Earnings call transcript: Waste Management misses Q4 2025 EPS forecast
Waste Management (WM) reported Q4 2025 earnings, missing EPS and revenue forecasts with an EPS of $1.93 against an anticipated $1.95, and revenue of $6.31 billion against $6.39 billion. Despite the misses, the company showed strong operational performance by improving its operating EBITDA margin by 40 basis points for the full year and increasing free cash flow by nearly 27% to $2.94 billion. Waste Management expects continued strong growth in 2026, with operating EBITDA projected to be between $8.15 billion and $8.25 billion, and free cash flow growth of nearly 30% to $3.8 billion, driven by operational excellence, sustainability investments, and integration of its Healthcare Solutions business.
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