Stock Analysis on Net
Stock Analysis on Net

Waste Management Inc. (NYSE:WM)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 15, 2022.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Waste Management Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Operating revenues
Operating costs
Gross profit
Selling, general and administrative
Depreciation and amortization
Restructuring
Gain (loss) from divestitures, asset impairments and unusual items, net
Income from operations
Interest expense, net
Loss on early extinguishment of debt
Equity in net losses of unconsolidated entities
Other, net
Other income (expense)
Income before income taxes
Income tax expense
Consolidated net income
Net (income) loss attributable to noncontrolling interests
Net income attributable to Waste Management, Inc.

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Operating Revenues
Operating revenues demonstrate a generally upward trend from 2017 through 2021, with some fluctuations. The revenues rose from $3,440 million in Q1 2017 to a peak of approximately $4,678 million in Q4 2021. Quarterly variation is evident, but the long-term trajectory indicates expansion in revenues over the analyzed period.
Operating Costs
Operating costs consistently increased over time, beginning at $2,166 million in Q1 2017 and reaching $2,955 million by Q4 2021. This rise in costs corresponds with revenue growth but reflects a steady increase in expenses, possibly due to inflation, operational scale, or increased resource costs.
Gross Profit
Gross profit fluctuated but generally increased, starting at $1,274 million in Q1 2017 and peaking above $1,759 million in Q3 2021 before a slight decrease in Q4. The gross margin appears relatively stable, suggesting that the company maintained effective control over the cost of goods sold in relation to revenue growth.
Selling, General and Administrative Expenses (SG&A)
SG&A expenses show variability within a range of approximately $345 million to $510 million, with a notable increase from 2020 onwards. There is a peak of $510 million in Q4 2020, followed by slight decreases but remaining above earlier period levels, indicating rising overhead costs during recent years.
Depreciation and Amortization
Depreciation and amortization expenses show a steady increasing trend from $328 million in Q1 2017 to around $517 million in Q3 2021, leveling slightly in Q4 2021. This increase may reflect higher capital expenditures and asset base growth over time.
Restructuring
Restructuring costs are generally minor and sporadic throughout the periods, with several quarters showing negligible or no significant restructuring expenses. The occasional negative values represent gains or reversals but remain small in magnitude.
Gain (Loss) from Divestitures, Asset Impairments, and Unusual Items
This category exhibits volatility with both gains and losses across quarters. Notable spikes occur in Q4 2017 (gain of $26 million), Q2 2018 (gain of $39 million), and Q4 2018 (gain of $44 million), contrasted with losses in some quarters of 2019 and 2020. These fluctuations indicate episodic impacts from asset transactions and unusual events affecting earnings.
Income from Operations
Operating income generally trends upward with seasonal fluctuations. It started at $558 million in Q1 2017, peaked at $806 million in Q3 2021, and slightly decreased to $718 million in Q4 2021. This pattern reflects improving operational profitability alongside revenue growth.
Interest Expense, Net
Interest expense remains relatively stable, fluctuating slightly around $90-$110 million each quarter. Small reductions toward the end of the period, down to $83 million in Q4 2021, suggest modest debt management improvements or refinancing effects.
Loss on Early Extinguishment of Debt
Occurrences of losses on early extinguishment of debt appear intermittently, notably in Q4 2019, Q4 2020, and Q4 2021, with significant impacts such as -$220 million in Q4 2020, indicating some sizable debt restructuring or refinancing events.
Equity in Net Losses of Unconsolidated Entities
Equity losses in unconsolidated entities are consistently recorded, with values between -$2 million and -$32 million, generally reflecting ongoing losses contributed by these investments without a clear trend of improvement or deterioration.
Other, Net
This category mostly remains minimal, with occasional small positive or negative values, except for a substantial -$54 million in Q1 2019. The irregularity suggests one-off items with limited impact on overall financial trends.
Other Income (Expense)
Other income and expenses trend negatively overall, with values ranging from -$76 million to -$335 million. Periodic spikes to more negative values, especially Q4 2020 (-$335 million), highlight episodic adverse impacts possibly related to investment or financing activities.
Income Before Income Taxes
Income before taxes fluctuates moderately, starting at $434 million in Q1 2017, reaching highs of over $700 million in several quarters, including Q3 2021. The income before taxes follows a somewhat cyclical but upward pattern, consistent with operating income movements.
Income Tax Expense
Income tax expense generally tracks earnings fluctuations, mostly negative as expected, with some anomalies such as a positive $319 million in Q4 2017. This irregularity might indicate tax adjustments or unusual tax benefits in that quarter.
Consolidated Net Income
Net income broadly reflects underlying operational performance, growing from $297 million in Q1 2017 to peaks around $539 million in Q3 2021. The substantial spike to $903 million in Q4 2017 stands out, likely due to non-recurring factors. Overall, net income shows robust growth with variability tied to operating and non-operating items.
Net Income Attributable to Waste Management, Inc.
This measure aligns closely with consolidated net income, confirming that most net earnings belong to the parent company. The pattern mirrors net income trends with significant gains over the period, reinforcing overall positive profitability development.