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Waste Management Earnings Calls
| Release date | Oct 27, 2025 |
| EPS estimate | $2.01 |
| EPS actual | $1.98 |
| EPS Surprise | -1.49% |
| Revenue estimate | 6.492B |
| Revenue actual | 6.443B |
| Revenue Surprise | -0.759% |
| Release date | Jul 28, 2025 |
| EPS estimate | $1.89 |
| EPS actual | $1.92 |
| EPS Surprise | 1.59% |
| Revenue estimate | 6.361B |
| Revenue actual | 6.43B |
| Revenue Surprise | 1.08% |
| Release date | Apr 28, 2025 |
| EPS estimate | $1.59 |
| EPS actual | $1.67 |
| EPS Surprise | 5.03% |
| Revenue estimate | 6.108B |
| Revenue actual | 6.018B |
| Revenue Surprise | -1.47% |
| Release date | Jan 29, 2025 |
| EPS estimate | $1.80 |
| EPS actual | $1.70 |
| EPS Surprise | -5.56% |
| Revenue estimate | 5.836B |
| Revenue actual | 5.893B |
| Revenue Surprise | 0.97% |
Last 4 Quarters for Waste Management
Below you can see how WM performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Jan 29, 2025 |
| Price on release | $209.55 |
| EPS estimate | $1.80 |
| EPS actual | $1.70 |
| EPS surprise | -5.56% |
| Date | Price |
|---|---|
| Jan 23, 2025 | $210.10 |
| Jan 24, 2025 | $209.43 |
| Jan 27, 2025 | $213.66 |
| Jan 28, 2025 | $213.65 |
| Jan 29, 2025 | $209.55 |
| Jan 30, 2025 | $222.43 |
| Jan 31, 2025 | $220.26 |
| Feb 03, 2025 | $223.72 |
| Feb 04, 2025 | $222.14 |
| 4 days before | -0.262% |
| 4 days after | 6.01% |
| On release day | 6.15% |
| Change in period | 5.73% |
| Release date | Apr 28, 2025 |
| Price on release | $229.08 |
| EPS estimate | $1.59 |
| EPS actual | $1.67 |
| EPS surprise | 5.03% |
| Date | Price |
|---|---|
| Apr 22, 2025 | $229.96 |
| Apr 23, 2025 | $228.63 |
| Apr 24, 2025 | $227.47 |
| Apr 25, 2025 | $228.31 |
| Apr 28, 2025 | $229.08 |
| Apr 29, 2025 | $228.80 |
| Apr 30, 2025 | $233.36 |
| May 01, 2025 | $233.40 |
| May 02, 2025 | $233.94 |
| 4 days before | -0.383% |
| 4 days after | 2.12% |
| On release day | -0.122% |
| Change in period | 1.73% |
| Release date | Jul 28, 2025 |
| Price on release | $227.90 |
| EPS estimate | $1.89 |
| EPS actual | $1.92 |
| EPS surprise | 1.59% |
| Date | Price |
|---|---|
| Jul 22, 2025 | $227.09 |
| Jul 23, 2025 | $228.12 |
| Jul 24, 2025 | $230.61 |
| Jul 25, 2025 | $229.67 |
| Jul 28, 2025 | $227.90 |
| Jul 29, 2025 | $235.56 |
| Jul 30, 2025 | $232.51 |
| Jul 31, 2025 | $229.16 |
| Aug 01, 2025 | $228.88 |
| 4 days before | 0.357% |
| 4 days after | 0.430% |
| On release day | 3.36% |
| Change in period | 0.788% |
| Release date | Oct 27, 2025 |
| Price on release | $213.77 |
| EPS estimate | $2.01 |
| EPS actual | $1.98 |
| EPS surprise | -1.49% |
| Date | Price |
|---|---|
| Oct 21, 2025 | $214.89 |
| Oct 22, 2025 | $216.46 |
| Oct 23, 2025 | $216.11 |
| Oct 24, 2025 | $214.66 |
| Oct 27, 2025 | $213.77 |
| Oct 28, 2025 | $204.23 |
| Oct 29, 2025 | $197.53 |
| Oct 30, 2025 | $200.57 |
| Oct 31, 2025 | $199.77 |
| 4 days before | -0.521% |
| 4 days after | -6.55% |
| On release day | -4.46% |
| Change in period | -7.04% |
Waste Management Earnings Call Transcript Summary of Q3 2025
WM delivered a strong Q3 2025 with record margins and meaningful cash generation. Key financial highlights include operating EBITDA growth of >15% (Q3) and free cash flow growth of nearly 33% (Q3); total-company operating EBITDA margin of 30.6% (best quarterly result in company history) and WM legacy margin of 32%; year-to-date cash from operations of $4.35 billion and year-to-date free cash flow of $2.11 billion. The collection & disposal business remains the primary growth engine (MSW +5%, special waste +5.5%), with disposal/landfill volumes up ~5% and core pricing strong (core price ~6%, collection & disposal yield ~3.8%). Sustainability businesses performed well despite weaker commodity prices (recycling EBITDA +18% YoY despite ~35% drop in commodity prices) and RNG production doubled YTD with additional RIN sales expected in Q4. The Stericycle (WM Healthcare Solutions) acquisition is being integrated into WM’s 16-area operating model; top-line progress has been moderated by deliberate customer credits, deferred price increases and ERP stabilization, but synergies, internalization and cross-sell are ahead of plan. Management’s early view for 2026 anticipates “harvesting” prior investments with free cash flow approaching ~$3.8 billion; leverage is 3.3x at quarter end with a target 2.5x–3.0x by mid-2026. Other notes: WM temporarily idled its Natura flexible plastics plant due to weak virgin/plastics pricing and demand; recorded an impairment related to a long‑pursued hazardous landfill expansion in the Northeast; Devina Rankin announced her upcoming retirement (CFO transition to David Reed). Management raised Q4 consolidated margin expectations to a 29.6%–30.2% range and reiterated confidence in meeting prior operating EBITDA and free cash flow guidance for 2025.
