Core Insights - Waste Management (WM) reported revenue of $6.31 billion for the quarter ended December 2025, reflecting a year-over-year increase of 7.1% [1] - The earnings per share (EPS) for the quarter was $1.93, up from $1.70 in the same quarter last year [1] - Revenue fell short of the Zacks Consensus Estimate of $6.39 billion, resulting in a surprise of -1.21% [1] - The EPS also missed the consensus estimate of $1.95, with a surprise of -1.03% [1] Financial Performance Metrics - Internal Revenue Growth for the total company was 7.1%, compared to an average estimate of 8.1% from six analysts [4] - Volume growth as a percentage of total company revenue was 0.7%, exceeding the four-analyst average estimate of 0.1% [4] - Internal revenue growth was reported at 3.1%, surpassing the four-analyst average estimate of 2.5% [4] - Growth from acquisitions was 4.3%, below the average estimate of 6.1% from three analysts [4] - Divestitures showed a change of -0.3%, compared to an average estimate of 0% [4] - Total average yield was 2.3%, higher than the three-analyst average estimate of 1.8% [4] Segment Performance - WM Healthcare Solutions reported net operating revenues of $615 million, slightly below the four-analyst average estimate of $615.55 million [4] - WM Renewable Energy achieved net operating revenues of $157 million, exceeding the average estimate of $149.45 million and representing a significant year-over-year increase of 68.8% [4] - Recycling Processing and Sales generated net operating revenues of $355 million, falling short of the average estimate of $360.11 million and reflecting a year-over-year decline of 10.8% [4] - Corporate and Other segments reported net operating revenues of $6 million, surpassing the average estimate of $5.18 million and showing a year-over-year increase of 20% [4] Stock Performance - Shares of Waste Management have returned +4.2% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Key Takeaways WM is set to report Q4 2025 results Jan. 28, with consensus calling for $6.4B revenues and $1.95 EPS.WM's top line is expected to be led by Collection at $3.9B, with Landfill and Transfer rising too.WM Healthcare Solutions revenues are seen jumping 53% to $616M, while Renewable Energy is projected up 60%.WM (WM) is scheduled to release fourth-quarter 2025 results on Jan. 28, 2026, after market close.WM surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed twice ...

Waste Management truck parked in a residential neighborhood, signifying the company's dominant performance in its sector. Key Points Waste Management’s Stericycle deal broadens its footprint into regulated, higher-margin services, but integration execution is now the swing factor for results. Core collection and disposal remains the profit engine, while the healthcare unit has been the main source of near-term friction. A larger dividend and a renewed buyback plan could become the next catalyst if cash ...

Core Insights - Waste Management (WM) reported disappointing Q3 2025 results, with earnings and revenues missing consensus estimates [2] - The stock has seen a 5.9% increase since the last earnings report, outperforming the S&P 500 [1] Financial Performance - Adjusted earnings were $1.98 per share, missing estimates by 1.5% but up 1% year-over-year [2] - Total revenues reached $6.4 billion, slightly missing estimates but growing 14.9% from the previous year [2] - Collection segment revenues were $3.9 billion, a 3.5% increase year-over-year, but below the estimated $4.1 billion [3] - Landfill segment revenues increased 7.8% to $995 million, surpassing the estimate of $986.5 million [3] - Transfer segment revenues rose 8.5% to $396 million, beating the estimate of $391.5 million [3] - Recycling Processing and Sales segment revenues declined 13.9% to $372 million, missing the estimate of $432.3 million [3] - Renewable Energy revenues were $115 million, up 32.2% year-over-year, exceeding the estimate of $103 million [4] - Adjusted operating EBITDA was $2 billion, missing the estimate of $1.9 billion but up 15.1% year-over-year [5] - Cash generated from operating activities was $1.6 billion, with capital expenditures of $635 million and free cash flow of $821 million [6] Future Outlook - WM expects revenues of $25.275 billion for 2025 and adjusted operating EBITDA between $7.475 billion and $7.625 billion [7] - Recent estimates have shown a downward trend, indicating a potential shift in investor sentiment [8][11] Industry Context - WM is part of the Zacks Waste Removal Services industry, where Waste Connections (WCN) reported revenues of $2.46 billion, a year-over-year increase of 5.1% [12] - WCN's expected earnings for the current quarter are $1.30 per share, reflecting a year-over-year change of 12.1% [13]

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].

