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Waste Management (WM)

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator, and owner of landfill gas-to-energy facilities in the United States. The Company's customers include residential, commercial, industrial, and municipal customers throughout North America.

Company profile

Ticker
WM
Exchange
Website
CEO
James Fish
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
USA WASTE SERVICES INC
SEC CIK
Subsidiaries
635952 Ontario Inc. • ADS Renewable Energy • ADS Solid Waste of NJ, Inc. • Advanced Disposal Acquisition Sub, LLC • Advanced Disposal Recycling Services Atlanta, LLC • Advanced Disposal Recycling Services Gulf Coast, LLC • Advanced Disposal Services Alabama Holdings, LLC • Advanced Disposal Services Alabama, LLC • Advanced Disposal Services Biloxi MRF, LLC • Advanced Disposal Services Birmingham, Inc. ...
IRS number
731309529

WM stock data

Analyst ratings and price targets

Last 3 months

Calendar

27 Jul 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Aug 22 Michael J. Watson Common Stock Sell Dispose S No No 169.8274 8,971 1.52M 32,220.963
11 Aug 22 Michael J. Watson Common Stock Option exercise Acquire M No No 85.34 3,528 301.08K 41,191.963
11 Aug 22 Michael J. Watson Common Stock Option exercise Acquire M No No 73.335 5,443 399.16K 37,663.963
11 Aug 22 Michael J. Watson Stock Option Common Stock Option exercise Dispose M No No 73.335 5,443 399.16K 0
11 Aug 22 Michael J. Watson Stock Option Common Stock Option exercise Dispose M No No 85.34 3,528 301.08K 0
9 Aug 22 John J Morris Common Stock Sell Dispose S No No 169.8247 22,795 3.87M 95,461
9 Aug 22 John J Morris Common Stock Option exercise Acquire M No No 110.81 8,889 984.99K 118,256
9 Aug 22 John J Morris Common Stock Option exercise Acquire M No No 126.005 13,906 1.75M 109,367
9 Aug 22 John J Morris Stock Option Common Stock Option exercise Dispose M No No 110.81 8,889 984.99K 17,778
9 Aug 22 John J Morris Stock Option Common Stock Option exercise Dispose M No No 126.005 13,906 1.75M 13,907
79.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1580 1625 -2.8%
Opened positions 103 239 -56.9%
Closed positions 148 92 +60.9%
Increased positions 598 567 +5.5%
Reduced positions 575 543 +5.9%
13F shares Current Prev Q Change
Total value 48.54B 52.17B -7.0%
Total shares 327.25M 331.92M -1.4%
Total puts 1.19M 3.75M -68.3%
Total calls 1.49M 4.12M -63.8%
Total put/call ratio 0.8 0.9 -12.5%
Largest owners Shares Value Change
Vanguard 35.31M $5.6B +1.0%
BLK Blackrock 30.62M $4.85B +2.2%
Cascade Investment, L.L.C. 18.63M $0 0.0%
Bill & Melinda Gates Foundation Trust 18.63M $2.95B 0.0%
STT State Street 18.48M $2.93B -5.0%
Geode Capital Management 6.87M $1.09B +3.9%
AMP Ameriprise Financial 6.07M $960.82M +3.8%
Lazard Asset Management 6.02M $953.51M -2.5%
Nordea Investment Management Ab 5.53M $889.81M +4.2%
Capital Research Global Investors 4.95M $784.12M -43.6%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -4.12M EXIT
Capital Research Global Investors 4.95M -3.83M -43.6%
Parnassus Investments 4.69M -1.82M -28.0%
Diamond Hill Capital Management 1.77M +1.77M NEW
Aaron Wealth Advisors 1.69M +1.68M +15459.1%
Allianz Asset Management GmbH 2.56M +1.66M +186.2%
Wellington Management 2.23M -1.1M -33.0%
Pictet Asset Management 4.58M +1.04M +29.4%
STT State Street 18.48M -975.67K -5.0%
Verity Asset Management 932.3K +932.3K NEW

