Accessibility StatementSkip Navigation Americans feel good about recycling, and company recycling commitments help guide their purchases — even as everyday barriers can limit recycling follow through HOUSTON, Oct. 30, 2025 /PRNewswire/ --Â WMÂ (NYSE: WM), a leading environmental solutions provider and North America's largest recycler, released its 2025 WM Recycling Report, revealing a significant "say-do gap" between Americans' recycling intentions and their actual behaviors. The survey also highlighted tha ...

Core Insights - Waste management stocks are considered defensive investments, providing steady cash flows and dividend potential while being influenced by regulations, commodity prices, and sustainability trends [2] Group 1: Waste Management Companies - Waste Management, Inc. offers environmental solutions including waste collection, transportation, and landfill operations in the U.S. and Canada [3] - GFL Environmental Inc. provides non-hazardous solid waste management and environmental services across Canada and the U.S. [4] - Custom Truck One Source, Inc. specializes in equipment rental and sales for various infrastructure-related industries, including waste management [5] - Concrete Pumping Holdings, Inc. delivers concrete pumping and waste management services in the U.S. and the U.K. [6] - Avalon Holdings Corporation offers waste management services to various sectors, including hazardous and nonhazardous waste disposal [7] - LanzaTech Global focuses on regenerating industrial waste into circular products using renewable energy [8] - ESGL Holdings Limited provides waste solutions by transforming industrial waste into circular products [8]

Ottawa, Oct. 29, 2025 (GLOBE NEWSWIRE) -- The global plastic waste management market size was valued at USD 38.19 billion in 2024 and is anticipated to reach around USD 54.66 billion by 2034, growing at a compound annual growth rate (CAGR) of 3.65% over the forecast period from 2025 to 2034. Europe dominated the Plastic Waste Management market with a market share of 36% in 2024. Increasing government regulations and initiatives promoting plastic recycling and sustainability are driving the growth of the mar ...

Core Insights - Waste Management, Inc. (NYSE:WM) is a leading provider of waste management services in North America, focusing on collection, transfer, recycling, and disposal, with an emphasis on sustainability initiatives [1] - Citigroup has maintained a "Buy" rating for WM and raised the price target from $268 to $270 following the Q3 2025 earnings call [2][6] - The current stock price of WM is $204.23, reflecting a decrease of 4.46% [4][6] Financial Performance - During the Q3 2025 earnings call, key leaders discussed WM's financial performance and strategic initiatives, with a focus on sustainability and enterprise strategy [3] - WM has a market capitalization of approximately $82.27 billion, indicating its significant presence in the waste management industry [5] - The trading volume for WM on the NYSE is 3,533,603 shares, showing active investor interest [5] Stock Performance - The stock price has fluctuated between a low of $197.25 and a high of $208.80 on the current trading day, with a yearly high of $242.58 and a low of $197.25, indicating volatility [4]

The Bill & Melinda Gates Foundation is facing a formal inquiry from the U.S. Senate over allegations it has funded the Chinese Communist Party (CCP) and its allies, potentially in violation of its tax-exempt status.$23 Million In Grants Were Paid To 20 Chinese EntitiesIn a letter dated Oct. 27, 2025, Senate Judiciary Committee Chairman Charles E. Grassley (R-Iowa) confronted foundation CEO Mark Suzman with reports of “grants and direct payments” to Chinese state-run entities. The letter alleges that in 2022 ...

