Waste Management reported second-quarter 2026 results with revenue of $6.684 billion and adjusted operating EBITDA of $2.067 billion. Net income attributable to Waste Management was $785 million and adjusted diluted EPS was $2.02 for the quarter. The company generated $1.73 billion of net cash from operating activities and returned $1.04 billion to shareholders in the quarter.

Financial Highlights

  • Revenue: $6,684 million for the three months ended June 30, 2026 (vs. $6,430 million prior year).
  • Income from operations: $1,253 million (as reported); adjusted income from operations: $1,290 million.
  • Adjusted operating EBITDA: $2,067 million; adjusted operating EBITDA margin: 30.9% for the quarter.
  • Net income attributable to Waste Management: $785 million; adjusted net income: $813 million.
  • Diluted adjusted EPS: $2.02; reported diluted EPS: $1.95.

Business Highlights

  • Revenue grew 4.0% year-over-year, driven by core price increases of 5.7% and a Collection and Disposal yield of 3.6%, plus higher energy surcharges and increased volumes in recycling and renewable energy businesses.
  • Collection and Disposal volumes declined 1.8% primarily due to prior-year wildfire cleanup activity; excluding that activity, landfill volumes grew 1.7% and collection volumes declined 0.4% with residential losses improving sequentially by 210 basis points.
  • Completed sustainability growth projects: three new renewable natural gas facilities (two in South Carolina, one in Florida) adding ~3.5 million MMBtu expected annual run-rate production, and a new recycling facility in Denver adding ~60,000 tons of annual processing capacity.
  • Healthcare Solutions integration continued to contribute, with operating EBITDA growth driven by SG&A management and integration benefits with core operations.
  • Operational efficiency gains maintained operating expenses at 59.2% of revenue despite higher fuel-related costs, supported by technology and automation initiatives.

Original SEC Filing:

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