Core Insights - Waste Management (WM) reported revenue of $6.44 billion for the quarter ended September 2025, reflecting a year-over-year increase of 14.9% [1] - Earnings per share (EPS) for the quarter was $1.98, slightly up from $1.96 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $6.49 billion, resulting in a surprise of -0.71% [1] - EPS also missed the consensus estimate of $2.01, with a surprise of -1.49% [1] Financial Performance Metrics - Internal Revenue Growth (Total) was 14.9%, compared to the average estimate of 15.8% from six analysts [4] - Internal Revenue Growth (Volume) was 0.8%, exceeding the average estimate of 0.4% from four analysts [4] - Internal Revenue Growth (Internal) was 3%, below the average estimate of 4.9% from four analysts [4] - Internal Revenue Growth (Acquisitions) was 11.9%, surpassing the average estimate of 10.5% from three analysts [4] - Total average yield was 2.2%, significantly lower than the average estimate of 5.6% from two analysts [4] Segment Performance - Operating revenues from WM Renewable Energy were $115 million, below the average estimate of $129.5 million, but showed a year-over-year increase of 32.2% [4] - Operating revenues from WM Healthcare Solutions reached $628 million, exceeding the estimated $587.33 million [4] - Operating revenues from Recycling Processing and Sales were $372 million, falling short of the estimated $395.44 million, representing a year-over-year decline of 13.9% [4] - Operating revenues from Corporate and Other were $7 million, above the average estimate of $5.7 million, with a year-over-year increase of 16.7% [4] Stock Performance - Shares of Waste Management have returned -1.8% over the past month, while the Zacks S&P 500 composite increased by 2.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Group 1 - Waste Management, Inc. (NYSE:WM) has garnered significant hedge fund interest and is trending on Reddit, earning a place on the list of the 10 Best Non-Tech Stocks to Buy According to Reddit [1] - Stifel initiated coverage on Waste Management, Inc. with a Buy rating and a price target of $252, anticipating strong free cash flow growth in 2026 and 2027 driven by recycling and renewable gas projects, lower capital intensity, and cost synergies from the Stericycle acquisition [2] - The company's business strategy focuses on delivering steady shareholder returns through share repurchases and increases in per-share metrics, with Stifel predicting free cash flow to compound at an upper 5% annual rate beyond 2027 [3] Group 2 - Waste Management, Inc. provides a diverse range of environmental services, including WM Renewable Energy, WM Healthcare Solutions, Recycling Processing and Sales, as well as Collection and Disposal, positioning it as one of the Best Non-Tech Stocks [4]

Core Insights - Waste Management Inc reported better-than-expected earnings for Q2, with earnings of $1.92 per share, surpassing the analyst consensus estimate of $1.89 per share, and quarterly sales of $6.430 billion, exceeding the estimate of $6.369 billion [1][2] Financial Performance - The company achieved robust organic revenue growth and margin expansion in its Collection and Disposal business, reaching the best-ever operating expense margin [2] - Operating EBITDA grew by double digits in both Recycling Processing and Sales and WM Renewable Energy segments, indicating strong earnings contributions from sustainability investments [2] Guidance and Analyst Ratings - Waste Management lowered its FY2025 sales guidance from a range of $25.550 billion-$25.800 billion to $25.275 billion-$25.475 billion [2] - Following the earnings announcement, analysts adjusted their price targets: Oppenheimer raised it from $260 to $265, UBS from $260 to $265, and BMO Capital from $245 to $248, while maintaining their respective ratings [3][5]

