8-KEarnings & ResultsLeadership ChangesExhibits & Filings

WASTE MANAGEMENT INC 8-K Report, Financial Results (Oct 26, 2016)

Filed October 26, 2016For Securities:WM

Summary

Waste Management, Inc. (WM) filed a Form 8-K on October 26, 2016, primarily to announce its third-quarter 2016 financial results and a change in its Chief Accounting Officer. The press release detailing the Q3 2016 results, which is attached as Exhibit 99.1, is the main focus for investors seeking operational and financial performance updates. Additionally, the company announced the appointment of Darren K. Shade as the new Vice President and Chief Accounting Officer, succeeding Don P. Carpenter who is retiring after facilitating a smooth transition. Investors should refer to the attached press release for detailed financial performance metrics, including any non-GAAP measures and their reconciliations to GAAP. The leadership change at the Chief Accounting Officer position is also noteworthy, ensuring continuity and experienced financial oversight. The filing indicates that detailed Q3 2016 results and management's discussion will be available via a conference call and webcast on the same day.

Key Highlights

  • 1Waste Management (WM) announced its third-quarter 2016 financial results via a press release filed as Exhibit 99.1.
  • 2The company is hosting a conference call on October 26, 2016, to discuss the Q3 2016 financial results.
  • 3Darren K. Shade has been appointed as the new Vice President and Chief Accounting Officer.
  • 4Mr. Shade succeeds Don P. Carpenter, who is retiring after the filing of the Q3 2016 Form 10-Q.
  • 5Mr. Carpenter will remain with the company into the fourth quarter to ensure an orderly transition.
  • 6Mr. Shade brings prior experience from Phillips 66 Company and Ernst & Young LLP.

Frequently Asked Questions

The 8-K filing refers to a press release (Exhibit 99.1) for the detailed Q3 2016 financial results. Investors should consult this press release for specific revenue, earnings, and other key financial performance metrics.

Darren K. Shade has been appointed as the new Vice President and Chief Accounting Officer. He joined WM in July 2016 and previously held positions at Phillips 66 Company and Ernst & Young LLP, where he worked as a Senior Manager in Assurance.

Don P. Carpenter, the outgoing Chief Accounting Officer, is retiring. Mr. Shade's appointment, effective after the Q3 10-Q filing, signifies a leadership transition in financial reporting oversight. Mr. Carpenter will assist in ensuring a smooth handover, which is positive for operational continuity.

More detailed information will be available through the conference call and webcast scheduled for October 26, 2016, at 9:00 a.m. Central Time, and through the press release filed as Exhibit 99.1 to this 8-K.