Waste Management Inc. has changed its name. President and CEO Jim Fish announced the name change after running with the Waste Management name for decades.
“Going forward, Waste Management will be known as WM,” Fish said of the Houston-based waste company.
How will WM or Waste Management make ‘massive’ investments?
WM says massive investments have allowed landfill gas to be collected, cleaned, and distributed. This is part of the company’s effort to bolster natural gas use among its vehicle fleet.
WM operates hundreds of facilities, including landfills, across the U.S. The company is involved in more than 100 landfill gas-to-electricity projects. In fact, more than 50% of their truck fleet is powered by the natural gas created from landfills.
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How much money is WM making?
WM executives called the Houston-based waste company’s performance as ‘strong’.
“In 2021, we delivered on each of our strategic priorities, including successfully integrating the acquisition of Advanced Disposal, driving disciplined organic revenue growth, advancing technology investments focused on customer retention and growth and cultivating our people-first culture,” Fish said at the time in early-February.
The fiscal year for WM ended on December 31, 2021.
WM achieved core price in the fourth quarter of 2021 of 5.1 percent compared with 3.2 percent in the fourth quarter of 2020, and for the full year, core price was 4.8 percent in 2021 compared with 2.9 percent in 2020.
The company’s collection and disposal yield was 3.7 percent in the fourth quarter of 2021 compared with 2.3 percent in the fourth quarter of 2020, and for the full year, collection and disposal yield was 3.5 percent compared with 2.2 percent in 2020. WM’s company volumes increased 2.8 percent in the fourth quarter of 2021 compared with a decline of 2.6 percent in the fourth quarter of 2020, and for the full year, total company volumes increased 2.8 percent in 2021 compared with a decline of 4.5 percent in 2020.
What does WM expect for 2022 and beyond?
For the 2022 fiscal year, WM expects total company revenue growth to be 5.8 percent to 6.2 percent, which includes organic revenue growth from the collection and disposal business of about 6 percent.
“As we look ahead to 2022, we remain committed to continuing pricing excellence, advancing technology investments to differentiate the company, automating our processes to reduce our cost to serve, providing the best workplace, and leveraging our sustainability platform for growth,” Fish continued. “We have a strong outlook for the year ahead, with expected collection and disposal revenue growth of about 6 percent, driven by continued execution on our disciplined pricing programs.”
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