Waste Management, Inc. Presents at Credit Suisse Waste & Industrial Services Conference, May-15-2013 . Venue: Boston, Massachusetts, United States.

Waste Management, Inc. announced the declaration of a quarterly cash dividend of $0.365 per share payable June 21, 2013 to stockholders of record on June 7, 2013.

Waste Management, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $3.34 billion compared with $3.30 billion for the same 2012 period. Net income attributable to company for the quarter was $168 million or $0.36 per diluted share, compared with net income of $171 million or $0.37 per diluted share, for the first quarter of 2012. Results in the first quarter of 2013 included approximately $18 million of after-tax costs from a combination of restructuring charges and impairments of investments in unconsolidated entities. Excluding these items, net income would have been $186 million or $0.40 per diluted share, compared to adjusted earnings of $174 million or per diluted share of $0.38 in 2012. During the first quarter, net cash provided by operations improved $102 million, to $577 million from $475 million and capital expenditures decreased $113 million, to $266 million from $379 million, both as compared to the first quarter of 2012. Income from operations was $402 million against $401 million for the same period last year. Income before income taxes was $262 million against $272 million for the comparable period last year. First quarter free cash flow was at $348 million. Revenue improvement was driven by positive yield and acquisitions. The increase in net cash provided by operating activities was primarily related to changes in working capital related to a lower bonus payout. At the beginning of the year, the company gave guidance that 2013 adjusted earnings per diluted share would grow between 4% and 6%, and would range from $2.15 to $2.20 for the full year. With adjusted earnings growing by more than 5% in the first quarter, the company is right on track to meet its goals. The company expects current tax rate to be approximately 35% for the full year. The company expects that it generating between $1.1 billion and $1.2 billion of free cash flow for the year.