WM · Earnings call · 2026Q3T · Full report

Macroeconomic Factors Impact

WASTE MANAGEMENT INC · 2026-10-27 · Importance 20 · Surprise 24

Management attributed some landfill volume softness, including construction and demolition activity, to conditions in the broader economy. It also said the macro environment is affecting business formation in the commercial line of business, particularly in connection with housing construction. Management noted diesel reached $6.37 per gallon and said the company is recovering higher fuel costs across its portfolio, while expressing hope that the price level is not sustained long term.

Key facts

• Waste Management said diesel pricing and economic uncertainty could lead some customers to wait, with activity potentially appearing later in Q4 or early 2027.
• WM attributed softer-than-expected 2026 volume partly to residential declines, landfill softness including construction and demolition, and commercial business formation affected by the macro environment.