Waste Management, Inc. - WM STOCK NEWS

WM (NYSE: WM) will release its first-quarter financial results after market close on April 26, 2023, followed by an investor conference call on April 27 at 10 a.m. ET. Listeners can access the live audio webcast at investors.wm.com and a replay will be available afterward. The company, North America's largest waste management provider, focuses on sustainability and environmental solutions, operating a vast disposal network and a significant fleet of natural gas trucks. More details on their investor presentations can be found on their website.

Waste Management, Inc. (NYSE: WM) has priced a public offering of $1.25 billion in senior notes consisting of $750 million due February 15, 2030, and $500 million due February 15, 2033, both with a 4.625% interest rate. The offering is guaranteed by Waste Management Holdings, Inc. The company plans to close the offering on February 15, 2023, using the proceeds to repay commercial paper borrowings, settle maturing senior notes, and for general corporate purposes. The notes are rated A- by S&P, BBB+ by Fitch, and Baa1 by Moody’s.

Waste Management (NYSE: WM) has elected Bruce Chinn, the CEO of Chevron Phillips Chemical, to its board of directors effective February 10, 2023. Chinn brings over 40 years of leadership experience, emphasizing operational excellence and a dedication to safety. His appointment enriches the board, which now has 10 members, 9 of whom are independent. Chairman Tom Weidemeyer and CEO Jim Fish expressed confidence in Chinn’s ability to advance WM's circular solutions and renewable energy focus. His role will include participation in the Audit Committee, aiming to enhance operational efficiencies and safety culture.

WM (NYSE: WM) has declared a quarterly cash dividend of $0.70 per share, scheduled for payment on March 24, 2023, to stockholders on record as of March 10, 2023. The company, headquartered in Houston, Texas, is North America's largest waste management provider, offering comprehensive environmental solutions including collection, recycling, and disposal services. WM is committed to sustainability and innovation, operating the largest disposal network and collection fleet in North America.

Waste Management, Inc. (WM) reported robust financial performance for the year ended December 31, 2022, showcasing double-digit growth in income from operations, net income, and diluted EPS. Revenue increased to $19.7 billion, up from $17.9 billion in 2021. Adjusted operating EBITDA reached $5.5 billion, representing 28% of revenue. The company's collection and disposal business notably exceeded expectations, contributing to a 9.5% growth in adjusted operating EBITDA for the year. Looking forward, WM anticipates a revenue growth of 4% to 5.5% for 2023 with a core price increase of 6.5% to 7%. Additionally, a dividend increase of $0.20 per share is planned, marking the 20th consecutive year of dividend growth.

WM (NYSE: WM) will release its fourth quarter and full-year 2022 financial results on February 1, 2023, before the market opens. Following the announcement, an investor conference call will take place at 10 a.m. ET. Investors can access the live audio webcast on the company’s investor relations website. WM is North America's largest waste management solutions provider, focusing on collection, recycling, and disposal services across the U.S. and Canada, emphasizing sustainability and efficiency through a significant natural gas truck fleet and renewable energy initiatives.

WM announced a 7.7% increase in its annual dividend per share, raising it from $2.60 to $2.80. This marks the twentieth consecutive year of dividend growth. The quarterly dividend is set to increase from $0.65 to $0.70 per share. Additionally, the Board has authorized a $1.5 billion stock buyback program, replacing the previous authorization fully utilized in 2022. The CEO highlighted strong cash generation and commitment to returning value to shareholders.

WM and Dow have launched a new collaboration to enhance residential recycling for hard-to-recycle plastic films in select U.S. markets. Only 1.9% of U.S. households currently recycle plastic films at curbside. This initiative aims to divert over 120,000 metric tons of plastic film from landfills annually. The program starts in Hickory Hills, Illinois, with plans to expand to more cities. WM will invest over $800 million by 2025 to improve recycling infrastructure, with expectations to reach 8% of U.S. households using film recycling by then.