WM
Waste Management, Inc.218.90
+0.58+0.27%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Healthcare fixes, cross-sell shine
Q&A unpacked Healthcare Solutions' revenue softness from deferred price hikes, AR credits, and ERP glitches sparking mild churn, but cross-sell clicked with 7,000 small customers flipped and a major hospital boosting spend $5M. Synergies beat plans, margins climbed to 17.5%, ERP stabilizes by Q1'26 end. Natura plant idled amid plastics slump. Industrial volumes ticked up 1.2%, half from Healthcare internalization. Free cash flow eyes $3.8B in 2026 on capex unwind. Confident tone prevails. Watch Healthcare ramp.
Key Stats
Market Cap
88.19BP/E (TTM)
34.47Basic EPS (TTM)
6.35Dividend Yield
0.01%Recent Filings
8-K
Plan blackout starts Dec 24
Waste Management disclosed a blackout period for its Retirement Savings Plan due to a recordkeeper change effective January 1, 2026. It starts 4:00 p.m. ET December 24, 2025, ending the week of January 18, 2026, barring participants from trades, withdrawals, or loans—including Company stock funds. Directors and executives face Sarbanes-Oxley trading restrictions. Blackout dates available via Corporate Secretary.
10-Q
Q3 FY2025 results
Waste Management posted Q3 revenues of $6.4B, up 14.9% y/y from $5.6B, fueled by the Stericycle acquisition closed November 2024 for ~$7.2B enterprise value (cash, recognizing $3.8B goodwill and $3.5B intangibles including $2.3B customer relationships over 15 years) and 3.8% Collection and Disposal yield gains, yet operating income dipped 11.6% to $989M on $213M impairments from plastics recycling suspension and East Tier landfill closure. Diluted EPS fell to $1.49 from $1.88, matching 404M shares. Cash equivalents sit at $175M with $23.4B debt (4.2% avg senior notes rate) and $2.4B revolver availability. Free cash flow strengthened to $821M. Commodity price swings remain a drag.
8-K
Q3 revenue jumps 14.9%
WM reported Q3 revenue of $6,443M, up 14.9% year-over-year, fueled by WM Healthcare Solutions' $628M debut and 3.7% legacy growth amid 35% recycled commodity price plunge. Adjusted operating EBITDA hit $1,970M at 30.6% margin, with Collection and Disposal shining at 38.4%. Cash flow soared. Affirming full-year EBITDA ($7.475-7.625B) and FCF ($2.8-2.9B) guidance. Impairments stung recycling.
8-K
WM grants retention RSUs
Waste Management's board approved a one-time $2.1 million retention award of restricted stock units to Senior Vice President and Chief Sustainability Officer Tara J. Hemmer on August 21, 2025, granting on September 2. The RSUs vest 50% after two years and 50% after three, with protections for death, disability, or involuntary termination without cause. This move locks in key sustainability leadership amid growing environmental pressures.
8-K
WM CFO Rankin retires; Reed succeeds
Waste Management's CFO Devina Rankin announced her resignation on August 21, 2025, effective November 1, 2025, or shortly after the Q3 10-Q filing, to pursue education and nonprofit work; she'll advise through March 2026. David Reed, current VP for West Tier operations and former treasurer, succeeds her with a $700,000 base salary and $565,000 in RSUs vesting over three years. This smooth transition bolsters WM's finance leadership amid growth focus. Continuity reigns.
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