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Waste Management Inc WM

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Morningstar’s Analysis

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Waste Management Returns to Growth As Its End Markets Recover; More ADS Synergies To Come in 2021

Analyst Note

| Brian Bernard, CFA, CPA |

2020 was an eventful year for Waste Management. The wide-moat-rated firm had to navigate through a difficult operating environment amid the pandemic while also completing its $4.6 billion acquisition of Advanced Disposal Services, which closed on Oct. 30. After two challenging quarters, Waste Management once again achieved organic revenue growth, with total average yield of 3.1% more than offsetting a 2.6% volume decline. The ADS acquisition added an additional 5.3% of growth, and total fourth-quarter revenue increased 5.7% year over year. Full-year 2020 revenue was down 1.5% compared with the prior year.

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Company Profile

Business Description

Waste Management ranks as the largest integrated provider of traditional solid waste services in the United States, operating approximately 268 active landfills and about 350 transfer stations (includes acquired Advanced Disposal landfills and transfer stations). The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.

Contact
1001 Fannin Street
Houston, TX, 77002
T +1 713 512-6200
Sector Industrials
Industry Waste Management
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Slow Growth
Employees 48,250

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