Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Wednesday, July 30
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Commodities»WM’s Q3 2024 Gains Fueled by Rising Recycling Commodity Prices and Increased Landfill Volumes
    Commodities

    WM’s Q3 2024 Gains Fueled by Rising Recycling Commodity Prices and Increased Landfill Volumes

    October 29, 20244 Mins Read


    WM (NYSE: WM) posted a strong Q3 2024, with 7.9 percent revenue growth and adjusted operating EBITDA increase of 11 percent.

    The better-than-expected results were driven by disciplined pricing strategies and operational efficiencies. WM also saw higher market prices for recyclable commodities and rising landfill volumes.

    Jim Fish, WM president and CEO, cited the company’s investments in technology,fleets and its asset network along with disciplied pricing strategies led to robust earnings results.

    “We came into this year expecting strong execution across several fronts, and through the first nine months we have delivered results that exceeded our own high expectations,” he said. 

    Revenue in Q3 2024 increased to $5.6 billion on a adjusted basis, up from $5.198 billion in Q3 2023. Core price grew 6.5 percent, showing a strong execution on pricing.

    The company reported $3.88 billion of net cash provided by operating activities up from $3.184 billion in Q3 2023, an increase of 16.2 percent year over year.

    Surpassing expectations, WM projects full-year revenue growth around 6 percent, exceeding its previous high-end guidance eof 5.75 percent.

    The recently-announced acquisiton of Stericycle in June 2024 is expected to close prior to the end of the year. The comp

    Related:This Week in Waste: Top Stories October 21 – October 24, 2024

    “We continue to progress towards closing the acquisition of Stericycle, which will add a complimentary medical waste platform to our business and expand our suite of service offerings during the quarter,” Fish commented. “Stericycle shareholders approved the merger agreement. We received clearance from all international regulators, except for Canada, which is progressing. We’re also advancing our integration planning, which has confirmed our confidence in the value of the acquisition.”

    WM has placed a strategic focus on its acquisition pipeline, with $790 million in acquired businesses in 2024, resulting in total contributed revenue growth of $108 million.

    Total capital expenditures through the end of 2024 are expected to reach between $3.15 and $3.25 billion, with about $950 million targeted at sustainability growth investments.

    WM completed eight recycling projects across its facilitied in Q3 2024, with upgrades in six facilities and the opening of two in New York and Florida. The solid waste services provider completed 24 of the 39 projects in its growth program, which has added 1.5 million tons of annual recycling capacity across North America.

    “Our automated recycling facilities are consistently delivering lower labor costs per ton and higher blended value on our commodity sales compared to our legacy plants, which translates into better operating EBITDA margins,” Fish said to investors.

    Related:This Week in Waste: Top Stories October 7 – Oct. 10, 2024.

    The company is expcting a “pivotal year of contributions” from its renewable natural gas (RNG) investments. Three of WM’s 20 planned projects are now in service with four additional projects to be commissioned by year end. The seven toal projects will generate six milion MMBtu of annual production in 2025, according to the company.

    John Morris, WM COO, applauded the compan’ys workforce for cleanup efforts following Hurricane Helene and Milton, which cost an estimated $50 billion in financial damages to Florida, Georgia, and North Carolina, among other impacted areas.

    “I want to take a minute to acknowledge and thank our team for providing safe and reliable service to our customers, especially considering the severe weather events, Hurricane Helene and Milton affected both our employees and the communities we serve,” he stated. “We’re hard working. We are working hard to support those impacted, helping restore a sense of normalcy in these areas.”

    Fish concluded with a positive outlook going into the next year, saying, “As we look ahead to 2025, we anticipate continued growth in our solid waste business, increased contributions from our sustainability growth investments, and the successful integration of the Stericycle business to come together to create a significant step change in revenue, earnings and free cash flow.”

    Related:This Week in Waste: Top Stories from September 2024 – Part 2

    Q3 2024 Highlights :

    Revenue: $5.609 billion
    Income from Operations: $1.153 billion
    Operating EBITDA: $1.71 billion
    Operating EBITDA Margin: 30.5 percent
    Net Income: $790 million





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleMicroStrategy, Coinbase Shares Are Rising Tuesday: What’s Going On? – MicroStrategy (NASDAQ:MSTR)
    Next Article B2B’s $7 Billion Embedded Finance Opportunity

    Related Posts

    Commodities

    360 ONE Asset’s new multi asset fund: All you need to know

    July 30, 2025
    Commodities

    The Commodities Feed: Oil rallies as Trump confirms new deadline for Russia | articles

    July 29, 2025
    Commodities

    Trump Says He Is “not Concerned” About Commodities Markets’ Reaction To Sanctions Against Russian Federation – Belarusian News

    July 29, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Bitcoin

    Bitcoin Price Correction Sees BTC Dip Below $66,000

    July 30, 2024
    Stock Market

    How The Gaming Industry’s Financial Performance Impacts Stock Market Valuations

    June 25, 2025
    Property

    Third of UK adults aspire to own BTL property

    June 12, 2025
    What's Hot

    Metaplanet Expands Bitcoin Holdings Again in Steady March Toward 2026 Goal

    July 27, 2025

    Iowa State University names new VP of operations and finance • Iowa Capital Dispatch

    August 16, 2024

    Le satellite MethaneSAT financé par Bezos est perdu dans l’espace

    July 1, 2025
    Most Popular

    Government May Gain Control Over Pataudi Family’s Rs 15,000 Crore Property In Bhopal

    January 21, 2025

    Les commerçants s’accumulent sur des positions courtes alors que le bitcoin s’approche d’enregistrement élevé

    July 4, 2025

    REP WEISSMAN: Here’s a plan to keep local property tax control local

    August 26, 2024
    Editor's Picks

    Acea et Metito Utilities signent un protocole d’accord pour le développement d’infrastructures hydrauliques en Afrique et au Moyen-Orient -Le 24 février 2025 à 14:02

    February 24, 2025

    Zhejiang China Commodities City Group : hausse de 13 % des bénéfices au premier trimestre, baisse de 8 % des actions

    April 7, 2025

    Woman subject to UK’s first ‘McMafia’ wealth order forfeits house and golf club

    August 5, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.