Waste Management Q3 Revenue Rises 6.3% to $6.85 Billion

What happened

Waste Management reported third-quarter 2026 revenue of $6.85 billion, up 6.3% from a year earlier. Adjusted diluted EPS was $2.15, adjusted operating EBITDA rose 5.8% to $2.12 billion, and reported net income was $820 million. The company affirmed its 2026 guidance.

Confirmed

Global impact / market context

Revenue growth came mostly from higher prices rather than more trash collected, since collection and disposal volume fell 0.4%. That means the company is earning more per pickup, which supports profit even as it deliberately exits lower-margin residential contracts.

Analyst inference

The affirmed guidance pointing toward the high ends of revenue and free cash flow ranges suggests management expects pricing strength and cost discipline to continue. Free cash flow, the cash left after spending needed to run and grow the business, was $3.01 billion for the first nine months.

Analyst inference

What to watch

1. Collection and Disposal volume declined 0.4%, or 0.5% on a workday-adjusted basis, reflecting the planned exit from lower-margin residential business and commercial declines tied largely to prior national account broker losses. Confirmed
2. Watch whether core price of 5.8% and Collection and Disposal yield of 3.4% hold up, because pricing is doing most of the work of growing revenue while volumes shrink. Proposed
3. Track free cash flow against the high end of guidance, since cash available funds dividends and debt payments, and slower collections or higher costs could pressure it. Analyst inference

Evidence

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