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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): April 5, 2023

 

Waste Management, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   1-12154   73-1309529
(State or Other Jurisdiction
of Incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

800 Capitol Street, Suite 3000, Houston, Texas   77002
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone number, including area code: (713) 512-6200

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.01 par value   WM   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

 

Item 7.01.Regulation FD Disclosure.

 
       On April 5, 2023, Waste Management, Inc. (the “Company”) issued a press release providing additional information in connection with the previously announced virtual Sustainability Investor Day, with presentations to be focused on the Company’s investments and growth opportunities in its renewable energy and recycling businesses. The press release and the Sustainability Investor Day webcast may contain material information that has not been publicly disseminated before today. The Sustainability Investor Day webcast begins this morning at 9:00 am Central Time and will include a question-and-answer session. Participants can register and join the event by visiting investors.wm.com and selecting “Events & Presentations” from the website menu. A replay of the webcast will be available at the same location.

 

A copy of the press release and the Sustainability Investor Day presentation materials are furnished with this Form 8-K as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference.

 

Item 9.01.Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit Index

 

Exhibit
Number 
  Description
99.1   Press Release dated April 5, 2023
     
99.2   Sustainability Investor Day Presentation Materials dated April 5, 2023
     
104   Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

  WASTE MANAGEMENT, INC.
   
Date: April 5, 2023 By: /s/ Charles C. Boettcher
    Charles C. Boettcher
    Executive Vice President, Corporate Development and Chief Legal Officer

 

 

 

 

EXHIBIT 99.1

 

For Immediate Release

 

WM Hosts 2023 Virtual Sustainability Investor Day

 

  

FOR MORE INFORMATION

 

WM

 

Web site

www.wm.com

 

Investors

Ed Egl

713.265.1656

eegl@wm.com

 

Media

Toni Werner

media@wm.com

 

Presentation to Highlight Expected Growth in the Company’s Renewable Energy and Recycling Businesses

 

Houston — April 5, 2023 — WM (NYSE: WM) will host a virtual Sustainability Investor Day today, beginning at 10:00 a.m. EDT to discuss the Company’s planned investments in its renewable energy and recycling businesses and how they support WM’s compelling investment thesis. The event will feature a presentation from members of the senior leadership team and business leaders from WM’s renewable energy and recycling businesses, followed by a question-and-answer session.

 

“Today we will be sharing more about the next phase of WM’s growth, which is strongly linked with our previously announced investments in renewable energy and recycling,” said Jim Fish, President and Chief Executive Officer of WM. “Our team has delivered excellent results over the past several years, and we are pleased to lay out a plan that builds upon this success, which we expect to nearly double WM’s 2019 adjusted operating EBITDA and free cash flow by 2027.”(a)

 

The presentation will highlight WM’s unique position to drive value from its renewable energy and recycling businesses for customers, employees, shareholders, and the environment.

 

“Our sustainability-related investments provide a growth engine for WM, as they play a pivotal role in building solutions for our customers while also unlocking significant potential value for our shareholders,” said Tara Hemmer, SVP and Chief Sustainability Officer of WM. “Our investments are also expected to deliver significant environmental benefits.”

 

Event Details

 

The presentation will begin promptly at 10:00 a.m. EDT, and the event is expected to conclude by 12:00 p.m. Participants can register and join the event by visiting investors.wm.com and selecting “Events & Presentations” from the website menu. A replay of the webcast will be available at the same location. Participants may pre-register at any time. Registered participants may submit written questions during the presentation, and the Company will moderate a question-and-answer session at the end of the presentation. The presentation materials are also available at investors.wm.com.

 

(a)   Adjusted operating EBTIDA and free cash flow are non-GAAP measures. See page 3 of the Sustainability Investor Day presentation materials available at investors.wm.com for management’s definitions of these measures and additional information about use of non-GAAP measures and projections. Also see the Appendix to the Sustainability Investor Day presentation materials for a reconciliation of historical results to the most comparable GAAP measure.

 

 

 

 

 

about WM

 

WM (WM.com) is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling, and disposal services to millions of residential, commercial, industrial, and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics, and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials, and is the leader in beneficial use of landfill gas, with a growing network of renewable natural gas plants and the most landfill gas-to-electricity plants in North America. WM's fleet includes nearly 11,000 natural gas trucks – the largest heavy-duty natural gas truck fleet of its kind in North America. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.

 

FORWARD-LOOKING STATEMENTS

 

The Company, from time to time, provides estimates of financial and other data, comments on expectations relating to future periods and makes statements of opinion, view or belief about current and future events. This press release contains forward-looking statements regarding future investments, growth, benefits and results related to our renewable energy and recycling businesses, including projected future adjusted operating EBITDA and free cash flow. You should view these statements with caution. They are based on the facts and circumstances known to the Company as of the date the statements are made. See page 3 of the Sustainability Investor Day presentation materials available at investors.wm.com for information on risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements. Please also see the Company’s filings with the SEC, including Part I, Item 1A of the Company’s most recently filed Annual Report on Form 10-K for additional information regarding risks and uncertainties applicable to our business. The Company assumes no obligation to update any forward-looking statement, including financial projections, whether as a result of future events, circumstances or developments or otherwise. 

 

###

 

 

 

Exhibit 99.2
 

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