WM · Earnings call · 2026Q3T · Full report

Capital Expenditures Program

WASTE MANAGEMENT INC · 2026-10-27 · Importance 64 · Surprise 40 · In source text

Capital spending declined by more than 17% year over year in the first nine months of 2026, reflecting normalized collection-vehicle investment and lower sustainability spending as the planned investment program neared completion. Management expected full-year capital spending to be near the higher end of its guidance, around $2.75 billion, with sequentially higher spending in the fourth quarter. The stated long-term capital run rate was 10%–10.5% of revenue, compared with a lower level in 2026 as sustainability investments wound down.

Key facts

• WM expected 2026 capital spending to be within guidance but toward the higher end, at about $2.75 billion.
• WM expected its long-term capital expenditure run rate to be 10% to 10.5%.
• WM anticipated sequentially higher capital expenditure spending in the fourth quarter of 2026.
• WM's capital spending was down 17% year to date in 2026, in part because it was completing sustainability investments.
• WM's capital spending declined by more than 17% year over year in the first nine months of 2026.

Impact estimates