WM · Earnings call · 2026Q3T · Full report

Capital Allocation

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

Management reported that internalization reached just over 72% in the quarter, near record levels and approaching the historical mid-70% range. Higher recycling volumes directed to WM recycling plants and routing changes that shifted material from third parties to company-owned assets drove the increase. Management said the routing work was ongoing and would also support pricing and disposal economics.