Waste Management - WM STOCK NEWS

Waste Management, Inc. (NYSE: WM) has extended the expiration date of its private exchange offer and consent solicitation for Stericycle, Inc.'s $500 million 3.875% Senior Notes due 2029. The new expiration date is October 31, 2024, at 5:00 p.m., New York City time. As of October 8, 2024, $485,255,000 in aggregate principal amount of Stericycle Notes, representing approximately 97.05% of the total, had been validly tendered.

The exchange offer is contingent on WM's pending acquisition of Stericycle. The proposed amendments to the Stericycle Indenture will become operative on the settlement date, expected to be about three business days after the amended expiration date. The exchange offer is to eligible holders who meet specific qualifications, including qualified institutional buyers and non-U.S. persons.

WM (NYSE: WM) has announced the date for its third quarter earnings release and conference call. The company will release its financial results after market close on Monday, October 28, 2024. The investor conference call is scheduled for Tuesday, October 29, 2024, at 10 a.m. ET.

Investors can access a live audio webcast of the conference call by visiting investors.wm.com and selecting 'Events & Presentations' from the website menu. A replay of the audio webcast will be available at the same location after the call concludes. Participants dialing in for the conference call should pre-register to obtain their dial-in and passcode details. Pre-registration is available at any time, including up to and after the call start time.

Waste Management (NYSE: WM) announced successful early tender results in its private exchange offer and consent solicitation for Stericycle's $500 million 3.875% Senior Notes due 2029. As of September 23, 2024, $474,581,000 (94.92%) of the notes were validly tendered. WM intends to amend the indenture, eliminating most restrictive covenants and events of default.

For each $1,000 of notes tendered by the Early Tender Deadline, eligible holders will receive an equal principal amount of WM Notes and $2.63 cash. The exchange offer expires on October 8, 2024. WM's obligation to accept and exchange the notes is subject to certain conditions, including the consummation of the previously announced merger with Stericycle.

The exchange offer is only available to qualified institutional buyers and non-U.S. persons outside the United States, in compliance with applicable securities laws.

Waste Management, Inc. (NYSE: WM) has announced a private exchange offer for Stericycle, Inc.'s $500 million 3.875% Senior Notes due 2029. WM is offering to exchange these notes for new WM Notes with the same interest rate and maturity date. Eligible holders who tender by the Early Tender Deadline (September 23, 2024) will receive additional Cash Consideration ranging from $2.50 to $5.00 per $1,000 principal amount.

Concurrently, WM is conducting a Consent Solicitation to amend the SRCL Notes and indenture, eliminating most restrictive covenants and events of default. The exchange offer expires on October 8, 2024, unless extended. This offer is subject to conditions, including the consummation of WM's previously announced merger with Stericycle.

WM (NYSE: WM) has declared a quarterly cash dividend of $0.75 per share. This dividend will be payable on September 27, 2024, to stockholders of record as of September 13, 2024. The announcement demonstrates WM's commitment to providing regular returns to its shareholders, which can be seen as a positive signal for the company's financial health and confidence in its future performance. Dividend payments are often viewed favorably by income-focused investors and can contribute to the overall attractiveness of a stock.

WM (NYSE: WM) reported strong Q2 2024 results, with revenue growing 5.5% to $5.402 billion. Adjusted operating EBITDA increased 10.3% to $1.618 billion, with margin expanding 130 basis points to a record 30.0%. The company's Collection and Disposal business saw robust growth, driven by a 6.8% core price increase. Net income rose to $732 million, with diluted EPS of $1.82 on an adjusted basis.

WM closed over $750 million in solid waste acquisitions through July and is progressing with its planned Stericycle acquisition. The company reaffirmed its increased full-year outlook for adjusted operating EBITDA between $6.375 and $6.525 billion, and free cash flow including sustainability investments between $2.0 and $2.15 billion.

WM (NYSE: WM) has announced the release of its second quarter financial results. The results will be available after market close on July 24, 2024. An investor conference call will follow on July 25, 2024, at 10 a.m. ET. To participate in the live audio webcast, visit investors.wm.com and navigate to the 'Events & Presentations' section. A replay of the webcast will be accessible at the same location after the call. Participants should register in advance to obtain dial-in details and passcodes. Additionally, WM will participate in various investor presentations and conferences throughout the year, with schedules available on their website.

Waste Management (NYSE: WM) has announced the pricing of a $1.5 billion public offering of senior notes, consisting of $750 million 4.950% notes due in 2027 and $750 million 4.950% notes due in 2031. The notes, guaranteed by Waste Management Holdings, have been rated A- by S&P and Fitch, and A3 by Moody's. Closing is expected on July 3, 2024, pending conditions. Proceeds will repay commercial paper borrowings and for other corporate purposes. Joint book-running managers include BNP Paribas, SMBC Nikko, Truist Securities, Wells Fargo, and others.

WM (NYSE: WM) will participate in the Stifel Cross Sector Insight Conference in Boston on June 5. The event includes a live audio webcast of a fireside chat with WM management at 8:35 a.m. ET, accessible through the company's investor relations website. A replay will be available post-event. WM frequently engages in investor presentations and conferences, with details provided on their website.