Waste Management, Inc., through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity. As of December 31, 2022, the company owned or operated 254 solid waste landfills, five secure hazardous waste landfills, 97 MRFs, and 337 transfer stations. It also provides materials processing and commodities recycling services at its MRFs, where cardboard, paper, glass, metals, plastics, construction and demolition materials, and other recycling commodities are recovered for resale or redirected for other purposes; recycling brokerage services, such as managing the marketing of recyclable materials for third parties; and other strategic business solutions. In addition, the company offers construction and remediation services; services related with the disposal of fly ash, and residue generated from the combustion of coal and other fuel stocks; in-plant services comprising full-service waste management solutions and consulting services; and specialized disposal services for oil and gas exploration and production operations. The company was formerly known as USA Waste Services, Inc. and changed its name to Waste Management, Inc. in 1998. Waste Management, Inc. was incorporated in 1987 and is headquartered in Houston, Texas.

Waste Management, Inc.

WM WM reported dismal third-quarter 2025 results, with earnings and revenues missing the Zacks Consensus Estimate.
WM’s quarterly adjusted earnings of $1.98 per share missed the consensus mark by 1.5% but moved up 1% year over year. Total revenues of $6.4 billion missed the consensus mark by a slight margin but grew 14.9% from the year-ago quarter.
The stock has gained 6% in the year-to-date period, outperforming 5.6% growth of its industry, while falling short ofthe 16.7% rally of the Zacks S&P 500 Composite.
Waste Management, Inc. Price, Consensus and EPS Surprise
WM’s Quarterly Numbers in Detail
The Collection segment recorded revenues of $3.9 billion, a 3.5% increase from the year-ago quarter and missing our estimate of $4.1 billion. The Landfill segment’s top line increased 7.8% year over year to $995 million and surpassed our projection of $986.5 billion. Total revenues in the Transfer segment increased 8.5% to $396 million, beating our estimate of $391.5 million. The Recycling Processing and Sales segment’s revenues declined 13.9% to $372 million, missing our estimation of $432.3 million.
WM Renewable Energy registered revenues of $115 million, rising 32.2% from the year-ago quarter and outpacing our estimate of $103 million. WM Healthcare Solutions, and Corporate and Other recorded $635 million in revenues, missing our projection of $444.3 million. The figures are after the alignment of the intercompany adjustment.
The adjusted operating EBITDA was $2 billion, which missed our estimate of $1.9 billion and rose 15.1% from the year-ago quarter. The adjusted operating EBITDA margin increased 10 basis points to 30.6% from the year-ago quarter and surpassed our estimate of 30.1%.
Cash Flow of WM
WM generated $1.6 billion in cash from operating activities in the reported quarter, while capital expenditure was $635 million. The free cash flow was $821 million. In the third quarter of 2025, $332 million in cash dividends were distributed to shareholders.
WM’s 2025 Outlook
The company expects revenues of $25.275 billion for 2025. The guided figure is lower than the Zacks Consensus Estimate of $25.36 billion. Adjusted operating EBITDA is expected to be $7.475-$7.625 billion.
WM carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Snapshot
Waste Connections, Inc. WCN reported impressive third-quarter 2025 results.
Waste Connections’ adjusted earnings (excluding 33 cents from non-recurring items) of $1.44 per share surpassed the Zacks Consensus Estimate by 4.4% and increased 6.7% year over year. Revenues of $2.5 billion beat the consensus estimate marginally and grew 5.1% from the year-ago quarter.
Equifax Inc. EFX posted impressive third-quarter 2025 results.
EFX’s adjusted earnings were $2.04 per share, outpacing the Zacks Consensus Estimate by 5.7% and increasing 10.3% from the year-ago quarter. Total revenues of $1.5 billion surpassed the consensus estimate by 1.5% and grew 6.9% on a year-over-year basis.
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WM Earnings Miss Estimates in Q3, Revenues Appreciate 15% Y/Y

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Waste Management Q3 25 Earnings Conference Call At 10:00 AM ET

