Filing Flows › Waste Management (WM) › Q2 2026 › vs Q2 2025
Waste Management (WM) Q2 2026 vs Q2 2025 (year over year)
Waste Management's revenue rose $254M (+4%) from $6.4B in Q2 2025 to $6.7B in Q2 2026. The biggest changes: Collection and Disposal +$198M (+4%); Renewable Energy +$42.0M (+37%); Recycling Processing and Sales +$22.0M (+6%). Operating margin 18.7% against 17.9% (+0.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.7% | 17.9% | +0.8 pts |
| Net margin | 11.8% | 11.3% | +0.5 pts |
| Free cash flow margin | 16.4% | 12.6% | +3.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Commercial | $1.5B | $1.4B | $87.0M | +6% |
| Landfill | $1.0B | $1.0B | −$32.0M | -3% |
| Residential | $911M | $872M | $39.0M | +4% |
| Other Collection | $849M | $796M | $53.0M | +7% |
| Industrial | $820M | $790M | $30.0M | +4% |
| Transfer | $410M | $389M | $21.0M | +5% |
| Collection and Disposal | $5.5B | $5.3B | $198M | +4% |
| Healthcare Solutions | $638M | $646M | −$8.0M | -1% |
| Recycling Processing and Sales | $403M | $381M | $22.0M | +6% |
| Renewable Energy | $157M | $115M | $42.0M | +37% |
| Corporate and other | $7.0M | $7.0M | $0 | 0% |
| Revenue | $6.7B | $6.4B | $254M | +4% |
| Operating profit | $1.3B | $1.2B | $102M | +9% |
| Costs & expenses | $5.4B | $5.3B | $152M | +3% |
| Pre-tax earnings | $1.0B | $928M | $96.0M | +10% |
| Other expense, net | $229M | $223M | $6.0M | +3% |
| Cost of revenue | $4.0B | $3.8B | $152M | +4% |
| SG&A | $683M | $696M | −$13.0M | -2% |
| Other operating costs | $793M | $780M | $13.0M | +2% |
| Net earnings | $786M | $727M | $59.0M | +8% |
| Income tax | $238M | $201M | $37.0M | +18% |
| Depreciation & amortization | $777M | $708M | $69.0M | +10% |
| Share-based compensation | $46.0M | $41.0M | $5.0M | +12% |
| Working capital & other | $117M | $69.0M | $48.0M | +70% |
| Operating cash flow | $1.7B | $1.5B | $181M | +12% |
| Free cash flow (OCF − capex) | $1.1B | $813M | $283M | +35% |
| Capital expenditures | $630M | $732M | −$102M | -14% |
Questions
How much did Waste Management's revenue grow year over year in Q2 2026?
Waste Management's revenue rose $254M (+4%) from $6.4B in Q2 2025 to $6.7B in Q2 2026.
What drove Waste Management's revenue change in Q2 2026?
Collection and Disposal +$198M (+4%); Renewable Energy +$42.0M (+37%); Recycling Processing and Sales +$22.0M (+6%).