AI Earnings Predictions for Waste Management Inc. (WM)

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

WM Announces Second Quarter 2026 Earnings

Cash Flow from Operations Increases Nearly 12%, Supporting the Return of More Than $1 Billion to Shareholders During the Quarter

WM Completes Four Sustainability Growth Projects and Releases its 2026 Sustainability Report

Houston — July 28, 2026 — WM (NYSE: WM) today announced financial results for the quarter ended June 30, 2026.

Three Months Ended Three Months Ended

June 30, 2026

(in millions, except per share amounts) June 30, 2025

(in millions, except per share amounts)

As Reported As Adjusted(a) As Reported As Adjusted(a)

Revenue $6,684 $6,684 $6,430 $6,430

Income from Operations $1,253 $1,290 $1,151 $1,215

Operating EBITDA(b) (c) $2,030 $2,067 $1,895 $1,959

Operating EBITDA Margin 30.4% 30.9% 29.5% 30.5%

Net Income(d) $785 $813 $726 $777

Diluted EPS $1.95 $2.02 $1.80 $1.92

“Second quarter earnings growth, margin expansion, and cash flow generation reflect the strength of our business model and consistent execution from the WM team,” said Jim Fish, WM’s CEO. “Adjusted operating EBITDA grew 5.5%, or 9.1% when removing contributions from wildfire cleanup activities in the prior year. Each of our operating segments contributed to growth in adjusted operating EBITDA and margin, led by the Collection and Disposal business and bolstered by our healthcare and sustainability businesses. The momentum across our operations and our confidence in the ability to execute our strategy position us well to achieve strong 2026 results.”(a)

Fish continued, “Our results continue to demonstrate our ability to harvest the benefits of our strategic investments in technology and automation, sustainability growth projects, and our healthcare business. Growth and productivity gains across our diversified portfolio, anchored by our Collection and Disposal business, drove a nearly 12% increase in cash flow from operations. With a strong balance sheet, industry-leading asset network, and significant technology runway ahead, we are confident in our ability to deliver long-term value for shareholders.”

KEY HIGHLIGHTS FOR the SECOND quarter OF 2026

·Revenue grew 4.0%, driven by core price of 5.7% and Collection and Disposal yield of 3.6%. In addition to disciplined execution on pricing, revenue growth was driven by increased volumes in the recycling and renewable energy businesses as a result of completed growth projects as well as higher energy surcharges.(e)

·Collection and Disposal volume declined 1.8%, primarily due to wildfire cleanup activities that benefited the prior year period. Excluding prior year’s wildfire cleanup activity, landfill volumes grew 1.7% and Collection and Disposal volume declined 0.4%. While intentional shedding of lower-margin residential business drove a portion of the Collection and Disposal volume decline, residential volume losses have begun to slow, as anticipated, with losses improving sequentially by 210 basis points.

·Operating expenses were 59.2% of revenue, in-line with prior year despite higher fuel-related expenses, demonstrating the Company’s continued commitment to using technology and automation to optimize costs and enhance operational efficiency.

·SG&A

expenses were 10.2% of revenue, or 9.9% on an adjusted basis, an improvement of 60 basis points both on a reported and adjusted basis from the prior year, reflecting strong cost discipline and continued synergy capture in Healthcare Solutions.(a)

·Total Company operating EBITDA margin expanded 90 basis points, or 40 basis points on an adjusted basis, in the second quarter, overcoming a 60-basis point headwind from prior year wildfire cleanup volumes and a 40-basis point headwind from the impact of higher energy surcharges. (a)

·Collection and Disposal operating EBITDA grew by $104 million, or $79 million on an adjusted basis. Growth overcame a 70-basis point headwind to the segment from wildfire cleanup contributions in the prior year and was driven by favorable price-to-cost spread, reflecting the Company’s continued success in reducing frontline turnover and disciplined cost management initiatives.(a)

·Together, operating EBITDA in the recycling and renewable energy businesses grew $39 million, or $40 million on an adjusted basis, an increase of 32.5% compared to last year driven by higher recycling volumes, efficiencies from automation projects, and increased renewable natural gas production.(a)(f)

·Operating EBITDA grew by $25 million, or $11 million on an adjusted basis, in the Healthcare Solutions business, driven by effective SG&A cost management and benefits from integration with core Collection and Disposal operations.(a)

·The Company generated $1.73 billion of net cash provided by operating activities compared to $1.55 billion in the prior year period, primarily driven by operating EBITDA growth and working capital improvements. Free cash flow was $1.10 billion, compared to $818 million in the prior year

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

WM Announces First Quarter 2026 Earnings

Strong Performance Drives Cash Flow from Operations 24% Higher to $1.5 Billion

The Company Reaffirms its Full-Year Financial Outlook

WM Completes Three Recycling Facilities Adding Key Capacity in Growing Markets

Houston — April 28, 2026 — WM (NYSE: WM) today announced financial results for the quarter ended March 31, 2026.

