2024-07-25 16:33:08 ET
Waste Management, Inc. (WM)
Q2 2024 Earnings Conference Call
July 25, 2024, 10:00 AM ET
Company Participants
Ed Egl - Senior Director, IR
Jim Fish - President and CEO
John Morris - EVP and COO
Devina Rankin - EVP and CFO
Tara Hemmer - SVP and CSO
Conference Call Participants
Tyler Brown - Raymond James
Hilary Leon - Morgan Stanley
Jerry Revich - Goldman Sachs
Noah Kaye - Oppenheimer
Bryan Burgmeier - Citi
Kevin Chen - CIBC
James Schumm - TD Cowen
Stephanie Moore - Jefferies
Brian Butler - Stifel
Sabahat Khan - RBC
Presentation
Operator
Good day, and thank you for standing by. Welcome to WM's Second Quarter 2024 Earnings Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator
Instructions]. Please note that today's conference is being recorded.
I will now hand the conference over to speaker host, Ed Egl, Vice President of Investor Relations. Please go ahead.
Ed Egl
Thank you, Livia. Good morning, everyone, and thank you for joining us for our second quarter 2024 earnings conference call. With me this morning are Jim Fish, President and Chief Executive Officer, John Morris, Executive Vice President and Chief Operating Officer, and Devina Rankin, Executive Vice President and Chief Financial Officer.
You will hear prepared comments from each of them today. Jim will cover high-level financials and provide a strategic update. John will cover an operating overview, and Devina will cover the details of the financials.
Before we get started, please note that we have filed a Form 8K that includes the earnings press release and is available on our website at www.wm.com. In addition, we have published a supplemental presentation with additional information elaborating on the strategic rationale for the company's planned acquisition of Stericycle. The supplemental presentation is available on our website at investors.wm.com and as an exhibit to the Form 8K. The Form 8K, the press release, and the schedule for the press release include important information. During the call, you will hear forward-looking statements, which are based on current expectations, projections, or opinions about future periods. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
Some of these risks and uncertainties are discussed in today's press release and in our filings with the SEC, including our most recent Form 10K and Form 10Qs. John will discuss our results in the areas of yield and volume, which, unless stated otherwise, are more specifically references to internal revenue growth or IRG from yield or volume. During the call, Jim, John, and Devina will discuss operating EBITDA, which is income from operations before depreciation and amortization.
Any comparisons, unless otherwise stated, will be with the prior year. Net income, EPS, income from operations and margin, operating EBITDA and margin, and SG&A expense and margin results have been adjusted to enhance comparability by excluding certain items that management believes do not reflect our fundamental business performance or results of operations.
These adjusted measures, in addition to free cash flow or non-GAAP measures, please refer to the earnings press release and tables, which can be found on the company's website at www.wm.com, for reconciliations to the most comparable GAAP measures and additional information about our use of non-GAAP measures and non-GAAP projections. This call is being recorded and will be available 24 hours a day, beginning approximately 1 p.m. Eastern time today. To hear a replay of the call, access the WM website at www.investors.wm.com. Time-sensitive information provided during today's call, which is occurring on July 25, 2024, may no longer be accurate at the time of a replay. Any redistribution, retransmission, or rebroadcast of this call in any form without the express written consent of WM is prohibited....
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Waste Management, Inc. (WM) Q2 2024 Earnings Call Transcript