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Waste Management Inc
XMUN:UWS

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Waste Management Inc
XMUN:UWS
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Price: 182.4 EUR -0.05% Market Closed
Market Cap: €73.2B

Waste Management Inc
Investor Relations

Waste Management is one of the largest waste and environmental service companies in North America. It collects trash from homes, businesses, and local governments, then moves that material through its network of trucks, transfer stations, recycling centers, and landfills. It also handles special waste and offers cleanup and disposal services for industrial customers. The company makes money mainly by charging recurring service fees to pick up waste and by charging disposal fees when waste is delivered to its landfills or processed at its facilities. It also earns money from recycling operations and from selling recovered materials such as paper, metal, and plastic after sorting and processing them. What sets Waste Management apart is its role as an integrated waste handler rather than just a hauler. It owns much of the infrastructure needed to collect, transport, recycle, and dispose of waste, which gives it control over the full path from pickup to final disposal. That makes it a key middleman in a business that people, businesses, and cities need every day.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Jul 29, 2026
AI Summary
Q2 2026

Strong quarter: WM said second-quarter operating EBITDA grew 5.5%, or 9.1% excluding last year’s wildfire cleanup work, while margin expanded 40 basis points and free cash flow rose 35%.

Guide trimmed: Management narrowed 2026 revenue outlook to $26.275 billion to $26.475 billion, mainly because solid waste volumes were softer than expected, plus some pressure from recycling brokerage and RNG timing.

Margins intact: Even with wildfire and energy surcharge headwinds, WM raised full-year margin expectations by 20 basis points to 31% to 31.2% and said full-year EBITDA and free cash flow guidance remain on track.

Healthcare improving: Stericycle/Healthcare Solutions showed better integration, with EBITDA margin up 200 basis points to 19% and SG&A down to 18% of revenue; management expects more improvement in the back half.

Capital returns: WM generated $2.02 billion of free cash flow in the first six months, repurchased $1.0 billion of stock, paid $764 million in dividends, and ended the quarter at 2.96x leverage, within its target range.

Long-term growth: The company highlighted recycling automation, renewable natural gas, AI-driven productivity, and tuck-in acquisitions as key long-term value drivers, with a bigger acquisition pipeline now that leverage is back in range.

Key Financials
Operating EBITDA growth
5.5%
Operating EBITDA growth ex wildfire cleanup contributions
9.1%
Free cash flow growth
35%
Revenue guidance
$26.275 billion to $26.475 billion
Margin guidance
31% to 31.2%
Operating cash flow
$3.23 billion
Free cash flow
$2.02 billion
Leverage
2.96x
Share repurchases
$1.0 billion
Dividends
$764 million
SG&A as a percentage of revenue
9.9%
Healthcare Solutions EBITDA margin
19%
Healthcare Solutions SG&A as a percentage of revenue
18%
Healthcare cross-selling EBITDA
$32 million
Healthcare synergies
more than $300 million
Core price exit 2026
above 5.5%
Collection and Disposal volume
negative 0.4%
Special waste volume
4.5%
Residential volume decline
negative 2.9%
Recyclables processed
12%
Renewable natural gas production
1.6 million MMBtu
SmartTruck annual run rate EBITDA
more than $300 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. John J. Morris Jr.
Executive VP & COO

John J. Morris Jr. is a notable executive in the waste management sector, currently serving as the Executive Vice President and Chief Operating Officer (COO) of Waste Management, Inc., one of the leading comprehensive waste management environmental services companies in North America. In his role as COO, Morris oversees the company's operations, including the collection, disposal, recycling, and renewable energy processes. Joining Waste Management in 1998, Morris has held various leadership positions throughout his tenure, which have equipped him with extensive experience in operations and management within the industry. His effective leadership strategies and operational efficiencies have been instrumental in Waste Management's growth and sustainability initiatives. Morris holds a Bachelor of Science degree from Rutgers University. His long career at Waste Management has been marked by a strong commitment to innovation in waste management practices and enhancing the company's environmental stewardship and sustainability efforts.

Mr. Rafael E. Carrasco
Senior Vice President of Enterprise Strategy

Rafael E. Carrasco serves as the Chief People Officer at Waste Management Inc. In his role, he is responsible for leading the company's human resources strategy, which includes talent acquisition, leadership development, employee engagement, and organizational effectiveness. Carrasco brings a wealth of experience to the position, having held various leadership roles in human resources within the company or similar industries. His work is integral to fostering a positive workplace culture and ensuring that Waste Management attracts and retains top talent to meet its business objectives. Carrasco is known for his strategic insights and commitment to developing effective people management practices that align with the company's values and goals.

