8-KEarnings & ResultsExhibits & Filings

WASTE MANAGEMENT INC 8-K Report, Financial Results (Feb 8, 2007)

Filed February 8, 2007For Securities:WM

Summary

Waste Management, Inc. (WM) filed an 8-K on February 8, 2007, to announce its financial results for the fiscal quarter and full year ended December 31, 2006. The filing includes a press release detailing these results and mentions that the company will host a conference call to discuss them. Investors should note the use of non-GAAP financial measures, such as free cash flow and adjusted earnings per share, which management will elaborate on, along with reconciliations provided in the press release. The press release also provides a detailed reconciliation of the reported effective tax rate to an adjusted effective tax rate for the full year 2006. This adjustment highlights the impact of certain non-recurring or unusual items, including expenses from divestitures, asset impairments, an unclaimed property charge, and significant benefits from income tax audit settlements and related items. This detailed breakdown aims to provide investors with a clearer understanding of the underlying operational performance separate from these extraordinary factors.

Key Highlights

  • 1Waste Management, Inc. (WM) reported its Q4 and full-year 2006 financial results on February 8, 2007.
  • 2The company issued a press release (Exhibit 99.1) containing the detailed financial results and commentary.
  • 3A public conference call was scheduled for February 8, 2007, to discuss the reported results and projections.
  • 4Management will discuss non-GAAP financial measures including free cash flow, adjusted earnings per share, and adjusted effective tax rate.
  • 5The filing provides a reconciliation of the reported effective tax rate to an adjusted effective tax rate for the full year 2006.
  • 6Adjustments to the tax rate include impacts from divestitures, impairments, unclaimed property charges, and income tax audit settlements.
  • 7A replay of the conference call will be available on WM's website and via telephone.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Waste Management, Inc.'s financial results for the fiscal quarter and full year ended December 31, 2006, and to furnish a related press release.

Waste Management will be discussing non-GAAP financial measures including free cash flow, adjusted earnings per share, and adjusted effective tax rate. These measures are intended to provide additional insight beyond standard GAAP reporting.

The adjusted effective tax rate for 2006 is influenced by several factors, including expenses from divestitures, asset impairments, an unclaimed property charge, and significant benefits derived from income tax audit settlements and related interest income, along with a reduction in the estimated effective tax rate.

Investors can find more detailed information in the press release attached as Exhibit 99.1 to this 8-K filing, which includes explanations and reconciliations of the non-GAAP measures to the most comparable GAAP measures.