For the quarter ended September 2025, Waste Management (WM) reported revenue of $6.44 billion, up 14.9% over the same period last year. EPS came in at $1.98, compared to $1.96 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.49 billion, representing a surprise of -0.71%. The company delivered an EPS surprise of -1.49%, with the consensus EPS estimate being $2.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Waste Management performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Internal Revenue Growth - Period-to-Period Change - Total - As a % of Total Company: 14.9% compared to the 15.8% average estimate based on six analysts.
Internal Revenue Growth - Period-to-Period Change - Volume - As a % of Total Company: 0.8% compared to the 0.4% average estimate based on four analysts.
Internal Revenue Growth - Period-to-Period Change - Internal revenue growth - As a % of Total Company: 3% versus 4.9% estimated by four analysts on average.
Internal Revenue Growth - Period-to-Period Change - Acquisitions - As a % of Total Company: 11.9% compared to the 10.5% average estimate based on three analysts.
Internal Revenue Growth - Period-to-Period Change - Total average yield - As a % of Total Company: 2.2% versus 5.6% estimated by two analysts on average.
Operating revenues- WM Renewable Energy: $115 million versus the four-analyst average estimate of $129.5 million. The reported number represents a year-over-year change of +32.2%.
Operating revenues- WM Healthcare Solutions: $628 million versus $587.33 million estimated by four analysts on average.
Operating revenues- Recycling Processing and Sales: $372 million versus $395.44 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.9% change.
Operating revenues- Corporate and Other: $7 million versus the two-analyst average estimate of $5.7 million. The reported number represents a year-over-year change of +16.7%.
Shares of Waste Management have returned -1.8% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Waste Management (WM) Q3 Earnings: A Look at Key Metrics

Waste Management (WM) came out with quarterly earnings of $1.98 per share, missing the Zacks Consensus Estimate of $2.01 per share. This compares to earnings of $1.96 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -1.49%. A quarter ago, it was expected that this garbage and recycling hauler would post earnings of $1.89 per share when it actually produced earnings of $1.92, delivering a surprise of +1.59%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Waste Management, which belongs to the Zacks Waste Removal Services industry, posted revenues of $6.44 billion for the quarter ended September 2025, missing the Zacks Consensus Estimate by 0.71%. This compares to year-ago revenues of $5.61 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Waste Management shares have added about 6.4% since the beginning of the year versus the S&P 500's gain of 15.5%.
What's Next for Waste Management?
While Waste Management has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Waste Management was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.00 on $6.48 billion in revenues for the coming quarter and $7.55 on $25.36 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Waste Removal Services is currently in the bottom 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Clean Harbors (CLH), another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on October 29.
This environmental services company is expected to post quarterly earnings of $2.37 per share in its upcoming report, which represents a year-over-year change of +11.8%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level.
Clean Harbors' revenues are expected to be $1.58 billion, up 3.1% from the year-ago quarter.
Should You Invest in Waste Management, Inc. (WM)?
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Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Waste Management (WM) Misses Q3 Earnings and Revenue Estimates

(RTTNews) - Waste Management Inc (WM) revealed a profit for third quarter that Decreased from the same period last year and missed the Street estimates.
The company's earnings came in at $603 million, or $1.49 per share. This compares with $760 million, or $1.88 per share, last year.
Excluding items, Waste Management Inc reported adjusted earnings of $801 million or $1.98 per share for the period.
Analysts on average had expected the company to earn $2.01 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 14.9% to $6.443 billion from $5.609 billion last year.
Waste Management Inc earnings at a glance (GAAP) :
-Earnings: $603 Mln. vs. $760 Mln. last year. -EPS: $1.49 vs. $1.88 last year. -Revenue: $6.443 Bln vs. $5.609 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Waste Management Inc Q3 Profit Decreases, Misses Estimates

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Bed Bath & Beyond Inc (Symbol: BBBY), where a total of 11,511 contracts have traded so far, representing approximately 1.2 million underlying shares. That amounts to about 45.2% of BBBY's average daily trading volume over the past month of 2.5 million shares. Particularly high volume was seen for the $12.50 strike call option expiring November 21, 2025, with 5,720 contracts trading so far today, representing approximately 572,000 underlying shares of BBBY. Below is a chart showing BBBY's trailing twelve month trading history, with the $12.50 strike highlighted in orange:
Waste Management, Inc. (Symbol: WM) options are showing a volume of 5,997 contracts thus far today. That number of contracts represents approximately 599,700 underlying shares, working out to a sizeable 44.1% of WM's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $220 strike call option expiring November 21, 2025, with 1,242 contracts trading so far today, representing approximately 124,200 underlying shares of WM. Below is a chart showing WM's trailing twelve month trading history, with the $220 strike highlighted in orange:
And Bristol Myers Squibb Co. (Symbol: BMY) options are showing a volume of 76,404 contracts thus far today. That number of contracts represents approximately 7.6 million underlying shares, working out to a sizeable 43.9% of BMY's average daily trading volume over the past month, of 17.4 million shares. Especially high volume was seen for the $40 strike put option expiring September 18, 2026, with 7,226 contracts trading so far today, representing approximately 722,600 underlying shares of BMY. Below is a chart showing BMY's trailing twelve month trading history, with the $40 strike highlighted in orange:
For the various different available expirations for BBBY options, WM options, or BMY options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Monday Option Activity: BBBY, WM, BMY

