WM (NYSE: WM) has announced the upcoming retirement of Devina Rankin, the executive vice president and chief financial officer, with her successor being David Reed, the current vice president and business partner for WM's west tier operations. Rankin has contributed to WM's successes over the years, collaborating on delivering impressive financial results and evolving the company's strategy and culture. Reed, with extensive finance and leadership experience, is expected to scale his impact as WM focuses on long-term growth.
In terms of financial performance, WM's second-quarter revenue for 2025 increased by 8.3% to reach $4.47 billion compared to the same period in 2024. The company's net income also saw a significant rise, reaching $482 million, a 17.5% increase from the previous year. Furthermore, WM's operating earnings before interest, taxes, depreciation, and amortization (EBITDA) margin expanded to 29.6% in the second quarter of 2025, reflecting a 100-basis point improvement.
Additionally, WM's cash provided by operating activities for the first half of 2025 amounted to $1.52 billion, a notable increase of 13.4% from the first half of 2024. The company's free cash flow for the same period also surged to $770 million, demonstrating a substantial 25.6% increase year-over-year.
Moreover, WM's commitment to sustainability is evident in its environmental solutions and collaborations with customers to help them pursue their sustainability goals. The company has the largest disposal network and collection fleet in North America, positioning it as a leader in beneficial use of landfill gas and renewable energy.
As WM undergoes this leadership transition and continues to drive growth, investors and stakeholders will be closely monitoring the company's financial performance and strategic initiatives under David Reed's leadership. The market has reacted to these announcements by moving the company's shares -1.13% to a price of $227.02. If you want to know more, read the company's complete 8-K report here.
