Description

Waste Management Is Not Just A Trash Hauler — Recycling EBITDA Jumps 33%!

WM Waste Management, Inc. reported its second quarter 2026 financial results with mixed operational trends balanced by positive initiatives in pricing, cost management, and strategic investments. The company achieved 5.5% growth in operating EBITDA, or 9.1% excluding prior-year wildfire cleanup contributions, along with a 40 basis point expansion in operating EBITDA margin despite facing headwinds from wildfire-related volumes and increased energy surcharges. Collection and disposal activities contributed notably to margin improvement through disciplined pricing, cost optimization, and favorable business mix. Revenue growth was driven mainly by price yields exceeding expectations, supported by ongoing technology investments and automation efforts, including the rollout of proprietary AI-enabled SmartTruck systems. These operational enhancements helped restrain increases in collection operating costs to below 1.7%, despite labor inflation of approximately 4%.