WM · 10-Q · 2026Q3 · Full report

Acquisitions and Divestitures

WASTE MANAGEMENT INC · 2026-10-28 · Importance 51 · Surprise 64

Cash spending on acquisitions related to the solid waste and recycling businesses fell 75% to $102 million for the nine months ended September 30, 2026, from $403 million in 2025. Of the 2026 acquisition spending, $89 million was classified as investing cash flow; the remaining amount was financing cash flow related to the timing of contingent consideration. Divestiture proceeds, net of cash divested, were $79 million in 2026, primarily from a West Tier business divestiture; the $108 million received in 2025 primarily reflected the sale of the Healthcare Solutions segment’s Spain and Portugal subsidiaries.

Key facts

• Proceeds from divestitures of businesses and other assets, net of cash divested, were $79 million for the nine months ended September 30, 2026, compared with $108 million in 2025. source
• Q3 2025 included an $11 million negotiated payment for early termination of a Renewable Energy segment contract. source
• Nine-month 2026 results included a $34 million gain on a West Tier business divestiture, partly offset by immaterial legal and remediation liability charges. source
• Cash spending on acquisitions was $102 million for the nine months ended September 30, 2026, compared with $403 million in 2025; $89 million and $395 million, respectively, were cash used in investing activities, and the acquisitions related to solid waste and recycling businesses. source
• Divestiture proceeds in 2026 primarily related to a business divestiture in Waste Management's West Tier. source
• Divestiture proceeds in 2025 primarily related to the sale of the Healthcare Solutions segment's Spain and Portugal subsidiaries. source
• Q3 2026 restructuring charges were not material; Q3 2025 restructuring charges primarily reflected employee costs related to integrating the November 2024 Stericycle acquisition. source
• The acquisitions made during the nine months ended September 30, 2026 and 2025 related to Waste Management's solid waste and recycling businesses. source