The following companies are expected to report earnings after hours on 10/27/2025. Visit our Earnings Calendar for a full list of expected earnings releases.
Welltower Inc. (WELL)is reporting for the quarter ending September 30, 2025. The reit company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.30. This value represents a 17.12% increase compared to the same quarter last year. In the past year WELL has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 4.92%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for WELL is 34.75 vs. an industry ratio of 12.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Cadence Design Systems, Inc. (CDNS)is reporting for the quarter ending September 30, 2025. The computer software company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.43. This value represents a 14.40% increase compared to the same quarter last year. CDNS missed the consensus earnings per share in the 4th calendar quarter of 2024 by -1.32%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CDNS is 63.09 vs. an industry ratio of 23.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Waste Management, Inc. (WM)is reporting for the quarter ending September 30, 2025. The waste removal company's consensus earnings per share forecast from the 13 analysts that follow the stock is $2.01. This value represents a 2.55% increase compared to the same quarter last year. WM missed the consensus earnings per share in the 4th calendar quarter of 2024 by -5.03%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for WM is 28.43 vs. an industry ratio of 59.70.
NXP Semiconductors N.V. (NXPI)is reporting for the quarter ending September 30, 2025. The semiconductor company's consensus earnings per share forecast from the 10 analysts that follow the stock is $2.74. This value represents a 9.57% decrease compared to the same quarter last year. NXPI missed the consensus earnings per share in the 1st calendar quarter of 2025 by -0.46%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for NXPI is 21.51 vs. an industry ratio of 18.60, implying that they will have a higher earnings growth than their competitors in the same industry.
The Hartford Insurance Group, Inc. (HIG)is reporting for the quarter ending September 30, 2025. The insurance (property & casualty) company's consensus earnings per share forecast from the 9 analysts that follow the stock is $3.13. This value represents a 23.72% increase compared to the same quarter last year. In the past year HIG has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 23.1%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for HIG is 10.59 vs. an industry ratio of 12.70.
Celestica, Inc. (CLS)is reporting for the quarter ending September 30, 2025. The electrical company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.33. This value represents a 43.01% increase compared to the same quarter last year. CLS missed the consensus earnings per share in the 1st calendar quarter of 2025 by -0.99%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CLS is 59.21 vs. an industry ratio of 37.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Arch Capital Group Ltd. (ACGL)is reporting for the quarter ending September 30, 2025. The insurance (property & casualty) company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.14. This value represents a 7.54% increase compared to the same quarter last year. In the past year ACGL has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 11.69%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for ACGL is 10.15 vs. an industry ratio of 12.70.
Nucor Corporation (NUE)is reporting for the quarter ending September 30, 2025. The steel company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.15. This value represents a 44.30% increase compared to the same quarter last year. NUE missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -0.76%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for NUE is 18.30 vs. an industry ratio of 8.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Brown & Brown, Inc. (BRO)is reporting for the quarter ending September 30, 2025. The insurance brokers company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.90. This value represents a 1.10% decrease compared to the same quarter last year. BRO missed the consensus earnings per share in the 1st calendar quarter of 2025 by -0.77%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for BRO is 21.20 vs. an industry ratio of 16.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Cincinnati Financial Corporation (CINF)is reporting for the quarter ending September 30, 2025. The insurance (property & casualty) company's consensus earnings per share forecast from the 9 analysts that follow the stock is $2.01. This value represents a 41.55% increase compared to the same quarter last year. CINF missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -2.74%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CINF is 24.52 vs. an industry ratio of 12.70, implying that they will have a higher earnings growth than their competitors in the same industry.
FTAI Aviation Ltd. (FTAI)is reporting for the quarter ending September 30, 2025. The aerospace and defense company's consensus earnings per share forecast from the 1 analyst that follows the stock is $1.19. This value represents a 56.58% increase compared to the same quarter last year. FTAI missed the consensus earnings per share in the 1st calendar quarter of 2025 by -7.45%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for FTAI is 36.91 vs. an industry ratio of 60.50.
Principal Financial Group Inc (PFG)is reporting for the quarter ending September 30, 2025. The insurance company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.18. This value represents a 23.86% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for PFG is 9.56 vs. an industry ratio of 9.00, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After-Hours Earnings Report for October 27, 2025 : WELL, CDNS, WM, NXPI, HIG, CLS, ACGL, NUE, BRO, CINF, FTAI, PFG

