Filing Flows › Waste Management (WM) › Q2 2026 › vs Q1 2026
Waste Management (WM) Q2 2026 vs Q1 2026 (quarter over quarter)
Waste Management's revenue rose $457M (+7%) from $6.2B in Q1 2026 to $6.7B in Q2 2026. The biggest changes: Collection and Disposal +$398M (+8%); Recycling Processing and Sales +$35.0M (+10%); Healthcare Solutions +$24.0M (+4%). Operating margin 18.7% against 17.9% (+0.9 pts).
Waste Management, Q2 2026: revenue $6.7B (+4% year over year), operating margin 18.7%, net earnings $786M, operating cash flow $1.7B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.7% | 17.9% | +0.9 pts |
| Net margin | 11.8% | 11.6% | +0.1 pts |
| Free cash flow margin | 16.4% | 13.7% | +2.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Commercial | $1.5B | $1.4B | $56.0M | +4% |
| Landfill | $1.0B | $864M | $140M | +16% |
| Residential | $911M | $888M | $23.0M | +3% |
| Other Collection | $849M | $794M | $55.0M | +7% |
| Industrial | $820M | $758M | $62.0M | +8% |
| Transfer | $410M | $348M | $62.0M | +18% |
| Collection and Disposal | $5.5B | $5.1B | $398M | +8% |
| Healthcare Solutions | $638M | $614M | $24.0M | +4% |
| Recycling Processing and Sales | $403M | $368M | $35.0M | +10% |
| Renewable Energy | $157M | $159M | −$2.0M | -1% |
| Corporate and other | $7.0M | $5.0M | $2.0M | +40% |
| Revenue | $6.7B | $6.2B | $457M | +7% |
| Operating profit | $1.3B | $1.1B | $140M | +13% |
| Costs & expenses | $5.4B | $5.1B | $317M | +6% |
| Pre-tax earnings | $1.0B | $891M | $133M | +15% |
| Other expense, net | $229M | $222M | $7.0M | +3% |
| Cost of revenue | $4.0B | $3.7B | $261M | +7% |
| SG&A | $683M | $707M | −$24.0M | -3% |
| Other operating costs | $793M | $713M | $80.0M | +11% |
| Net earnings | $786M | $723M | $63.0M | +9% |
| Income tax | $238M | $168M | $70.0M | +42% |
| Depreciation & amortization | $777M | $735M | $42.0M | +6% |
| Share-based compensation | $46.0M | $52.0M | −$6.0M | -12% |
| Working capital & other | $117M | −$9.0M | $126M | — |
| Operating cash flow | $1.7B | $1.5B | $225M | +15% |
| Free cash flow (OCF − capex) | $1.1B | $851M | $245M | +29% |
| Capital expenditures | $630M | $650M | −$20.0M | -3% |
Questions
How much did Waste Management's revenue grow quarter over quarter in Q2 2026?
Waste Management's revenue rose $457M (+7%) from $6.2B in Q1 2026 to $6.7B in Q2 2026.
What drove Waste Management's revenue change in Q2 2026?
Collection and Disposal +$398M (+8%); Recycling Processing and Sales +$35.0M (+10%); Healthcare Solutions +$24.0M (+4%).