Summary of Waste Management (WM) 2025 Investor Day Company Overview - **Company**: Waste Management (WM) - **Event**: 2025 Investor Day - **Date**: June 24, 2025 - **Key Speaker**: Jim Fish, CEO Core Industry Insights - **Industry**: Waste Management and Environmental Services - **Market Position**: WM is positioned as a leader in the waste management industry with a unique asset network and materials management expertise [19][24][34] Key Financial Metrics - **2024 Revenue**: $22.1 billion [19] - **2024 EBITDA**: $6.6 billion [19] - **Historical Performance**: - 3% revenue growth during the pandemic - 7% adjusted operating EBITDA growth during the pandemic - 14% free cash flow growth during the pandemic - 6% top-line growth from 2022 to 2024 - 9% EBITDA growth from 2022 to 2024 - 13% free cash flow growth from 2022 to 2024 [20][21] Strategic Focus Areas - **People First Leadership**: Emphasis on valuing employees and fostering a dynamic leadership team [17][18] - **Long-term Growth Strategy**: Focus on sustainable value creation through disciplined capital allocation and operational excellence [18][64] - **Customer-Centric Approach**: Commitment to customer service and satisfaction as a core business principle [32][34] Operational Excellence - **Cost Management**: Operating expenses as a percentage of revenue reduced from 65% to 60% [31][69] - **Technology Integration**: Implementation of advanced technologies to improve operational efficiency and safety [74][80] - **Fleet Optimization**: Use of telematics and real-time data to enhance fleet management and reduce downtime [84][86] Growth Platforms - **Sustainability Initiatives**: Planned investment of $3 billion in recycling and renewable natural gas (RNG) plants, with expected incremental free cash flow of $600 million to $630 million from these investments [45][46] - **Healthcare Solutions**: Expansion into healthcare waste management, leveraging demographic trends and increasing healthcare spending [47][54] Market Trends and Challenges - **Labor Market**: Addressing labor shortages through technology and automation, including the transition to automated side loaders and autonomous vehicles [58][62] - **Landfill Capacity**: Anticipating a reduction in landfill capacity over the next 20 years, while maintaining a competitive disposal network [36][38] Competitive Landscape - **Consolidation Opportunities**: Potential for tuck-in acquisitions within the industry, with a focus on expanding operations in underserved areas [42][44] - **Regulatory Expertise**: Leveraging regulatory knowledge to navigate industry challenges and enhance service offerings [34] Conclusion - **Investment Thesis**: WM is positioned for sustained growth through a combination of strong leadership, operational excellence, and strategic investments in sustainability and healthcare solutions [64]

Financial Performance and Targets - WM's 2024 adjusted operating EBITDA was $6.6 billion[24], and revenue was $22.1 billion[24] - The company is targeting $28.5 billion to $29.25 billion in revenue by 2027[330] - WM expects $8.85 billion to $9.15 billion in adjusted operating EBITDA by 2027[330] - The company anticipates $4.025 billion to $4.175 billion in free cash flow (before sustainability growth investments) by 2027[330] Sustainability Initiatives - WM has allocated approximately $1.4 billion in investments towards 39 new or automated recycling facilities[63] - These recycling investments are projected to add 2.8 million tons of annual recycling capability[63] - The company has invested ~$1.6 billion in RNG projects, aiming for the generation of 25 million incremental MMBtu annually[63] WM Healthcare Solutions (Stericycle Acquisition) - WM anticipates $250 million in annual run-rate cost synergies from the Stericycle acquisition by 2027[67, 297], doubling original expectations - The National Accounts segment has grown from $1.4 billion to $2.4 billion over the last five years[174] Operational Improvements and Market Dynamics - The company has achieved a core price spread to inflation of >300 bps[39, 162] - WM's frontline wages have increased by >29% over the past 5 years[73]