Waste Management Q3 revenue slightly beats on higher volumes
WM•Waste Management reported Q3 revenue of $6.85 billion, slightly above the $6.81 billion analyst estimate, while adjusted EPS of $2.15 missed the $2.18 estimate. The company returned $957 million to shareholders and expects 2026 revenue and free cash flow at the high end of its guidance ranges.
1. Quarterly results
Waste Management’s Q3 revenue was $6.85 billion, slightly above analysts’ $6.81 billion estimate. Adjusted EPS was $2.15, below the $2.18 estimate; reported EPS was $2.05. The company returned $957 million to shareholders through buybacks and dividends during the quarter.
2. 2026 outlook
Waste Management expects 2026 revenue at the high end of its $26.275 billion to $26.475 billion guidance range and free cash flow at the high end of its $3.75 billion to $3.85 billion range. It expects adjusted operating EBITDA within its $8.15 billion to $8.25 billion guidance range.
3. Revenue drivers
The company said Q3 revenue growth reflected higher pricing, energy surcharges, and increased recycling and renewable energy volumes. Healthcare Solutions revenue and operating income rose with cost management, synergies and pricing. Collection and Disposal efficiency improved, but higher fuel and risk management costs offset margin gains.
