WM · Earnings call · 2026Q3T · Full report

Regulatory Risk

WASTE MANAGEMENT INC · 2026-10-27 · Importance 26 · Surprise 24

Management said PFAS rules in the U.S. and Canada are not fully formulated and could create a cost headwind. It believes landfill-related PFAS costs can be passed through to customers and said regulation could also create an opportunity, depending on how the rules are finalized. Separately, California legislation affecting landfill requirements has passed but still requires rulemaking; management does not currently expect the changes to spread widely, while monitoring whether other states adopt similar requirements.

Key facts

• Waste Management said it did not expect California's newly passed landfill legislation to become widespread, but was tracking it while rulemaking continued.
• WM said California legislation would require enhanced landfill monitoring and other measures, contributing to increased landfill operating costs.
• Waste Management said pending PFAS rules could create a cost headwind, but it believed it could pass that cost on to customers.
• Waste Management said PFAS regulation could also create an opportunity, depending on how the regulations are finalized.