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Waste Management Inc WM

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Morningstar’s Analysis

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Waste Management's Q3 Results Featured Strong Organic Growth, but Inflation Pressured Margins

Analyst Note

| Brian Bernard, CFA, CPA |

Waste Management's third quarter showed that the wide-moat waste collection and disposal leader continues to benefit from strengthening end markets and good pricing power. Indeed, volume increased 3.8% year over year and core price, a measure of Waste Management's pricing effectiveness, increased 4.6%. The Advanced Disposal acquisition (completed in October 2020), a strong contribution from recycling operations, and fuel surcharges/other fees also contributed to the firm's top line, and total revenue grew nearly 21% year over year.

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Company Profile

Business Description

Waste Management ranks as the largest integrated provider of traditional solid waste services in the United States, operating approximately 268 active landfills and about 350 transfer stations (includes acquired Advanced Disposal landfills and transfer stations). The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.

1001 Fannin Street
Houston, TX, 77002
T +1 713 512-6200
Sector Industrials
Industry Waste Management
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Slow Growth
Employees 48,250