Waste Management Hosts 2019 Investor Day in New York City
May 30 2019 - 6:00AM
Business Wire
The Company Outlines Strategy to Accelerate
Growth; Reaffirms 2019 Full-Year Guidance, Excluding
Acquisition-Related Considerations; and Establishes 2021 Financial
Growth Rates
Waste Management, Inc. (NYSE: WM) will host its Investor Day at
the New York Stock Exchange today beginning at 8:30 a.m. EDT to
provide an in-depth review of the Company’s long-term vision,
growth strategies, capital allocation framework, and operational
and financial objectives. The event will feature presentations and
question and answer sessions with every member of the Company’s
senior leadership team.
“In recent years, we have extended our leadership position by
executing several key strategic initiatives, including attracting
top senior-level talent, optimizing our business, investing in
technology and strengthening our balance sheet,” said Jim Fish,
President and Chief Executive Officer of Waste Management. “Today,
Waste Management is better positioned than ever and our team is
excited to use our Investor Day as a platform to outline the next
phase of our strategy to create shareholder value. Our plan is
grounded in cultivating a purpose-led culture and offering
differentiated service through our integrated use of technology and
data analytics to provide a better experience for our customers,”
added Fish.
Today, the Company reaffirms its 2019 financial outlook,
excluding Advanced Disposal Services, Inc. (“Advanced Disposal”)
acquisition-related financing costs and revisions in outlook for
capital allocated to share repurchases. The Company will also
announce long-term growth targets that reflect confidence in its
ability to execute on strategic priorities to grow the business.
These long-term growth targets, which are outlined below, also
exclude the expected revenue, earnings and free cash flow
contributions expected from the acquisition of Advanced
Disposal.
2019 – 2021 LONG-TERM AVERAGE ANNUAL GROWTH TARGETS
- Revenue growth in the collection and disposal business of
between 4% and 6%.
- Adjusted Operating EBITDA growth of between 5% and 7%.(a)
- Free Cash Flow growth of between 5% and 7%.(a)
EVENT WEBCAST DETAILS
The live webcast of Waste Management’s Investor Day, including
question and answer sessions, will begin at 8:30 a.m. EDT and
conclude at approximately 12:30 p.m. The presentations and webcast
can be accessed from Waste Management’s Investor Relations website
at http://investors.wm.com/events/event-details/2019-investor-day
and will be available for replay following the event.
(a) Adjusted operating
EBITDA and free cash flow are non-GAAP measures. Please see the May
30, 2019 Investor Day presentation, available at the website
identified in the prior paragraph, for definitions of these terms
and additional information about the Company’s use of non-GAAP
measures. Due to the uncertainty of the likelihood, amount and
timing of future items that may impact these measures, the Company
is unable to provide a quantitative reconciliation of long-term
projected adjusted operating EBITDA growth or long-term projected
free cash flow growth to the comparable GAAP measures.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that
involve risks and uncertainties, including all statements about
future performance, 2019 financial outlook, achievement of
long-term growth targets and the acquisition of Advanced Disposal.
You should view these statements with caution. These statements are
not guarantees of future performance, circumstances or events. They
are based on the facts and circumstances known to the company as of
the date the statements are made. Factors that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements in this press release are discussed in
our Annual Report on Form 10-K for the year ended December 31,
2018, and our Quarterly Report on Form 10-Q for the period ended
March 31, 2019. The company assumes no obligation to update any
forward-looking statement, including financial estimates and
forecasts, whether as a result of future events, circumstances or
developments or otherwise.
ABOUT WASTE MANAGEMENT
Waste Management, based in Houston, Texas, is the leading
provider of comprehensive waste management environmental services
in North America. Through its subsidiaries, the Company provides
collection, transfer, recycling and resource recovery, and disposal
services. It is also a leading developer, operator and owner of
landfill gas-to-energy facilities in the United States. The
Company’s customers include residential, commercial, industrial,
and municipal customers throughout North America. To learn more
information about Waste Management, visit www.wm.com or
www.thinkgreen.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190530005235/en/
Waste Management
AnalystsEd Egl713.265.1656eegl@wm.com
MediaAndy
Izquierdo832.710.5287aizquierdo@wm.com
Web sitewww.wm.com
Waste Management (NYSE:WM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Waste Management (NYSE:WM)
Historical Stock Chart
From Sep 2023 to Sep 2024