earnings
confidence high
sentiment positive
materiality 0.80
WM Q3 2023 revenue $5.20B, adj. operating EBITDA $1.54B, margin expands 100bps to 29.6%
WASTE MANAGEMENT INC
2023-Q3 EPS reported
$4.44
revenue$15,209,000,000
- Adjusted diluted EPS $1.63 vs $1.56 YoY; net income $664M adjusted.
- Adjusted operating EBITDA margin 29.6%, up from 28.6% YoY, driven by 100bps core price above cost inflation.
- Free cash flow $612M, up from $432M; returned $653M to shareholders via dividends and buybacks.
- Sustainability growth capex guided at ~$750M for 2023; FY free cash flow expected $1.825-1.925B.
- Collection and disposal volumes up 0.7% on workday-adjusted basis; operating expense ratio improved to 61.3%.