Financial Performance - Revenues for the third quarter of 2025 were $6,443 million, an increase of $834 million, or 14.9%, compared to $5,609 million in the prior year period, driven by recent acquisitions, higher yield in Collection and Disposal businesses, and increased volumes in landfill and recycling [129]. - Operating expenses were $3,833 million, or 59.5% of revenues, down from 60.6% in the prior year period, reflecting efficiency gains and improved turnover despite an increase in absolute terms [129]. - Income from operations decreased to $989 million, or 15.3% of revenues, down from $1,119 million, or 20.0% of revenues, impacted by a $152 million charge related to plastic film recycling operations and higher integration costs from the Stericycle acquisition [129]. - Net income attributable to Waste Management, Inc. was $603 million, or $1.49 per diluted share, compared to $760 million, or $1.88 per diluted share, in the prior year period, reflecting a $157 million decrease [129]. - Total operating revenues for the three months ended September 30, 2025, were $6,443 million, a 14.9% increase compared to $5,609 million in 2024 [131]. - The total income from operations decreased by $130 million (11.6%) to $989 million for the three months ended September 30, 2025, compared to $1,119 million in the prior year [166]. Expenses and Costs - Selling, general and administrative expenses rose to $665 million, or 10.3% of revenues, compared to $525 million, or 9.4% of revenues, primarily due to costs associated with the Stericycle acquisition [129]. - Labor and related benefits costs rose to $1,139 million (17.7% of revenues) for the three months ended September 30, 2025, up from $962 million (17.2%) in the same period last year, driven by recent acquisitions and annual wage increases [144][145]. - Transfer and disposal costs increased to $357 million (5.5% of revenues) for the three months ended September 30, 2025, primarily due to acquisitions and inflationary pressures [146]. - Cost of goods sold decreased by 17.4% to $233 million (3.6% of revenues) for the three months ended September 30, 2025, attributed to a 35% drop in average market prices for single-stream recycled commodities [149]. - Depreciation, depletion, and amortization expenses increased to $729 million (11.3% of revenues) for the three months ended September 30, 2025, driven by recent acquisitions and capital investments [161]. Acquisitions and Integration - The acquisition of Stericycle, completed on November 4, 2024, has been integrated into a new reportable segment, WM Healthcare Solutions, focusing on service delivery and operational integration [119]. - Interest expense increased to $225 million for the three months ended September 30, 2025, from $131 million in the prior year, primarily due to higher average debt balances related to the acquisition of Stericycle [168]. - Acquisitions spending decreased to $403 million in the nine months ended September 30, 2025, from $790 million in 2024, with most acquisitions related to solid waste and recycling businesses [181]. Cash Flow and Liquidity - Net cash provided by operating activities increased to $1,592 million from $1,358 million year-over-year, driven by higher earnings and contributions from recent acquisitions [130]. - Free cash flow rose to $821 million compared to $618 million in the prior year, attributed to increased operating cash flow despite a planned reduction in capital investment [130]. - Cash and cash equivalents decreased to $175 million as of September 30, 2025, from $414 million at the end of 2024 [174]. - Net cash provided by operating activities increased by $466 million to $4,345 million for the nine months ended September 30, 2025, compared to $3,879 million in the prior year [178]. - Free cash flow for the nine months ended September 30, 2025, was $2,114 million, compared to $1,862 million in 2024, indicating improved liquidity [184]. Sustainability and Technology - The company is investing in automation and technology to enhance operational efficiency and reduce costs, particularly in recycling and customer service [124]. - The company is committed to sustainability and has published its 2025 Sustainability Report, outlining progress towards its 2030 sustainability goals [122]. - The waste industry is experiencing increased complexity in waste streams and regulatory pressures for recycling and waste reduction, prompting the company to adapt its service offerings [122]. - The company is pursuing emerging diversion technologies to generate additional value and enhance its comprehensive environmental solutions [121]. - The company expects to continue benefiting from strong returns on sustainability growth projects as it transitions from peak construction to operational phases [130]. Market Conditions and Outlook - The company anticipates that inflation and economic conditions may impact financial outlook, and it is taking steps to mitigate these risks through pricing and cost management strategies [189]. - The company expects a cumulative benefit of approximately $400 million from the Inflation Reduction Act, with $145 million recognized in 2023 and 2024 [171].

Core Insights - WM reported disappointing third-quarter 2025 results, with adjusted earnings of $1.98 per share missing the consensus estimate by 1.5%, although it represented a 1% year-over-year increase. Total revenues of $6.4 billion also missed estimates but grew 14.9% from the previous year [1][9]. Financial Performance - The Collection segment generated revenues of $3.9 billion, a 3.5% increase year-over-year, but fell short of the $4.1 billion estimate. The Landfill segment saw a 7.8% increase to $995 million, exceeding the $986.5 million projection. The Transfer segment's revenues rose 8.5% to $396 million, surpassing the $391.5 million estimate. However, the Recycling Processing and Sales segment's revenues declined 13.9% to $372 million, missing the $432.3 million estimate [3][4][9]. - Adjusted operating EBITDA was $2 billion, missing the estimate of $1.9 billion but increasing 15.1% year-over-year. The adjusted operating EBITDA margin improved by 10 basis points to 30.6%, exceeding the 30.1% estimate [5][9]. Cash Flow and Dividends - WM generated $1.6 billion in cash from operating activities, with capital expenditures of $635 million, resulting in free cash flow of $821 million. The company distributed $332 million in cash dividends to shareholders during the quarter [6][9]. 2025 Outlook - For 2025, WM expects revenues of $25.275 billion, which is below the Zacks Consensus Estimate of $25.36 billion. The company anticipates adjusted operating EBITDA in the range of $7.475 billion to $7.625 billion [7][9].

