美国废物管理公司（WM）2025年第四季度及全年业绩报告「NYSE」（英文版）（22页）.pdf

1、WM Announces Fourth Quarter and Full-Year 2025 Earnings Focus on Operational Excellence Drives the Companys Best-Ever Operating Expenses as a Percentage of Revenue for the Fourth Quarter and Full Year Robust Operational Performance Led to Cash Flow from Operations Growing More than 12%in 2025 Strong

2、 Growth in Earnings and Cash Flow from Operations Expected to Continue in 2026 HOUSTON Jan.28,2026 WM(NYSE:WM)today announced financial results for the fourth quarter and year ended Dec.31,2025.Three Months Ended Year Ended December 31,2025 December 31,2024 December 31,2025 December 31,2024 (in mill

3、ions,except per share amounts)(in millions,except per share amounts)As Reported As Adjusted(a)As Reported As Adjusted(a)As Reported As Adjusted(a)As Reported As Adjusted(a)Revenue$6,313$6,313$5,893$5,893$25,204$25,204$22,063$22,063 Income from Operations$1,155$1,204$919$1,054$4,308$4,719$4,063$4,296

4、 Operating EBITDA(b)$1,925$1,974$1,571$1,706$7,171$7,582$6,330$6,563 Operating EBITDA Margin 30.5%31.3%26.7%28.9%28.5%30.1%28.7%29.7%Net Income(c)$742$780$598$688$2,708$3,031$2,746$2,916 Diluted EPS$1.83$1.93$1.48$1.70$6.70$7.50$6.81$7.23 “2025 was a year of disciplined execution for WM,”said Jim Fi

5、sh,WMs CEO.“We delivered record performance in operating expenses as a percentage of revenue for both the fourth quarter and the full year,resulting in our best full-year adjusted operating EBITDA margin.(a)Our investments in technology and automation continue to generate meaningful efficiencies,con

6、tributing to structurally enhanced margins and stronger cash generation.We are also building momentum in the strategic growth of our recycling,renewable energy,and healthcare solutions businesses as we position WM as the leading provider of comprehensive environmental solutions.”Fish continued,“As w