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WM — Jan 29, 2025 release

Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-25-007338
Open on SEC.gov ↗
Showing in the filing
Recycling Automation and Growth Projects Capital Expenditures
“$180 - $200”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 79
Renewable natural gas overall production gro… for FY2025
“Expected to More Than Double from 2024 to 2025”
Healthcare Solutions run-rate synergies for FY2027
“$250 million”
Rollover from solid waste acquisitions - rev… for FY2025
“$150 million”
Revenue from rollover from solid waste acqui…
“$150 million”
Revenue for FY2025
“$25,550 - $25,800”
Revenue - projected year-over-year change at… for FY2025
“Growth of 16.4%, including 5.7% organic growth and 10.7% acquisition growth”
Adjusted operating EBITDA for FY2025
“$7,450 - $7,650”
Adjusted operating EBITDA - projected year-o… for FY2025
“Growth of 15.0%”
Adjusted operating EBITDA margin for FY2025
“29.2%-29.7%”
Adjusted operating EBITDA margin - projected… for FY2025
“WM Legacy Business expected to achieve 30.7% and WM Healthcare Solutions expected to achieve 17.6%”
Capital to support the business for FY2025
“$2,575 – $2,625”
Capital to support the business - projected … for FY2025
“Includes a $140 million increase from WM Legacy Business and a $180 million increase from WM Healthcare Solutions”
Total Sustainability Growth Capital for FY2025
“$600 -$650”
Free cash flow for FY2025
“$2,675 - $2,775”
Projected Free Cash Flow Reconciliation - Fr… for FY2024
“$2,775”
Free cash flow - projected year-over-year ch… for FY2025
“Growth of 17.6%”
Adjusted operating EBITDA growth at midpoint… for FY2025
“500”
Adjusted operating EBITDA growth at midpoint… for FY2025
“90”
Adjusted operating EBITDA growth at midpoint… for FY2025
“60”
Adjusted operating EBITDA growth at midpoint… for FY2025
“400”
Adjusted operating EBITDA growth at midpoint… for FY2025
“(63)”
Adjusted Operating EBITDA Midpoint for FY2025
“$7,550”
Collection and Disposal core price for FY2025
“between 5.8% and 6.2%”
Core price for FY2025
“between 5.8% and 6.2%”
Collection and Disposal yield for FY2025
“between 4.0% and 4.2%”
Yield
“between 4.0% and 4.2%”
Collection and Disposal volumes for FY2025
“between 0.25% and 0.75%”
Volumes for FY2025
“between 0.25% and 0.75%”
Projected Free Cash Flow Reconciliation - Pr… for FY2024
“$150”
Rollover from solid waste acquisitions - adj… for FY2025
“$35 million”
Adjusted operating EBITDA from rollover from…
“$35 million”
Blended average single-stream recycled commo… for FY2025
“approximately $85 per ton”
Renewable natural gas contracted price (abou… for FY2025
“$28.80 per MMBtu”
WM Healthcare Solutions revenue growth (befo… for FY2025
“about 9%”
Healthcare Solutions synergies for FY2025
“up to $100 million”
Stericycle integration synergies for FY2025
“up to $100 million”
Synergies for FY2025
“up to $100 million”
Projected Free Cash Flow Reconciliation - Pr… for FY2024
“$100”
Stericycle acquisition synergies (run-rate) for FY2027
“$250 million”
Synergies from the acquisition for FY2027
“$250 million”
Investment in solid waste acquisitions for FY2025
“$100 to $200 million”
Estimated annual dividends paid to sharehold… for FY2025
“$1.3 billion”
Annual dividend increase for FY2025
“$0.30 per share”
Annual dividend per share for FY2025
“$3.30”
Share repurchase program status for FY2025
“temporarily suspended”
Leverage for FY2025
“approximately 3.1 times”
Leverage ratio (year-end) for FY2025
“approximately 3.1 times”
Renewable natural gas project payback period for the long term
“about three years”
Recycling assets payback period for the long term
“about six years”