Waste Management (NYSE:WM) Q3 2025 Earnings Call October 28, 2025 10:00 AM ET Company ParticipantsTara Hemmer - Chief Sustainability OfficerRafael Carrasco - EVP Enterprise Strategy and PresidentJim Fish - CEOJohn Morris - President and COODevina Rankin - EVP and CFOEd Egl - VP of Investor RelationsConference Call ParticipantsShlomo Rosenbaum - AnalystFaiza Alwy - Stock AnalystBryan Burgmeier - Stock AnalystTyler Brown - Equity Research AnalystNoah Kaye - Senior Research AnalystRob Wertheimer - Research Ana ...

Waste Management (NYSE:WM) Q3 2025 Earnings Call October 28, 2025 10:00 AM ET Company ParticipantsTara Hemmer - Chief Sustainability OfficerRafael Carrasco - EVP Enterprise Strategy and PresidentJim Fish - CEOJohn Morris - President and COODevina Rankin - EVP and CFOEd Egl - VP of Investor RelationsConference Call ParticipantsShlomo Rosenbaum - AnalystFaiza Alwy - Stock AnalystBryan Burgmeier - Stock AnalystTyler Brown - Equity Research AnalystNoah Kaye - Senior Research AnalystRob Wertheimer - Research Ana ...

Financial Data and Key Metrics Changes - The company reported a third-quarter operating EBITDA growth of over 15% and free cash flow growth of nearly 33% [6][10] - Total company operating EBITDA margin reached 30.6%, the best quarterly result in history, while the legacy business achieved a margin of 32% [18][19] - Free cash flow for the first nine months of 2025 grew 13.5% to $2.11 billion, with operating EBITDA to free cash flow conversion approaching 42% [20][21] Business Line Data and Key Metrics Changes - The collection and disposal business contributed more than half of the year-over-year increase in operating EBITDA, with MSW and special waste volumes growing by 5% and 5.5% respectively [6][12] - Operating EBITDA margins in the collection and disposal business expanded by 100 basis points to a record 38.4%, with every line of business contributing to growth [12][14] - The healthcare solutions segment's operating EBITDA margin improved to 17.5%, reflecting successful integration efforts [19][23] Market Data and Key Metrics Changes - The company experienced solid organic revenue growth driven by disciplined pricing and improving volume trends, with core price at 6% [13][14] - Landfill volumes rose by 5.2%, with broad strength across MSW, special waste, and construction and demolition [14][48] - Despite a nearly 35% decline in recycled commodity prices, the recycling segment's operating EBITDA grew by 18% [9][20] Company Strategy and Development Direction - The company is focused on maximizing customer lifetime value through pricing strategies and technology optimization [6][7] - Investments in technology and automation, as well as in new recycling and renewable natural gas facilities, are expected to yield benefits in 2026 [10][11] - The company remains disciplined in capital allocation, expecting to return significant value to shareholders through dividends and potential share repurchases [21][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value of the healthcare solutions acquisition, despite a more measured revenue growth pace than initially projected [21][23] - The company anticipates a strong fourth quarter, driven by improved execution and a robust post-collection network [50][51] - Management highlighted the importance of customer-centric strategies and operational efficiencies in driving future growth [62][64] Other Important Information - The company has returned $1 billion to shareholders in dividends and allocated over $400 million to solid waste acquisitions [21] - The CFO announced retirement plans, expressing confidence in the incoming CFO and the company's future [24][25] Q&A Session Summary Question: How much have you benefited from one-time cleanup work at the landfill? - The company indicated that total revenues from wildfire volumes were around $115 million for the year, with a significant EBITDA growth in solid waste results without meaningful impacts from wildfires [29][30] Question: Can you clarify the charges this quarter? - The landfill impairment was due to a long-term pursuit of expansion that was deemed no longer viable, leading to recorded impairments [31][32] Question: What are the expectations for 2026 free cash flow? - The company expects free cash flow to approach $3.8 billion, driven by a wind-down of sustainability investments and strong performance from the legacy business [10][33] Question: How is the healthcare solutions business performing? - The healthcare solutions business is experiencing some churn but has renewed nearly $200 million worth of business, indicating strong customer retention and growth potential [81] Question: What is the outlook for M&A activity? - The company anticipates a normal M&A pipeline of $100 million to $200 million for 2026, with ongoing integration of the healthcare solutions business [77][79]