Key Points
The Gates Foundation Trust is the repository for the stocks that support the billionaire's charitable endeavors.
Most of the Trust's key holdings have long track records of success.
Some of these industry stalwarts pay a dividend, with this steady stream of income augmenting the Trust's charitable giving.
Most investors are familiar with Bill Gates, the billionaire philanthropist who cofounded Microsoft (NASDAQ: MSFT). After heading up the technology conglomerate for 25 years, the chief executive stepped down to spend more time focusing on his charitable work. Gates is worth an estimated $106 billion, according to Forbes, making him the 18th richest person in the world.
The vehicle established to support his charitable endeavors is the Gates Foundation Trust. The mission of the trust is "to create a world where every person has the opportunity to live a healthy, productive life." The foundation has donated more than $100 billion over the past 25 years, "taking on the toughest, most important problems."
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While the Foundation owns stakes in dozens of companies, in the second quarter (the most recent data available), several well-known stocks top the list.
1. Microsoft: 27%
Given Gates' long history with the company, it shouldn't be a surprise that Microsoft tops the list -- particularly since he seeds the Trust through ongoing donations of Microsoft shares. The Gates Foundation owns more than 26 million shares of Microsoft stock, valued at $13 billion.
After it stagnated for more than a decade, CEO Satya Nadella breathed new life into the industry stalwart, making it a cloud staple and an artificial intelligence (AI) powerhouse in the process.
In the calendar second quarter, Microsoft Azure was the world's second-largest cloud infrastructure provider, controlling 20% of the market, according to data aggregator Statista. It was also the fastest-growing of the "Big Three" cloud providers, growing 34% year over year. Total cloud revenue of $29.9 billion now accounts for 39% of Microsoft's total revenue and is its fastest-growing business segment. Demand for AI is helping fuel the company's cloud growth.
Finally, Microsoft's dividend track record stretches back to 2004, notching 16 consecutive annual increases. While the dividend yield is a seemingly paltry 0.7%, the stock has returned 140% over the past five years. Furthermore, its payout ratio of 23% is at its lowest level in 10 years. That gives Microsoft plenty of resources to boost its dividend for the foreseeable future.
2. Berkshire Hathaway: 25%
Warren Buffett and Gates cofounded the Giving Pledge in 2010, and Buffett plans to (eventually) donate all his Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) stock to charity. Thus far, the Oracle of Omaha has given away more than $60 billion, encouraging other billionaires to take the pledge. It isn't surprising, then, that the Gates Foundation holds more than 24 million shares of Berkshire Hathaway stock, valued at $11.7 billion.
While the shares were donated, the Foundation has good reason to hold them. Berkshire's broad cross-section of businesses provides solid diversification and steady cash flow until the stock is liquidated to support charitable causes. Furthermore, despite its stodgy reputation, Berkshire stock has gained 135% over the past five years, outpacing the 96% returns of the S&P 500 (SNPINDEX: ^GSPC).
Given Buffett's plans to step down this year, he's leaving the company in good hands, so it's not surprising that Berkshire stock represents such a large part of the Trust's holdings.
3. Waste Management: 15%
One person's trash is another person's treasure, according to the old adage, which helps make the case for Waste Management (NYSE: WM). That also helps to explain why the Gates Foundation holds a stake of more than 32 million shares of Waste Management stock, valued at nearly $7.4 billion.
Trash collection and recycling might also qualify as "stodgy" businesses, but these essential services generate consistent cash flow -- something Gates and Buffett both like. Furthermore, the company is expanding its services by diverting organic waste from its landfills and converting it into green energy to generate electricity or fuel vehicles.
Then there's the dividend, which Waste Management has boosted for 21 years running, currently yielding 1.5%. With a payout ratio of 46%, there's likely plenty more where that came from.
4. Canadian National Railway: 12%
Another industry that bears the Buffett seal of approval is railroads. Berkshire Hathaway famously bought up Burlington Northern Santa Fe lock, stock, and barrel in 2009. At the time, Buffett said railroads were a very "cost-effective way" to move goods, releasing "far fewer pollutants into the atmosphere." As a student of Buffett, it's no wonder the Gates Foundation holds nearly 55 million shares of Canadian National Railway (NYSE: CNI), worth $5.7 billion.
The company is the largest rail network in Canada and the only North American railway connecting the Atlantic, Pacific, and Gulf Coasts, giving it a dominant position on the continent. Furthermore, railroads are generally much more efficient than even long-haul trucking. Add to that steep barriers to entry and a wide economic moat, and it's easy to see the allure.
Finally, Canadian National has consistently increased its dividend for 20 consecutive years and currently yields nearly 2.7%. Its relatively low payout ratio of 48% suggests its track record of payout increases will likely continue.
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Danny Vena has positions in Canadian National Railway and Microsoft. The Motley Fool has positions in and recommends Berkshire Hathaway and Microsoft. The Motley Fool recommends Canadian National Railway and WM and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Billionaire Bill Gates Has 79% of His $48 Billion Portfolio Invested in Just 4 Stocks