Recycling Automation and Growth Projects Cap… for FY2025
“$180 - $200”
Recycling Automation and Growth Projects Cap… for FY2026
“$65-$85”
Renewable Natural Gas Growth Projects Capita… for FY2025
“$420 - $450”
Renewable Natural Gas Growth Projects Capita… for FY2026
“$55-$85”
Total Sustainability Growth Capital for FY2026
“$120 - $170”
Recycling Automation and Growth Projects Ope… for FY2025
“$120 - $130”
Recycling Automation and Growth Projects Ope… for FY2026
“$250 - $260”
Recycling Automation and Growth Projects Ope… for FY2027
“$290 - $300”
Renewable Natural Gas Growth Projects Operat… for FY2025
“$150 - $160”
Renewable Natural Gas Growth Projects Operat… for FY2026
“$350 - $380”
Renewable Natural Gas Growth Projects Operat… for FY2027
“$470 - $500”
Sustainability Growth Operating EBITDA for FY2025
“$270 - $290”
Sustainability Growth Operating EBITDA for FY2026
“$600 - $640”
Sustainability Growth Operating EBITDA for FY2027
“$760 - $800”
Blended average renewable natural gas value … for FY2025
“$29.50 per MMBtu”
Single-stream recycled commodity price assum… for FY2026
“$125 per ton”
Blended average renewable natural gas value … for FY2026
“$26 per MMBtu”
Sustainability growth project adjusted opera… for FY2025
“approximately $280 million”
Sustainability growth project adjusted opera… for FY2025
“about $190 million”
Renewable natural gas production volume for FY2025
“between 11 and 12 million MMBtu”
Renewable natural gas sales volume for FY2025
“between 10 and 11 million MMBtu”
RNG market-rate Renewable Fuel Standard cred… for FY2025
“$2.40”
RNG market-rate natural gas price assumption for FY2025
“$2.20 per MMBtu”
Expected total value of renewable natural gas for FY2025
“$30.25 per MMBtu”
RNG market-rate total value assumption for FY2025
“$30.25 per MMBtu”
Projected Free Cash Flow Reconciliation - Ne… for FY2024
“$5,750”
Projected Free Cash Flow Reconciliation - Ne… for FY2024
“$5,900”
Projected Free Cash Flow Reconciliation - Fr… for FY2024
“$3,275”
Projected Free Cash Flow Reconciliation - Fr… for FY2024
“$3,425”
Projected Free Cash Flow Reconciliation - Fr… for FY2024
“$2,675”
Exhibit 99.1 · the passage around this item
… earlier in the release
The Company is providing an updated outlook for the capital expenditures and total adjusted operating EBITDA contributions from the projects for the next three years.   (in millions) 2024 2025 2026 2027 Capital Expenditures         Recycling Automation and Growth Projects $443 $180 - $200 $65-$85 - Renewable Natural Gas Growth Projects $507 $420 - $450 $55-$85 -        Total Sustainability Growth Capital $950 $600 -$650 $120 - $170 - Operating EBITDA         Recycling Automation and Growth Projects $53 $120 - $130 $250 - $260 $290 - $300 Renewable Natural Gas Growth Projects $39 $150 - $160 $350 - $380 $470 - $500      Sustainability Growth Operating EBITDA (e) $92 $270 - $290 $600 - $640 $760 - $800 2025 projections are based on commodity price assumptions consistent with the Company’s 2025 outlook for a single-stream recycled commodity price of $85 per ton and for a blended average renewable natural gas value of $29.50 per MMBtu. 2026 and 2027 projections are based on a single-stream recycled commodity price of $125 per ton and a blended average renewable natural gas value of $26 per MMBtu, which were the commodity prices used to substantiate our investment case and project earnings. Commodity price variability can impact actual results. WM is planning to host an investor day in New York City on June 24, 2025, to discuss the Company’s long-term vision and g
later in the release …
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other guidance in this release
Text is the filed exhibit, verbatim.