WM · 10-Q · 2026Q3 · Full report
Operating Margin Drivers
WASTE MANAGEMENT INC · 2026-10-28 · Importance 47 · Surprise 48 · No source text
Third-quarter income from operations increased $290 million to $1,279 million, or 18.7% of revenue, from $989 million, or 15.3%, in 2025. Nine-month operating income rose to $3,645 million from $3,153 million, lifting operating margin to 18.4% from 16.7%. The quarter-over-quarter improvement reflected the absence of $197 million in prior-year impairment charges, Collection and Disposal yield growth, higher Recycling Processing and Sales and Renewable Energy volumes, and Healthcare Solutions synergies. Higher operating costs, including fuel and risk-management expenses, partly offset these gains.
Key facts
- Q3 2026 income from operations was $1,279 million, or 18.7% of revenues, compared with $989 million, or 15.3%, in Q3 2025, an increase of $290 million. source
- Q3 2026 net income attributable to Waste Management, Inc. was $820 million, or $2.05 per diluted share, compared with $603 million, or $1.49 per diluted share, in Q3 2025. source
- The Q3 2026 increase in income from operations primarily reflected $197 million of prior-year impairment charges, Collection and Disposal yield growth, increased Recycling Processing and Sales and Renewable Energy volumes, and Healthcare Solutions synergies. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +4.2% | Q3 2026 income from operations was $1,279 million, or 18.7% of revenues, compared with $989 million, or 15.3%, in Q3 2025, an increase of… |
| margin | positive | realized | +3.4% | Q3 2026 income from operations was $1,279 million, or 18.7% of revenues, compared with $989 million, or 15.3%, in Q3 2025, an increase of… |
| net_income | positive | realized | +3.2% | Q3 2026 net income attributable to Waste Management, Inc. was $820 million, or $2.05 per diluted share, compared with $603 million, or… |