Filing Flows › Waste Management (WM) › Q3 2026 › vs Q3 2025
Waste Management (WM) Q3 2026 vs Q3 2025 (year over year)
Waste Management's revenue rose $403M (+6%) from $6.4B in Q3 2025 to $6.8B in Q3 2026. The biggest changes: Collection and Disposal +$258M (+5%); Recycling Processing and Sales +$69.0M (+19%); Renewable Energy +$52.0M (+45%). Operating margin 18.7% against 15.3% (+3.3 pts).
Waste Management, Q3 2026: revenue $6.8B (+6% year over year), operating margin 18.7%, net earnings $820M, operating cash flow $1.6B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.7% | 15.3% | +3.3 pts |
| Net margin | 12.0% | 9.4% | +2.6 pts |
| Free cash flow margin | 14.4% | 12.7% | +1.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| East Tier | $2.4B | $2.3B | $81.0M | +3% |
| West Tier | $2.4B | $2.2B | $126M | +6% |
| Other Ancillary | $808M | $757M | $51.0M | +7% |
| Collection and Disposal | $5.6B | $5.3B | $258M | +5% |
| Healthcare Solutions | $651M | $628M | $23.0M | +4% |
| Recycling Processing and Sales | $441M | $372M | $69.0M | +19% |
| Renewable Energy | $167M | $115M | $52.0M | +45% |
| Corporate and Other | $8.0M | $7.0M | $1.0M | +14% |
| Revenue | $6.8B | $6.4B | $403M | +6% |
| Operating profit | $1.3B | $989M | $290M | +29% |
| Costs & expenses | $5.6B | $5.5B | $113M | +2% |
| Pre-tax earnings | $1.0B | $775M | $269M | +35% |
| Other expense, net | $235M | $214M | $21.0M | +10% |
| Cost of revenue | $4.1B | $3.8B | $295M | +8% |
| SG&A | $655M | $665M | −$10.0M | -2% |
| Other operating costs | $819M | $991M | −$172M | -17% |
| Net earnings | $820M | $603M | $217M | +36% |
| Income tax | $224M | $172M | $52.0M | +30% |
| Depreciation & amortization | $792M | $729M | $63.0M | +9% |
| Share-based compensation | $41.0M | $43.0M | −$2.0M | -5% |
| Working capital & other | $13.0M | −$217M | $230M | — |
| Operating cash flow | $1.6B | $1.6B | $48.0M | +3% |
| Free cash flow (OCF − capex) | $983M | $816M | $167M | +20% |
| Capital expenditures | $657M | $776M | −$119M | -15% |
Questions
How much did Waste Management's revenue grow year over year in Q3 2026?
Waste Management's revenue rose $403M (+6%) from $6.4B in Q3 2025 to $6.8B in Q3 2026.
What drove Waste Management's revenue change in Q3 2026?
Collection and Disposal +$258M (+5%); Recycling Processing and Sales +$69.0M (+19%); Renewable Energy +$52.0M (+45%).