8-KEarnings & ResultsExhibits & Filings

WASTE MANAGEMENT INC 8-K Report, Financial Results (Apr 28, 2011)

Filed April 28, 2011For Securities:WM

Summary

Waste Management, Inc. (WM) filed an 8-K on April 28, 2011, to report its financial results for the quarter ended March 31, 2011. The report highlights that the company is holding a conference call to discuss these results and will be presenting certain non-GAAP financial measures, which management believes offer a clearer view of the company's core performance by excluding specific items. Investors are directed to the company's website for a webcast of the call and detailed reconciliations of these non-GAAP measures to GAAP figures. The key financial insight from the filing is the adjusted Diluted EPS, which stood at $0.48 for the quarter, compared to the reported Diluted EPS of $0.39. This adjustment reflects items such as lower income from waste-to-energy operations, increased expense from stock option grants, and costs associated with growth and cost reduction initiatives. Management's view is that these exclusions better represent the underlying solid waste performance.

Key Highlights

  • 1Waste Management, Inc. (WM) announced Q1 2011 financial results via an 8-K filing on April 28, 2011.
  • 2The company held a conference call on the morning of the filing date to discuss the Q1 2011 results.
  • 3WM is using and discussing non-GAAP financial measures in its earnings report and conference call.
  • 4Management believes these non-GAAP measures provide better insight into core solid waste operations.
  • 5Reported Diluted EPS for the quarter ended March 31, 2011, was $0.39.
  • 6Adjusted Diluted EPS, excluding certain items, was $0.48 for the same quarter.
  • 7Adjustments included lower waste-to-energy income, stock option grant expenses, and growth/cost reduction initiative expenses.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report Waste Management, Inc.'s financial results for the first quarter ended March 31, 2011, and to announce related investor communication events like a conference call.

The reported Diluted EPS for the quarter was $0.39. The adjusted Diluted EPS was $0.48. The difference of $0.09 ($0.48 - $0.39) is due to specific adjustments made by management, including lower income from waste-to-energy operations, higher stock option expenses, and costs related to growth and cost reduction initiatives. Management believes these adjustments offer a clearer picture of the company's core solid waste operational performance.

Investors can find more details by accessing the company's website (www.wm.com) for a webcast of the conference call, which discusses these results. The filing also indicates that the press release attached as Exhibit 99.1 contains information on the use of non-GAAP measures and reconciliations to their most comparable GAAP measures.