WM WM is scheduled to release third-quarter 2025 results on Oct. 27, after market close.
WM’s earnings surprise history has been decent. It surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average beat being 0.8%.
Waste Management, Inc. Price, Consensus and EPS Surprise
WM’s Q3 Expectations
The Zacks Consensus Estimate for revenues is set at $6.5 billion, indicating a 15.7% rise from the year-ago quarter’s actual. The top line is expected to have benefited from an impressive segmental performance with particular strength in the Collection and Landfill segments.
We anticipate revenues from Collection to be $4.7 billion, suggesting an 8.6% increase on a year-over-year basis. Our expectation for Landfill’s revenues is $1.4 billion, implying 4.7% growth from the year-ago quarter’s actual.TheTransfer segment’s revenues are estimated to be $687 million, hinting at a 7.2% rise on a year-over-year basis.
The Recycling Processing and Sales segment’s revenues are expected to be $521.3 million, aiming at a 3.6% increment from the year-ago quarter’s actual. WM Renewable Energy is anticipated to be $104.4 million, increasing 18.7% year over year. WM Healthcare Solutions is estimated to generate $444.1 million in revenues.
Our expectation for adjusted EBITDA is $1.9 billion, indicating a 13.5% increment from the year-ago quarter’s reported figure.
The consensus estimate for earnings per share is pinned at $2.01, hinting at 2.6% growth from the year-ago quarter’s actual. Prudent expense management is anticipated to have augmented the bottom line.
What Our Model Predicts About WM
Our proven model does not conclusively predict an earnings beat for WM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
WM has an Earnings ESP of -0.37% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the broader Business services sector, which, according to our model, have the right combination of elements to beat on earnings this season.
AppLovin APP: The Zacks Consensus Estimate for the company’s third-quarter 2025 revenues is pegged at $1.3 billion, indicating 11.9% year-over-year growth. For earnings, the consensus estimate is pegged at $2.36 per share, implying an 88.8% surge from the year-ago quarter’s actual. The company beat the consensus estimate in the trailing four quarters, with an average surprise of 22.4%.
APP has an Earnings ESP of +2.46% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to declare its third-quarter 2025 results on Nov. 5.
FirstCash FCFS: The Zacks Consensus Estimate for the company’s third-quarter 2025 revenues is $839.6 million, suggesting a marginal year-over-year rise. For earnings, the consensus estimate is pegged at $1.91 per share, indicating a 14.4% increase from the year-ago quarter’s actual. The company beat the consensus estimate in the trailing four quarters, with an average surprise of 9.2%.
FCFS has an Earnings ESP of +3.67% and a Zacks Rank of 2 at present. The company is scheduled to declare third-quarter 2025 results on Oct. 30.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

