Waste Management Revenue Rises 6.3% to $6.85 Billion as Recycling and Energy Grow

Waste Management, which operates under the name WM, reported third-quarter revenue of $6.846 billion on October 27, 2026, an increase of 6.3% from the same period a year earlier. The company said pricing and growth in its recycling and renewable-energy businesses contributed to the improvement.

Net income attributable to the company reached $820 million, up from $603 million a year earlier. Diluted earnings were $2.05 per share on a reported accounting basis, compared with $1.49 in the previous year's quarter. The adjusted earnings figure was $2.15 per share, which was below the $2.18 analyst consensus cited by independent research publisher StockStory.

WM's revenue of approximately $6.85 billion exceeded the $6.81 billion consensus estimate. The difference between the revenue beat and the adjusted earnings miss illustrates why a higher sales total does not automatically mean profit exceeded market expectations.

The company said its core price measure increased 5.8%, while yield in collection and disposal operations rose 3.4%. However, collection and disposal volumes fell 0.4%, reflecting the company's decision to leave some lower-margin residential contracts and other business losses. Revenue growth therefore came primarily from pricing and expanding activity in selected segments, not a broad increase in all waste volumes.

WM's healthcare solutions business recorded 3.7% revenue growth, with management reporting a substantial increase in operating earnings as it continued integrating operations. Its recycling and renewable-energy businesses also benefited from completed growth projects. These operations complement the company's core collection, landfill and waste-transfer services.

During the first nine months of 2026, WM generated $4.87 billion in cash from operating activities, up 12% from the prior-year period. The company reported $3.01 billion in free cash flow over the same period, compared with $2.11 billion a year earlier. Free cash flow is a non-GAAP measure that reflects operating cash after certain capital spending and should not be confused with net income.

The company returned $957 million to shareholders in the third quarter through share repurchases and dividends. Management reaffirmed its 2026 guidance and said it remained on track to meet its annual objectives. That guidance represents expectations for the remaining quarter rather than completed full-year results.

The results point to resilient pricing and cash generation in essential waste services, alongside the continuing challenge of balancing customer volumes, integration expenses and the costs of expanding environmental infrastructure.