Waste Management's (NYSE:WM) Q3 2026: beats on revenue

What happened

Waste Management reported Q3 2026 revenue of $6.85 billion, up 6.3% from a year earlier and slightly above analysts' consensus estimate of $6.81 billion. Adjusted profit was $2.15 per share, below the $2.18 consensus estimate.

Confirmed

Global impact / market context

Revenue growth of 6.3% shows the company is winning more business and raising prices, which supports cash flow used to fund capital spending and shareholder returns. However, profit per share missed estimates, suggesting costs rose faster than expected.

Analyst inference

Waste Management is a large, steady waste services provider valued at $96.34 billion. Operating margin improved to 18.7% from 15.3%, and free cash flow margin rose, which means the company keeps more cash after covering spending needed to run and grow its operations.

Analyst inference

What to watch

1. Full-year revenue guidance points to about $26.38 billion at the midpoint, and the company said revenue would land at the high end of its previously provided range. Confirmed
2. Watch whether adjusted profit per share recovers in coming quarters, since the Q3 miss suggests cost pressures that could reduce cash available for dividends and buybacks. Analyst inference
3. Track the full-year EBITDA figure of $8.2 billion at the midpoint, as a shortfall would signal weaker operating profit and could change investor expectations for the stock. Analyst inference

Evidence

• stockstory.org