Waste Management lowers 2026 revenue forecast amid pullback from residential business

Here are some details:

• WM and Republic Services RSG.N are two leading companies in garbage collection across significant regions of the U.S., operating alongside municipal waste departments.
• In the second quarter, WM's residential collection volumes fell 2.9% compared with a year ago.
• Overall collection and disposal volumes fell 1.8%, largely due to wildfire cleanup activities that benefited the year-ago period.
• Shares of the Houston, Texas-based company fell nearly 3% after the bell.
• It lowered its 2026 revenue forecast to a range of $26.275 billion to $26.475 billion, from its previous forecast of $26.425 billion to $26.625 billion.
• Analysts on average expected $26.53 billion, according to data compiled by LSEG.
• Its total revenue for the quarter ended June 30 came in at $6.68 billion, compared with analysts' average estimates of $6.7 billion.

July 28 (Reuters) - Waste Management forecast 2026 revenue below Wall Street estimates after also missing second-quarter sales estimates, as waste collection volumes in its residential business declined.