Earnings release
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FOR IMMEDIATE RELEASE WM Announces Second Quarter Earnings Revenue Growth Exceeds Expectations Driven by Accelerated Volume Recovery Strong Financial Results Position Company to Further Increase 2021 Financial Guidance HOUSTON - July 27 , 2021 - Waste Management , Inc. ( NYSE : WM ) today announced financial results for the quarter ended June 30 , 2021 . Three Months Ended June 30 , 2021 ( in millions , except per share amounts ) Three Months Ended June 30 , 2020 ( in millions , except per share amounts ) As Reported As Adjusted ( a ) As Reported As Adjusted ( a ) Revenue $ 4,476 $ 4,476 $ 3,561 $ 3,561 Income from Operations $ 791 $ 813 $ 527 $ 612 Operating EBITDA ( b ) $ 1,291 $ 1,313 $ 941 $ 1,026 Operating EBITDA Margin 28.8 % 29.3 % 26.4 % 28.8 % Net Income ( c ) $ 351 $ 538 $ 307 $ 372 Diluted EPS $ 0.83 $ 1.27 $ 0.72 $ 0.88 FOR MORE INFORMATION Waste Management Website www.wm.com Analysts Ed Egl 713.265.1656 eegl@wm.com Media Toni Werner corp_comm@wm.com " Our business produced tremendous growth in the second quarter as the economy continued to recover from the pandemic , and we made further progress on our integration of the Advanced Disposal operations , " said Jim Fish , WM's President and Chief Executive Officer . " The acquisition of Advanced Disposal , the return of volumes from early pandemic levels , and our continued focus on cost control all contributed to financial outcomes that exceeded expectations . In the second quarter , as adjusted operating EBITDA grew 28 % , adjusted operating EBITDA margin expanded 50 basis points , and we generated more than $ 1 billion of cash from operations . ( a ) We continue to execute on our pricing programs and efficiently manage our costs as volumes return . " Fish continued , " As a result of our strong performance through the first half of 2021 and our confidence in the continued strength of our business model , we are increasing our full - year revenue , adjusted operating EBITDA , and free cash flow guidance . ( a ) In addition , due to our robust cash generation , we are increasing our expectations for 2021 share repurchases up to our full authorization of $ 1.35 billion . " "