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Waste Management WM Q2 2026 earnings

Reported July 28, 2026 · After market close

Revenue$6.7BMiss by $25.2M
Adjusted EPS$2.02Beat by $0.04
Revenue estimate$6.7B
EPS estimate$1.98
“Adjusted operating EBITDA grew 5.5%, or 9.1% when removing contributions from wildfire cleanup activities in the prior year. Each of our operating segments contributed to growth in adjusted operating EBITDA and margin, led by the Collection and Disposal business and bolstered by our healthcare and sustainability businesses. The momentum across our operations and our confidence in the ability to execute our strategy position us well to achieve strong 2026 results.”
Jim Fish

Next report

Oct 27, 2026 (In 3 weeks)
Revenue estimate$6.8B
EPS estimate$2.19

Financials

Q2 2026

Income statement

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Revenue$6.7B+4.0%
Gross profit$2.7B+5.3%
Operating income$1.3B+8.9%
Net income$785.0M+8.1%
EPS (diluted)$1.95+8.3%

Balance sheet

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Cash & equivalents$557.0M+26.6%
Total debt$23.4B—
Total equity$9.9B+7.9%
Total assets$46.4B+1.6%

Cash flow

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Operating cash flow$1.7B+11.7%
CapEx$630.0M-13.9%
Free cash flow$1.1B+34.8%

Valuation & ratios

Valuation

as of 10/02/26
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Market cap$80.7B-7.6%
Enterprise value$103.5B—
P/E28.3×-5.8×
P/S3.1×-0.4×

Profitability

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Gross margin40.9%+1.2pp
Operating margin17.6%0.0pp
Net margin11.1%-0.2pp
FCF margin13.9%+4.9pp

Returns & leverage

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Return on equity29.8%-2.8pp
Debt / equity2.4×—
Current ratio0.9×+0.1×

Segments

By segment

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East Tier Region Areas$3.1B+5.0%
West Tier Region Areas$2.9B+2.4%
All Other Segments$840.0M+6.5%
Healthcare Solutions$742.0M+14.7%
Recycling Processing And Sales$491.0M+1.9%

By product

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Commercial$1.7B+6.4%
Landfill$1.4B-0.9%
Industrial$1.1B+5.1%
Residential$930.0M+4.0%
Other Collection$923.0M+6.8%

FAQ

When did Waste Management report Q2 2026 earnings?
Waste Management (WM) reported Q2 2026 earnings on July 28, 2026 after market close.
What were Waste Management's Q2 2026 revenue and EPS?
Waste Management reported revenue of $6.7B and adjusted eps of $2.02 for Q2 2026.
Did Waste Management beat estimates in Q2 2026?
Revenue missed the consensus estimate of $6.7B by $25.2M. EPS beat the consensus estimate of $1.98 by $0.04.
How did Waste Management's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 4.0% from $6.4B a year earlier.
Where can I find Waste Management's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-087575) and the 10-Q periodic report (0001104659-26-088016) directly on SEC EDGAR. The filing index links above go to sec.gov.