Waste Management (WM)
Q2 2012 Earnings Call
July 26, 2012 10:00 am ET
David P. Steiner - Chief Executive Officer, President and Director
Steven C. Preston - Principal Financial Officer and Executive Vice President of Finance, Recycling & Energy Services
James C. Fish - Senior Vice President of Eastern Group Operations
Vance H. Edelson - Morgan Stanley, Research Division
Albert Leo Kaschalk - Wedbush Securities Inc., Research Division
William H. Fisher - Raymond James & Associates, Inc., Research Division
Hamzah Mazari - Crédit Suisse AG, Research Division
Scott J. Levine - JP Morgan Chase & Co, Research Division
Michael E. Hoffman - Wunderlich Securities Inc., Research Division
Joseph Ritchie - Goldman Sachs Group Inc., Research Division
David Warner - First Analysis Corporation
Good morning. My name is Brandi, and I will be your conference operator today. At this time, I would like to welcome everyone to the Waste Management Second Quarter 2012 Earnings Release Conference Call. [Operator Instructions] At this time, I would like to turn the conference over to Ed Egl, Director, Investor Relations. Sir, you may begin.
Thank you, Brandi. Good morning, everyone, and thank you for joining us for our Second Quarter 2012 Earnings Conference Call. With me this morning are David Steiner, Chief Executive Officer; Steve Preston, Executive Vice President of Finance, Recycling and Energy Services; Jim Fish, newly appointed Executive Vice President and Chief Financial Officer; and Jim Trevathan, Executive Vice President and Chief Operating Officer. David will start things off with a summary of the financial results for the quarter. Steve will cover our revenue growth, including price and volume trends, operating costs and the financial statements. David and Jim will then discuss the restructuring plan announced today, we'll conclude with questions and answers. During their statements, any comparisons, unless otherwise stated, will be with the second quarter of 2011.