Waste Management, Inc.: Mixed — EPS $2.15, Revenue $6.85B
Mixed ResultQ3 2026 · After-market
Did Waste Management, Inc. (WM) beat earnings today?
It was a mixed report for Q3 2026 — Waste Management, Inc. (WM) beat on EPS but missed on revenue.
Earnings Per Share-1.38% surprise
$2.15Actual
Expected: $2.18
vs. year ago +8.6%
Total Revenue+0.53% surprise
$6.85BActual
Expected: $6.81B
vs. year ago +6.3%
Released Oct 27 · 4:30 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $6.85B | $6.44B | +6.3% |
| Revenue detail — reported lines | |||
| └─Commercial | $1.49B | $1.42B | +5.3% |
| └─Industrial | $843.00M | $808.00M | +4.3% |
| └─Residential | $926.00M | $884.00M | +4.8% |
| └─Other collection | $878.00M | $819.00M | +7.2% |
| └─Total collection | $4.14B | $3.93B | +5.4% |
| └─Landfill | $1.02B | $995.00M | +2.3% |
| └─Transfer | $420.00M | $396.00M | +6.1% |
| └─Total Collection and Disposal | $5.58B | $5.32B | +4.8% |
| └─Recycling Processing and Sales | $441.00M | $372.00M | +18.5% |
| └─Renewable Energy | $167.00M | $115.00M | +45.2% |
| └─Healthcare Solutions | $651.00M | $628.00M | +3.7% |
| └─Corporate and Other | $8.00M | $7.00M | +14.3% |
| Net Income | $820.00M | $603.00M | +36.0% |
| GAAP Basic EPS | $2.06 | $1.50 | +37.3% |
| GAAP Diluted EPS | $2.05 | $1.49 | +37.6% |
| Adjusted Diluted EPS | $2.15 | $1.98 | +8.6% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Revenue | — | $26.275B-$26.475B (high end) |
| Adjusted Operating EBITDA | — | $8.15B-$8.25B |
| Free Cash Flow | — | $3.75B-$3.85B (high end) |
| Share Repurchases | — | $2B |
Business Highlights
- ➤Began operations at a new renewable natural gas facility in New York.
- ➤Completed its eighteenth new renewable natural gas facility since 2022.
- ➤Continued intentional shedding of lower-margin residential business.
- ➤Managed commercial declines tied largely to prior national account broker losses.
- ➤Returned $957M to shareholders through repurchases and cash dividends.
- ➤Repurchased $580M of shares during the quarter.
- ➤Healthcare Solutions captured synergies through effective cost management.
- ➤Recycling and renewable energy volumes benefited from completed growth projects.
Management Commentary
Jim Fish, CEO
“WM delivered another quarter of solid operating and financial performance, in line with our expectations, underscoring the consistent execution of our strategy. Adjusted operating EBITDA increased 5.8% in the third quarter driven by strong price-to-cost spread in Collection and Disposal and growing contributions from our healthcare and sustainability businesses. Notably, Healthcare Solutions revenue grew 3.7% in the quarter and operating EBITDA increased more than 30%, driven by effective cost management, synergy capture, and pricing growth. Overall, our results reflect the earnings power of our diversified business and our ability to consistently create value for shareholders.”
Jim Fish, CEO
“The quality of our earnings is evident in the strength of our cash flow generation. Net cash flow from operations increased 12% through the first nine months of the year, reflecting disciplined operational execution and continued strong returns on investments that are improving productivity, enhancing service and supporting sustainable long-term growth. We are affirming our 2026 guidance ranges, as we remain on track to meet our financial objectives.”