8-KEarnings & ResultsExhibits & Filings

WASTE MANAGEMENT INC 8-K Report, Financial Results (Oct 31, 2012)

Filed October 31, 2012For Securities:WM

Summary

Waste Management, Inc. (WM) filed an 8-K on October 31, 2012, reporting its financial results for the quarter ended September 30, 2012. The company announced its third-quarter earnings via a press release, which is attached as Exhibit 99.1. The filing highlights the company's use of non-GAAP financial measures to provide investors with a clearer view of operational performance, excluding items management deems not representative of ongoing results. Key financial metrics discussed include adjusted operating expenses and adjusted SG&A expenses, with management emphasizing improvements in these areas year-over-year. The company also noted the inclusion of Oakleaf operations in its comparable reporting for both periods to ensure a consistent basis for comparison, despite prior adjustments made in the third quarter of 2011. Investors are directed to the press release and the company's website for a full discussion and reconciliation of these non-GAAP measures.

Key Highlights

  • 1Waste Management (WM) reported its Q3 2012 financial results via an 8-K filing on October 31, 2012.
  • 2The filing includes a press release with detailed Q3 2012 financial results, attached as Exhibit 99.1.
  • 3The company utilizes and discusses non-GAAP financial measures, such as adjusted operating expenses and adjusted SG&A expenses, to present performance.
  • 4Adjusted SG&A expenses improved significantly by $48 million compared to Q3 2011.
  • 5Adjusted SG&A expenses as a percentage of revenue improved by 120 basis points year-over-year.
  • 6The company is holding a conference call to discuss these results and non-GAAP measures.
  • 7Reconciliations of non-GAAP measures to their most comparable GAAP measures are provided in the press release and further detailed in the 8-K.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Waste Management's financial results for the third quarter ended September 30, 2012, and to provide investors with detailed information through an attached press release (Exhibit 99.1) and management's discussion during a conference call.

The key non-GAAP financial measures discussed are adjusted operating expenses, adjusted operating expenses as a percent of revenues, adjusted SG&A expenses, and adjusted SG&A expenses as a percent of revenues. Management uses these measures to provide a clearer view of the company's operational performance by excluding certain items.

Adjusted SG&A expenses showed significant improvement, decreasing by $48 million compared to the third quarter of 2011. As a percentage of revenues, adjusted SG&A expenses improved by 120 basis points.

Investors can find more detailed financial information, including reconciliations of non-GAAP measures to their most comparable GAAP measures, in the press release attached as Exhibit 99.1 to this 8-K filing, as well as on Waste Management's website (www.wm.com).