WM Gears Up to Post Q3 Earnings: Here's What You Should Know

Key Points
WM is the largest waste management company in North America.
It has delivered robust returns for shareholders over the past decade.
It's in a strong position to continue growing at a healthy rate in the coming years.
Whoever first quipped "one person's trash is another's treasure" was on to something. Houston-based Waste Management (NYSE: WM) has turned trash collection and disposal into a very lucrative enterprise. It generated $22 billion in revenue last year and pocketed nearly $3 billion in profit.
Demand for WM's services continues to grow, making it a reliable long-term investment. Here's why this Texas-based company could be a great addition to your portfolio.
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Turning trash into cash
Waste Management, or WM for short, is the leading provider of comprehensive waste management environmental services in North America. The vertically integrated industrial company has unmatched size and scale in the industry. It collects waste from commercial, industrial, residential, and other customers. The company also owns and operates transfer stations and landfills to support its operations and third-party customers. Additionally, it provides recycling services, medical waste services for healthcare companies, and generates renewable energy.
The bulk of the company's revenue comes from providing collection, transfer, and disposal services (89% last year). It provides collection services to customers under long-term contracts that typically last three years. Those agreements set pricing based on an index or one that increases prices at a market-based rate. As a result, WM's collection business generates very stable revenue that steadily rises. Over the past five years, its collection and disposal revenue has grown at around a 6% annual rate.
Recycling, healthcare solutions, and renewable energy are smaller but faster-growing segments. The company recently entered the growing healthcare waste market through its acquisition of Stericycle for $7.2 billion, adding a platform to capitalize on increased demand for regulated medical waste services. WM is also investing $3 billion through next year on 39 new or upgraded high-tech recycling facilities and 20 new renewable natural gas (RNG) facilities at its landfills. Expanding these businesses generates incremental earnings and opens new growth pathways for the company.
A long-term winner with a bright future
WM's simple business model has delivered stellar results for shareholders over the years. The company has produced a nearly 400% total return over the past decade (17.4% annualized). That has beaten the S&P 500, which is up over 290% during that period (14.6% annualized).
The company is in a strong position to continue producing robust returns. WM's core collections and disposal business should continue to deliver steady revenue and earnings growth. It should benefit from inflation-driven price increases, volume growth as it collects more garbage, and its cost-management initiatives. Additionally, the company has a rock-solid, A-rated balance sheet, giving it ample financial flexibility to continue making acquisitions. While it has the largest share of the $125 billion U.S. and Canadian waste and recycling industry market at $22.1 billion in revenue, it's highly fragmented, as small, private waste management companies control half the market. That provides WM with lots of opportunities to continue making smaller tuck-in acquisitions to grow its collection and disposal business even faster.
Meanwhile, the company's growing investments in recycling, renewable energy, and healthcare solutions will further enhance its ability to grow shareholder value. The company still has 10 new or automated recycling facilities under construction and 12 new RNG plants to complete as part of its $3 billion in sustainability investments planned through next year. Once complete, this investment will generate a combined $600 million in incremental annual free cash flow for the company by 2027. The company should have ample opportunities to continue investing in sustainability initiatives in the future. For example, WM sees lots of potential to recycle food waste and has ample opportunities to build additional RNG plants at its landfills.
Additionally, the Stericycle deal provided a foundational platform to capitalize on the growing need for medical waste solutions. Aging populations, increasing chronic health conditions, and rising hospital occupancy levels should drive faster volume growth for this business compared to its core solid waste business.
These catalysts drive the company's forecast that it can grow its revenue to around $29 billion by 2027, a more than 9% compound annual growth rate. That positions it to grow its annual free cash flow to more than $4 billion, a nearly 8% compound annual rate. This growing excess free cash will enable WM to continue investing in growth-related sustainability projects while returning more cash to investors through share repurchases and a growing dividend. WM has increased its dividend for 22 straight years, including by 10% late last year.
A great long-term investment
WM has a knack for turning trash into treasure for its shareholders. The leading environmental service provider has grown its revenue and earnings at strong rates, enabling it to deliver robust total returns. It's in an excellent position to continue growing shareholder value in the future, making it look like an ideal long-term holding.
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Matt DiLallo has positions in WM. The Motley Fool recommends WM. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	33.53 21.58
Price/Sales	4.17 1.29
P/B	11.11 2.25
P/FCF	42.66 17.83

Indicator	TTM Median
ROE	35.71 15.71
ROA	7.53 6.45
ROI	10.82 9.56
Net Worth	92.10 1.27
Quick Ratio	0.73 1.16
Current Ratio	0.76 1.57

Indicator	TTM Median
Net Profit Margin	12.45 7.31
Operating Margin	18.42 10.18
Gross Margin	39.34 32.50
Return on tangible equity	0.00 25.81

Indicator	TTM Median
EPS	1.67 0.49
EPS Forecast	1.65 0.53
Revenue	5.89B 194.00M
Gross Profit	2.34B —
EBITDA	1.61B —

Waste Management, Inc.

TTM metrics for the latest quarter under IFRS and their historical dynamics

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