions, and increased contributions from sustainability growth investments.
Positive Outlook
- Continued growth in the solid waste business
- Addition of WM Healthcare Solutions
- Increased contributions from sustainability growth investments
- Investment in solid waste acquisitions
- Board of Directors has indicated its intention to increase the annual dividend by $0.30 per share to $3.30 in 2025
Challenges Ahead
- Temporarily suspended share repurchases reflecting the Company’s commitment to return to targeted leverage levels.
- Leverage to be approximately 3.1 times by the end of 2025.
- Failure to implement optimization, automation, growth, and cost savings initiatives and overall business strategy
Historical Earnings Impact
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Avg. Return Before/After Earnings
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