Financial report summary

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Risks
  • If we fail to implement our business strategy, our financial performance and our growth could be materially and adversely affected.
  • Our operations must comply with extensive existing regulations, and changes in regulations and/or enforcement of regulations can restrict or alter our operations, increase our operating costs, increase our tax rate, or require us to make additional capital expenditures.
  • Our business is subject to operational and safety risks, including the risk of personal injury to employees and others.
  • We may be unable to obtain or maintain required permits or expand existing permitted capacity of our landfills, which could decrease our revenue and increase our costs.
  • If we are unable to attract, hire or retain key team members and a high-quality workforce, or if our succession planning does not develop an adequate pipeline of future leaders, it could disrupt our business, jeopardize our strategic priorities and result in increased costs, negatively impacting our results of operations.
  • Our business depends on our reputation and the value of our brand.
  • We have made significant investments in an extensive natural gas truck fleet, which makes us partially dependent on the availability of natural gas and fueling infrastructure and vulnerable to natural gas prices, and requirements to transition to other vehicle types could impair these investments.
  • Increases in our labor costs as a result of labor unions organizing, changes in regulations related to labor unions or increases in employee minimum wages, could adversely affect our future results.
  • The seasonal nature of our business, severe weather events resulting from climate change and event driven special projects cause our results to fluctuate, and prior performance may not be indicative of our future results.
  • The COVID-19 global pandemic has caused a significant disruption in social and commercial activity throughout North America, and the continuation of the COVID-19 pandemic, or other similar pandemic conditions, may have a material adverse impact on our business, financial condition, results of operations and cash flows.
  • The waste industry is highly competitive, and if we cannot successfully compete in the marketplace, our business, financial condition and operating results may be materially adversely affected.
  • Our revenues, earnings and cash flows will fluctuate based on changes in commodity prices, and commodity prices for recyclable materials are particularly susceptible to volatility based on regulations and tariffs that affect our ability to export products.
  • Increasing customer preference for alternatives to landfill disposal and bans on certain types of waste could reduce our landfill volumes and cause our revenues and operating results to decline.
  • General economic conditions can directly and adversely affect revenues for environmental services and our income from operations margins.
  • Weakness in the economy may expose us to credit risk of governmental entities and municipalities and other major customers, which could negatively impact our financial results.
  • The Company’s effective tax rate and tax liability could materially change as a result of the adoption of new tax legislation and other factors.
  • Significant shortages in diesel fuel supply or increases in diesel fuel prices will increase our operating expenses.
  • Developments in technology could trigger a fundamental change in the waste management industry, as waste streams are increasingly viewed as a resource, which may adversely impact volumes at our landfills and our profitability.
  • If we are not able to develop new service offerings and protect intellectual property or if a competitor develops or obtains exclusive rights to a breakthrough technology, our financial results may suffer.
  • We are increasingly dependent on technology in our operations and if our technology fails, our business could be adversely affected.
  • Significant cybersecurity incidents negatively impact our business and our relationships with customers, vendors and employees and expose us to increased liability.
  • Our operations are subject to environmental, health and safety laws and regulations, as well as contractual obligations that may result in significant liabilities.
  • The impact of climate change, and the adoption of climate change legislation or regulations restricting emissions of greenhouse gases, could increase our costs to operate.
  • We could be subject to significant fines and penalties, and our reputation could be adversely affected, if our businesses, or third parties with whom we have a relationship, were to fail to comply with U.S. or foreign laws or regulations.
  • Currently pending or future litigation or governmental proceedings could result in material adverse consequences, including judgments or settlements.
  • Our capital requirements and our business strategy could increase our expenses, cause us to change our growth and development plans, or result in an inability to maintain our desired credit profile.
  • We have substantial financial assurance and insurance requirements and increases in the costs of obtaining adequate financial assurance, or the inadequacy of our insurance coverages, could negatively impact our liquidity and increase our liabilities.
  • We may record material charges against our earnings due to impairments to our assets.
  • We could face significant liabilities for withdrawal from Multiemployer Pension Plans.
Management Discussion
  • We evaluate, oversee and manage the financial performance of our Solid Waste business subsidiaries through our East and West Tiers. We also provide additional services that are not managed through our Solid Waste business, including both our Strategic Business Solutions (“WMSBS”) and Sustainability and Environmental Solutions (“SES”) businesses,
  • recycling brokerage services, landfill gas-to-energy services and certain other expanded service offerings and solutions. The mix of operating revenues from our major lines of business is reflected in the table below (in millions):
  • Collection and Disposal Average Yield — This measure reflects the effect on our revenue from the pricing activities of our collection, transfer and landfill operations, exclusive of volume changes. Revenue growth from collection and disposal average yield includes not only base rate changes and environmental and service fee fluctuations, but also (i) certain average price changes related to the overall mix of services, which are due to the types of services provided; (ii) changes in average price from new and lost business and (iii) price decreases to retain customers.

Content analysis

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H.S. sophomore Avg
New words: accordion, administered, annum, Bank, coordinator, dollar, ESG, exceed, flat, forward, illustrating, immaterial, inclusive, Loan, mechanism, moderated, objected, overnight, post, pro, Quebec, rata, reliability, SES, slightly, SOFR, trend, usage
Removed: drove, EES, escrow, improved, November, profitability, terminated