WM Highlights M&A Ramp-Up, Investments in Recycling and RNG
WM achieved a 30% quarterly operating EBITDA margin for the first time, the company reported during its Thursday earnings call. It’s a milestone CEO Jim Fish touted as a result of ongoing technology investments, pricing, turnover reductions and other cost savings measures. Adjusted operating earnings before interest, taxes, depreciation and amortization increased by 10.3% year over year.
WM spent about $750 million on solid waste acquisitions through July. Fish highlighted the recent Winters Bros. Waste Systems acquisition as an important move into the Long Island, New York, region, while WM also carried out smaller tuck-in deals in its existing footprint in Florida, North Carolina, and Arizona, he said.