Mr. John A. Carroll
VP & Chief Accounting Officer

John A. Carroll served as an executive at Waste Management, Inc., a leading provider of comprehensive waste management services in North America. He held the position of Senior Vice President of Operations. In this role, Carroll was responsible for overseeing and optimizing the operational processes of the company to enhance efficiency and service delivery. His leadership contributed significantly to advancing the company's mission of sustainability and environmental stewardship. Carroll's career with Waste Management highlighted his expertise in operational management and his ability to drive strategic initiatives that align with the company's goals.

Mr. Johnson Varkey
Senior VP & Chief Information Officer
No Bio Available
Mr. Edward A. Egl
Director of Investor Relations

Edward A. Egl is a notable executive who has been associated with Waste Management Inc., a leading provider of comprehensive waste management environmental services in North America. Mr. Egl has contributed significantly to the company's operations and growth. In his role, he has been instrumental in shaping and implementing strategies that enhance service efficiency, sustainability practices, and operational excellence. His leadership and expertise have been pivotal in driving initiatives that align with Waste Management's commitment to environmental stewardship and innovative waste solutions. Mr. Egl's career includes extensive experience in the waste management industry, and he is recognized for his ability to lead teams, manage complex operations, and foster relationships with key stakeholders.

Mr. Charles S. Schwager
VP and Chief Compliance & Ethics Officer

Charles S. Schwager served as the Chief Compliance and Ethics Officer at Waste Management, Inc., a leading provider of comprehensive waste management environmental services in North America. In his role, Schwager was responsible for overseeing the company's compliance with legal and regulatory requirements as well as managing its ethics programs, ensuring the company maintained the highest standards of ethical conduct. He played a key role in integrating compliance into the overall business strategy, focusing on risk management, operational performance, and promoting a culture of integrity within the organization. His contributions were instrumental in Waste Management's reputation as a leader in sustainability and responsible business practices. Prior to his compliance leadership, Schwager had diverse experience in legal and corporate affairs, enhancing his effectiveness in the compliance domain.

Ms. Kimberly Stith
Chief Human Resources Officer
No Bio Available
Mr. Michael J. Watson
Senior VP & Chief Customer Officer

Michael J. Watson is an accomplished executive known for his role at Waste Management, Inc., where he has made significant contributions to the company's strategic initiatives and operational excellence. As part of the leadership team, Watson has played a crucial role in advancing Waste Management's mission of environmental sustainability and innovation in waste management solutions. His initiatives often emphasize improving customer service, increasing efficiency in waste processing, and integrating technology to streamline operations. Watson's leadership style is characterized by a strong commitment to promoting sustainability and fostering a corporate culture that values environmental responsibility. Under his guidance, Waste Management has seen improvements in recycling rates and the adoption of cleaner technologies, contributing significantly to the company's reputation as a leader in the waste management industry. Watson's foresight and strategic planning continue to drive the company towards more sustainable and environmentally friendly practices. Watson's impressive career and his contributions to both Waste Management Inc. and the broader field of waste management have positioned him as a respected figure within the industry.

Mr. Christopher P. DeSantis
Senior Vice President of Operations

Christopher P. DeSantis is a prominent executive at Waste Management, Inc., a leading provider of comprehensive waste management services in North America. He holds the position of Executive Vice President and Chief Customer Officer. In this role, DeSantis is responsible for driving customer-centric strategies and enhancing customer experiences across the company's vast service network. Prior to his current role, DeSantis accumulated a wealth of experience in various leadership positions within the company, contributing significantly to its growth and operational efficiency. His expertise spans operations management, customer service, and strategic planning. DeSantis is known for his innovative approach to business challenges and his commitment to sustainability, aligning with Waste Management's goals of environmental responsibility and resource conservation. His leadership has been instrumental in implementing advanced technologies and practices that improve service delivery and customer satisfaction. DeSantis is recognized for his ability to foster a customer-focused culture within the organization, ensuring that customer needs are at the forefront of business decisions. Through his work at Waste Management, Christopher P. DeSantis continues to play a critical role in shaping the future of waste management services, prioritizing sustainability and customer engagement.

Contacts

Address
TEXAS
Houston
800 Capitol Street, Suite 3000
Contacts
+13026587581
www.wm.com