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    February 7, 2025

    Wittbecker on Aluminum: Thoughts on Waste Management's earnings

    Written by Greg Wittbecker

    Waste Management (WM)released its Q4’24 and full-year 2024 earnings on Jan. 29, when it reported adjusted EBITDA up over 10% for the year at $6.56 billion and reported a 30% margin for the first time in history on its legacy business, which comprises collection, disposal, and recycling.

    Collection and disposal continue to be the cash cow for WM, with this segment generating net operating revenue of $19.7 billion or 89.3% of revenue. Recycling processing and sales contributed $1.6 billion or 7.3% of total revenue.

    Greg Wittbecker

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    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.