Industrials
Waste Management
$82.45B
48K
Key insights and themes extracted from this filing
The company reported a 5.5% year-over-year increase in revenue, reaching $5,159 million, primarily driven by higher yield in the Collection and Disposal businesses. However, this was partially offset by decreased revenue from the energy surcharge program and lower industrial and residential collection volumes.
Operating expenses increased by $54 million year-over-year to $3,140 million, primarily due to commodity-driven business impacts, increased volumes in WMSBS, and inflationary pressures. However, efficiency gains and cost control initiatives helped to reduce the impact on margins.
Net income attributable to Waste Management, Inc. increased to $708 million, or $1.75 per diluted share, driven by increased income from operations and a reduction in income tax expense of $37 million due to federal tax credits from RNG investments. This was partially offset by higher interest expense and net losses from unconsolidated entities.