Waste Management Inc reported second-quarter 2026 results featuring a 35% increase in free cash flow and a 40-basis-point expansion in operating EBITDA margin. Operating EBITDA grew 5.5%, or 9.1% excluding last year's wildfire cleanup contributions, while free cash flow for the first six months surged more than 56% to $2.02 billion. The company's recycling and renewable energy segment delivered nearly 33% EBITDA growth, contributing a 30-basis-point uplift to total company margin, and healthcare solutions expanded its EBITDA margin by 200 basis points to 19%. Waste Management returned $1 billion in share repurchases and $764 million in dividends to shareholders, and it raised its full-year 2026 margin expectations by 20 basis points to a range of 31% to 31.2%. Despite softer-than-planned volume trends that narrowed the full-year revenue outlook by about 1.5%, management expressed confidence in its EBITDA and free cash flow guidance, citing better pricing execution and cost management.
Waste Management IncQ2 earnings show 35% FCF growth, margin expansion, raised guidance, and $1B buybacks.