Sector: Industrials|Industry: Waste Management|Market Cap: $82.45B|Employees: 48K
Waste Management, Inc. is North America's leading provider of comprehensive environmental solutions, offering services throughout the U.S. and Canada. The company's core business model focuses on managing waste at each stage, from collection to disposal, while also recovering valuable resources and creating clean, renewable energy. Waste Management holds a strong market position with the largest network of landfills in North America, operating in distinct geographic areas.
Revenues increased by 3.7% YoY to $20.4B, primarily driven by higher yield in collection and disposal, acquisitions, and increased volumes. These increases were partially offset by commodity price declines in recycling and renewable energy segments and decreased revenue from energy surcharges.
Operating expenses increased by 2.5% YoY to $12.6B, primarily due to inflationary pressures, particularly for maintenance and repairs and subcontractor costs, and labor cost increases. These increases were partially offset by lower recycling rebates and lower fuel prices.
Net income attributable to Waste Management, Inc. increased by 2.9% YoY to $2.3B, or $5.66 per diluted share, driven by revenue growth but partially offset by higher interest and income tax expense.