Waste Management (WM)
NYSE:WM
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.99Last Year’s EPS
1.92Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong financial and operational execution: mid-single-digit operating EBITDA growth, robust cash generation (free cash flow nearly doubled to $920M), effective pricing and margin expansion in collection & disposal, meaningful sustainability and renewable natural gas progress, and notable improvement in health care solutions' profitability and receivables. Offsetting headwinds included softer volumes driven by extreme winter weather and the absence of prior-year wildfire volumes, commodity price pressure in recycling, elevated corporate/technology and compensation costs, and some timing/interconnect risks for RNG projects. On balance, the company presented multiple durable operational improvements and strong cash returns to shareholders while acknowledging manageable near-term volume and timing challenges.Company Guidance
Overall Operating EBITDA Growth
Operating EBITDA grew nearly 6% year-over-year in Q1 2026, driven by strong performance across collection & disposal, sustainability, and health care solutions.
Collection & Disposal Strength
Collection and disposal operating EBITDA increased ~6.4% year-over-year with margin expansion of ~110 basis points; core price was 6.3% and yield 3.9%, with MSW yield at 6.9% and residential yield at 6.3%.
Robust Cash Generation and Capital Returns
Operating cash flow was $1.5 billion (up nearly $300 million YoY) and first-quarter free cash flow nearly doubled to $920 million; returned approximately $730 million to shareholders in Q1 (about $385 million dividends and $344 million share repurchases).
Sustainability Businesses Delivering
Renewable energy operating EBITDA more than doubled in the quarter following completion of seven new RNG facilities since 2025; recycling operating EBITDA grew 18% despite single-stream commodity pricing declining 27% and processed 9% more volume.
Health Care Solutions Progress
Health care solutions operating EBITDA rose nearly 12% in Q1, SG&A declined roughly 20% YoY, accounts receivable improvements (DSO down 14 days) and past-due receivables down ~two-thirds; company remains on track for $300 million of synergies by 2027 (management noted potential to exceed to ~$325M).
Improved Operating Efficiency and Cost Control
Operating expense as a percentage of revenue improved ~70 basis points and remained below 60% for the fifth consecutive quarter; repair and maintenance costs improved ~30 basis points as a percentage of revenue through fleet and technician efficiency actions.
Safety and Workforce Metrics
Best-ever Q1 safety performance and total driver/technician turnover improved to 17.2% (down 130 basis points YoY), supporting reliability and efficiency gains.
Capital Spend Normalization and Leverage
Capital expenditures were $650 million in Q1 (about 22% lower YoY as collection vehicle and sustainability spending normalized); leverage ratio improved to 2.94x, returning to the company’s 2.5–3.0x target range.
Tax and Production Credit Benefit
Q1 effective tax rate was about 18% (lower than planned) due to production tax credits; management expects a full-year effective tax rate of ~23% and production tax credit benefits of ~$27 million for 2025 and $30–35 million annually from 2026–2029.
WM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
WM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $227.35 | $230.31 | +1.30% |
Jan 28, 2026 | $230.68 | $222.25 | -3.66% |
Oct 27, 2025 | $212.10 | $202.64 | -4.46% |
Jul 28, 2025 | $225.28 | $232.85 | +3.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Waste Management (WM) report earnings?
Waste Management (WM) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is Waste Management (WM) earnings time?
Waste Management (WM) earnings time is at Jul 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WM EPS forecast?
WM EPS forecast for the fiscal quarter 2026 (Q2) is 1.99.
