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Last $50.20 USD
Change Today +0.42 / 0.84%
Volume 1.2M
WM On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 3:34 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

waste management inc (WM) Key Developments

Waste Management, Inc. Declares Quarterly Dividend, Payable on September 24, 2015

Waste Management, Inc. announced the declaration of a quarterly cash dividend of $0.385 per share payable September 24, 2015 to stockholders of record on September 14, 2015.

Waste Management, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for 2015

Waste Management, Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenues of $3,315 million against $3,561 million a year ago. Income from operations was $502 million against $532 million a year ago. Income before income taxes was $389 million against $402 million a year ago. Net income attributable to company was $274 million or $0.60 per basic and diluted share against $210 million or $0.45 per basic and diluted share a year ago. Net cash provided by operating activities was $816 million against $555 million a year ago. Capital expenditures were $296 million against $208 million a year ago. Adjusted net income was $306 million or $0.67 per diluted share against $279 million or $0.60 per diluted share a year ago. Adjusted income from operations was $557 million compared to against $545 million a year ago. Adjusted Operating EBITDA was $879 million compared to against $868 million a year ago. For the six months, the company reported operating revenues of $6,355 million against $6,957 million a year ago. Income from operations was $942 million against $1,001 million a year ago. Income before income taxes was $167 million against $738 million a year ago. Net income attributable to company was $145 million or $0.32 per basic and diluted share against $438 million or $0.94 per basic and diluted share a year ago. Net cash provided by operating activities was $1,315 million against $1,139 million a year ago. Capital expenditures were $529 million against $474 million a year ago. The company now expects that 2015 adjusted earnings per diluted share should be at the high end of the company’s previously announced guidance of between $2.48 and $2.55, despite negative headwinds to diluted earnings per share of between $0.07 and $0.10 from recycling operations and about $0.04 from the impact of foreign currency translation adjustments. The company also expects to achieve the upper end of the company’s full year free cash flow guidance of between $1.4 and $1.5 billion. The company expects capital expenditures to be at the high end of guidance range of $1.2 billion to $1.3 billion.

Waste Management, Inc. Announces Amended and Restated its Revolving Credit Agreement with Syndicate of Banks

On July 10, 2015, Waste Management, Inc. amended and restated its revolving credit agreement with a syndicate of banks, Bank of America, N.A., as administrative agent, JPMorgan Chase Bank, N.A. and Barclays Bank PLC, as syndication agents, BNP Paribas, Citibank, N.A., Deutsche Bank Securities Inc., The Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Bank Ltd., U.S. Bank National Association and Wells Fargo Bank, National Association, as co-documentation agents and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Barclays Bank PLC, as lead arrangers and joint bookrunners. The Third Amended and Restated Credit Agreement maintained the total commitment under the facility at $2.25 billion and extended the maturity date to July 10, 2020. Waste Management Holdings, Inc. guarantees all of the company's obligations under the third amended and restated credit agreement. Under the third amended and restated credit agreement, the company is required to pay, quarterly in arrears, a facility fee in an amount ranging from 0.07% to 0.20% of the $2.25 billion in letter of credit and borrowing availability under the agreement and letter of credit fees in an amount ranging from 0.805% to 1.30% of outstanding letters of credit issued under the agreement (the L/C Fee). Additionally, any borrowings under the Third Amended and Restated Credit Agreement will bear interest at either (x) the Eurodollar London Interbank Offered Rate for the applicable interest period, plus a spread ranging from 0.805% to 1.30% per annum (a Eurodollar Loan), or (y) a base rate equal to the higher of the U.S. Federal Funds Rate plus 1/2 of 1%, BofA's announced prime rate, or the Eurodollar Rate plus 1%, plus a spread ranging from zero to 0.30% per annum. The Facility Fee and the L/C Fee percentages and the spread applicable to Eurodollar Loans and base rate loans depend on the company's senior public debt rating as determined by Standard & Poor's and Moody's. Based on the company's current senior public debt rating, the Facility Fee is 0.10% per annum, the L/C Fee is 1.0% per annum, and the spreads applicable to Eurodollar Loans and Base Rate Loans are 1.0% and zero per annum, respectively. At closing, the company had $833 million of letters of credit outstanding under the third amended & restated credit agreement. The company had unused and available credit capacity of $1.417 billion.

Waste Management, Inc. to Report Q2, 2015 Results on Jul 23, 2015

Waste Management, Inc. announced that they will report Q2, 2015 results at 10:00 AM, US Eastern Standard Time on Jul 23, 2015

Waste Management, Inc., Q2 2015 Earnings Call, Jul 23, 2015

Waste Management, Inc., Q2 2015 Earnings Call, Jul 23, 2015

 

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WM

Industry Average

Valuation WM Industry Range
Price/Earnings 22.7x
Price/Sales 1.7x
Price/Book 4.1x
Price/Cash Flow 8.8x
TEV/Sales 1.0x
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