Earnings Releases·Oct 27, 2026, 4:38 PM ET

Waste Management — Third Quarter 2026 Earnings Summary

Total revenue rose 6.3% year-over-year to $6,846 million, while adjusted operating EBITDA increased to $2,121 million and adjusted diluted EPS reached $2.15 compared to $1.98 in the prior year.
The company affirmed its full-year 2026 guidance, projecting revenue at the high end of the range ($26.275B–$26.475B), adjusted operating EBITDA between $8.15B and $8.25B, and free cash flow at the high end of the range ($3.75B–$3.85B).
Free cash flow for the first nine months of 2026 surged 42% to $3.01 billion, with the company returning $957 million to shareholders in the third quarter ($580M in repurchases, $377M in dividends) and expecting to repurchase $2 billion of shares in 2026.
Collection and Disposal revenue growth was driven by a 5.8% core price increase and 3.4% yield growth, offsetting a 0.4% volume decline from the intentional exit of lower-margin residential business and prior broker losses.
Healthcare Solutions revenue grew 3.7% with operating EBITDA rising over 30%, while the company completed its eighteenth renewable natural gas facility since 2022 and reported a blended recycled commodity price of $82 per ton.