Three Months Ended

Three Months Ended

March 31, 2026 (in millions, except per share amounts)

March 31, 2025

(in millions, except per share amounts)

As Reported As Adjusted(a)

As Reported As Adjusted(a)

Revenue $6,227 $6,227

$6,018 $6,018

Income from Operations $1,113 $1,118

$1,013 $1,059

Operating EBITDA(b) (c) $1,848 $1,853

$1,704 $1,750

Operating EBITDA Margin 29.7% 29.8%

28.3% 29.1%

Net Income(d) $723 $731

$637 $673

Diluted EPS $1.79 $1.81

$1.58 $1.67

“Strong earnings and cash flow results in the quarter achieved our expectations, reflecting the strength of the WM team and the resilience of our business model,” said Jim Fish, WM’s CEO. “Disciplined pricing, cost optimization and contributions from sustainability growth projects led to first quarter adjusted operating EBITDA growth of 5.9% and margin expansion of 70 basis points despite a challenging quarter of weather impacts.(a) The momentum in our business, combined with our confidence in our ability to execute on our plan for the balance of the year, sets us up to achieve the full-year financial outlook we provided last quarter.”

Fish continued, “Our start to 2026 strengthens our conviction in the ability to harvest the benefits of our strategic investments in recycling, renewable energy, a medical waste platform, technology, and our fleet, as free cash flow nearly doubled in the quarter compared to prior year.(a) We allocated the majority of first quarter free cash flow to shareholders, returning nearly $730 million through dividends and share repurchases during the quarter. Our balance sheet remains flexible, reflecting our financial discipline and positioning WM to capitalize on opportunities in any economic environment.”

KEY HIGHLIGHTS FOR the fIRST quarter OF 2026

·Adjusted operating EBITDA grew 5.9%, with margin expanding 70 basis points.(a) Performance was led by the Collection and Disposal business, driven by disciplined price execution, operating cost control, and continued optimization of business mix.

·Collection and Disposal operating EBITDA grew by $154 million and margin expanded 190 basis points. On an adjusted basis, operating EBITDA grew by $118 million and margin expanded 110 basis points. The improvement was driven by favorable price-to-cost spread as the Company invests in making improvements in frontline retention and leverages technology and automation to reduce costs.(a)

·Together, operating EBITDA in the Recycling and Renewable Energy businesses grew $51 million, or $49 million on an adjusted basis, driven by increased renewable natural gas production from growth projects as well as higher recycling volumes and benefits from automation projects.(a)(e)

·Operating EBITDA grew by 18.4%, or 11.6% on an adjusted basis, in the Healthcare Solutions business, driven by effective SG&A cost management and synergy capture.(a)

·Revenue grew 3.5%, driven by core price of 6.3% and collection and disposal yield of 3.9%. In addition to strong execution on pricing, revenue growth was driven by increased volumes in the Recycling and Renewable Energy businesses from completed growth projects.(f)

·Collection and disposal volume declined 1.5%, primarily due to the impacts of harsh winter weather, intentional shedding of lower-margin residential business, and wildfire cleanup activities that benefitted the prior year period. These volume declines were partially offset by growth in MSW volume.

·Operating expenses were 59.3% of revenue, or 59.2% on an adjusted basis, which was an improvement of 70 basis points both on a reported and adjusted basis from the prior year and reflects the Company’s commitment to using technology and automation to optimize its cost structure and enhance operational efficiency.(a)(c)

·The Company generated $1.5 billion of net cash provided by operating activities compared to $1.21 billion in the prior year period, primarily driven by operating EBITDA growth and working capital improvements. Free cash flow was $920 million, compared to $475 million in the prior year period.(a)

·The Company returned $729 million to shareholders in the first quarter, including $385 million in cash dividends and $344 million of share repurchases.

·During the quarter, the Company’s leverage ratio returned to its target range of between 2.5 to 3.0 times total debt to EBITDA.(g)

·The Company began operations at new recycling facilities in Ontario and Detroit and completed a recycling automation project in South Florida, which is now its largest single stream facility. Together, the projects ad

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WASTE MANAGEMENT INC

0000823768

2026-01-28 2026-01-28

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SECURITIES AND

EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 28, 2026

Waste Management, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware

1-12154

73-1309529

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS

Employer

Identification No.)

800 Capitol Street, Suite 3000, Houston, Texas

77002

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone number, including area code: (713) 512-6200

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.01 par value WM New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

Waste Management, Inc. (the “Company”) issued a press release today announcing its financial results for the fourth quarter and full year ended December 31, 2025, a copy of which is furnished as Exhibit 99.1 to this Form 8-K. The Company is conducting an audio webcast to discuss these results beginning at 10:00 a.m. Eastern Time on January 29, 2026. Listeners can access the live audio webcast by visiting investors.wm.com and selecting “Events & Presentations” from the website menu. A replay of the audio webcast will be available at the same location.

On the webcast, management of the Company is expected to discuss certain non-GAAP financial measures. The Company has provided information regarding its use of non-GAAP measures and reconciliations of such measures to their most comparable GAAP measures in the notes and tables that accompany the press release.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Index

Exhibit

Number

Description

99.1

Press Release dated January 28, 2026

104

Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

WASTE MANAGEMENT, INC.

Date: January 28, 2026 By: /s/ Charles C. Boettcher

Charles C. Boettcher

Executive Vice President and Chief Legal Officer