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WM Update 8-31-2011 - Waste Management Inc(WM Pitch Update...

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Waste Management Inc. (WM) Pitch Update 9/1/11 Recent Developments Second Quarter Earnings - Announced financial results for its second quarter ended June 30, 2011. - Revenues for the second quarter of 2011 were $3.35 billion compared with $3.16 billion for the same 2010 period, an increase of 6.0%. - Net income for the quarter was $237 million, or $0.50 per diluted share, compared with $246 million, or $0.51 per diluted share, for the second quarter of 2010. - Full year adjusted EPS revised downward to between $2.14 and $2.18, a decrease of approximately 5% Acquired Oakleaf Global Holdings - Waste Management announced the acquisition of smaller garbage-collection company, Oakleaf Global Holdings, for $425 million - Oakleaf is a privately-owned waste services company providing outsourced waste and recycling services through a nationwide network of third-party haulers - Oakleaf generated approximately $580 million in revenues in 2010 - Oakleaf, with $580 million in revenue last year, is about one-sixth the size of Waste Management.
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