WM Reports Strong Q4 and 2024 Earnings Following 10% Growth in Legacy BusinessWM Reports Strong Q4 and 2024 Earnings Following 10% Growth in Legacy Business

WM (NYSE: WM) reported strong fourth-quarter and full-year 2024 earnings, with total revenue reaching $22.5 billion, a 10 percent increase from 2023, and net income rising to $3.2 billion. CEO Jim Fish attributed the growth to disciplined pricing, operational efficiencies, and strategic investments in sustainability and technology.

Waste360 Staff, Staff

January 30, 2025

2 Min Read
WM truck
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WM (NYSE: WM) reported positive financial results for Q4 and full-year 2024, citing automation, robust M&A activity and disciplined pricing strategies, among other things.

The company's legacy business saw adjusted operating EBITDA growth exceeding 10 percent and reaching a 30 percent margin for the first time in the company's history.

WM President and CEO, Jim Fish, said the company's s focus in various areas has been instrumental in achieving these results.

“The WM team achieved another year of exceptional results by continuously improving our core business, expanding our sustainability platforms, and adding medical waste and secure information destruction solutions for our customers,” he commented.WM reported total revenue of $5.8 billion in Q4, 2024, up from $5.2 billion, or 6 percent, year over year (YOY). Operating income rose to $1.2 billion, up from $1.1 billion in Q3 2023.

Merger and acquisitions continued to drive growth for WM. The company completed the $7.2 billion purchase of Stericycle and invested another $800 million in tuck-in acquisitions in 2024. Synergies achieved from the Stericycle deal are expected to reach $250 million.

WM also completed investments in various sustainability growth projects, including five renewable natural gas facilities and 12 recycling automation and growth projects. Seven RNG facilities out of the 20 in the works are now in operation.

Looking ahead, WM plans to continue its investments in recycling and renewable energy projects, aiming to progress its sustainability initiatives and drive long-term growth.

"Our outstanding performance in 2024 underscores our dedication to excellence, sustainability, and innovation," Fish concluded. "Through the hard work of our team, we’ve achieved significant growth and are set for continued success. In 2025, we are focused on advancing the growth of our solid waste and sustainability businesses while also optimizing and growing the WM Healthcare Solutions business, which further strengthens our capabilities as the largest environmental services provider in North America. With a solid foundation and a clear vision, we are confident WM is positioned to achieve our targets for the year.”

Q4 2024 Highlights:
Revenue:  $5.8 billion, up from $5.2 billion
Operating Income: $1.2 billion, up from $1.1 billion
Net Income: $800 million, up from $760 million

Full Year 2024 Highlights:
Revenue: $22.5 billion
Operating Income: $4.5 billion, up from $3.8 billion
Net Income: $3.2 billion, up from $2.5 billion
Operating EBITDA: $6.5 billion
Free cash flow: $2.32 billion
2025 Outlook:
Revenue: $25.5 billion to $25.8 billion
Operating EBITDA: $7.45 billion to $7.65 billion

Free cash flow: $2.675 billion to $2.775 billion

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