Filing Flows › Waste Management (WM) › Q1 2025
Waste Management (WM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Waste Management (WM) reported revenue of $6.0B for the first quarter 2025 (Q1 2025), +17% from a year earlier and +2% from the quarter before. Operating margin was 16.8%, net earnings $637M (10.6% of revenue).
Waste Management, Q1 2025: revenue $6.0B (+17% year over year), operating margin 16.8%, net earnings $637M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0B | +2% | +17% |
| Operating profit | $1.0B | +10% | -0.3% |
| Net earnings | $637M | +7% | -10% |
| Operating cash flow | $1.2B | -20% | -12% |
| Free cash flow | $377M | -5% | -46% |
What changed
Revenue was $6.0B in Q1 2025, up 17% year over year and up 2% from the previous quarter. Commercial was the largest line at 23% of revenue. Commercial added $0.06B year over year (up 5%), 7% of the total change. Corporate and other declined 67%.
Operating profit was $1.0B, a 16.8% margin (down 2.9 points year over year). Operating profit fell $3.0M even though revenue rose $0.86B versus a year earlier, so costs grew faster than sales. Total costs grew 21% against revenue growth of 17%. The fastest-growing cost line was SG&A (+40%). Net earnings were $0.64B, down 10% year over year. The effective tax rate was 19.2%.
Operating cash flow was $1.2B (down 12% year over year), 190% of net earnings. Non-cash charges added back $0.66B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.83B left free cash flow of $0.38B.
Questions
What was Waste Management's revenue in the first quarter 2025?
Waste Management (WM) reported revenue of $6.0B for the first quarter 2025 (Q1 2025), +17% from a year earlier and +2% from the quarter before.
Was Waste Management profitable in the first quarter 2025?
Operating profit was $1.0B (16.8% of revenue) and net earnings $637M.
Source: Waste Management 10-Q on SEC EDGAR.