Waste Management, Inc. - WM STOCK NEWS

Waste Management reported strong financial results for Q2 2021, with revenue reaching $4.476 billion, up from $3.561 billion in Q2 2020. Net income rose to $351 million from $307 million, translating to a diluted EPS of $0.83 compared to $0.72 last year. Adjusted operating EBITDA increased by 28%, and the company announced a revised 2021 revenue growth forecast of 15.5% to 16.0%. Additionally, Waste Management is enhancing shareholder returns with up to $1.35 billion in share repurchases.

Waste Management will release its Q2 2021 financial results before the market opens on July 27, 2021. An investor conference call is scheduled for 10 a.m. ET the same day. The call will be accessible via investors.wm.com or by phone for US/Canada listeners at 877-710-6139 and international listeners at 706-643-7398. A replay will be available until August 11, 2021. Waste Management is North America's leading provider of waste management services, including collection, disposal, and recycling.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) for National Guaranty Insurance Company of Vermont (NGIC). The ratings outlook is stable, reflecting NGIC's strong balance sheet and operating performance, as well as effective risk management. However, a substantial portion of policyholder surplus is loaned back to Waste Management (WM), which has affected liquidity. Nonetheless, WM's robust financials offer a safety net. Negative actions could arise if NGIC's financial strength declines significantly or if WM faces credit profile deterioration.

Waste Management (NYSE: WM) is hosting Career Day events on May 21-22 to fill frontline driver and technician roles. The company introduces new employee benefits, including flexible work schedules, sign-on bonuses, and the 'Your Tomorrow' education program in partnership with Guild Education, allowing nearly 36,000 employees to access over 170 fully-funded educational programs. The events aim to attract new talent and support existing employees’ growth. This initiative showcases WM's commitment to reskilling and upskilling, enhancing its position as an employer of choice in the industry.

Waste Management, Inc. (NYSE: WM) announced a cash offer to purchase $1.29 billion in aggregate principal amount of senior notes. The notes include various maturities and fixed spreads compared to U.S. Treasury securities. The offer starts with a total consideration based on market practices, with payments expected post-Early Tender Time on May 13, 2021. The firm has engaged major financial institutions as dealer managers and urges noteholders to read the Offer to Purchase for crucial information. The transaction is aimed at optimizing its capital structure.

Waste Management, Inc. (NYSE: WM) announced early tender results for its offer to purchase up to $950 million in senior notes, which has now been increased to $1.29 billion. The offer, set to expire on May 25, 2021, saw valid tenders exceed the maximum amount, leading to the acceptance of all notes with priority levels 1 through 10. The company will also announce pricing later today, with all accepted notes to receive accrued interest. The offer remains strictly subject to the conditions outlined in the Offer to Purchase dated April 28, 2021.

Waste Management, Inc. (NYSE: WM) has declared a quarterly cash dividend of $0.575 per share, which will be payable on June 18, 2021 to shareholders of record as of June 4, 2021. This dividend reflects the company's commitment to returning value to its shareholders. Waste Management is a leading provider of waste management and environmental services in North America, including collection, disposal, and recycling services across the United States and Canada.

Waste Management (NYSE: WM) has priced a $950 million public offering of senior notes as part of a previously filed registration statement. The offering includes two tranches: $475 million of 2.00% senior notes due June 1, 2029, and $475 million of 2.95% senior notes due June 1, 2041, guaranteed by subsidiary Waste Management Holdings, Inc. Ratings for the notes are A- (S&P), BBB+ (Fitch), and Baa1 (Moody's). Proceeds will fund a tender offer for existing notes and general corporate purposes, with the offering closing on May 12, 2021.

Waste Management (NYSE: WM) announced an offer to purchase up to $950 million of its senior notes through its subsidiary, WMH. The offer will accept validly tendered notes on a pro-rata basis according to set priority levels. Notably, the offer is not contingent on a minimum principal amount being tendered, yet it caps purchases at the stated maximum. The indicative timetable outlines key dates, including the early tender deadline of May 11, 2021 and expiration on May 25, 2021. Interested holders are advised to review the terms set in the Offer to Purchase.