WM
Waste Management, Inc.218.90
+0.58+0.27%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Macro optimism, Healthcare details emerge
Q&A signaled brighter macro outlook, with industrial volumes flattening after 7-8 quarters of 3-4% declines and residential shedding easing to -0.5% by H2 2026. Healthcare Solutions detailed 3% top-line growth via 4.2% pricing despite lost accounts anniverseing H2, cross-sell synergies on track to exceed $50M, SG&A cuts beating $80-100M target, and Q4 credit memos peaking for better realization. Margins target 50bps same-store expansion ex-wildfires, driven by collection/disposal. Sustainability '27 EBITDA trimmed on lower commodities ($125 to $70/ton) and opex, yet recycling grew 22% despite 18-20% price drop. Industrial volumes finally stabilized. Management stayed confident; investors eye Healthcare growth, volume rebound.
Key Stats
Market Cap
88.19BP/E (TTM)
34.47Basic EPS (TTM)
6.35Dividend Yield
0.01%Recent Filings
8-K
8-K
8-K
Execs get PSUs, options
Waste Management granted 2026 annual incentive awards to executives including CEO Fish (49,350 PSUs, 57,034 options at $241.55 strike) on March 3, tying PSUs to cash flow ($11.36B-$13.36B threshold-max) and TSR vs. S&P 500 through 2028. Options vest over three years. Aligns leadership with cash generation and returns.
10-K
FY2025 results
Waste Management delivered FY2025 revenues of $25.2B, up 14% y/y, fueled by the Stericycle acquisition and 3.8% Collection and Disposal yield while volumes rose 0.9% on West Tier landfill strength from wildfire cleanup. Q4 accelerated with core pricing momentum and special waste, offsetting residential exits, as margins held firm despite integration costs and commodity headwinds that drove a $160M Recycling impairment. Free cash flow hit $2.9B, supporting a 14.5% dividend hike to $0.945/share and $3B buyback resumption. Debt stands manageable post-Stericycle, yet Stericycle integration drags Healthcare Solutions.
8-K
WM smashes 2025 records
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