Waste Management Inc

Latest Results (24.10.2025):

Waste Management Inc. reported strong financial results for the third quarter of 2023, demonstrating steady revenue growth and enhanced profitability. The company achieved significant improvements in operating EBITDA and maintained robust free cash flow, supported by effective cost management and strategic investments in sustainability.

Revenue Stability

Revenue for the third quarter of 2023 was $5.198 billion, showing a slight increase from $5.075 billion in the same quarter of 2022. Core pricing strategies outpaced inflationary cost increases by approximately 100 basis points, contributing to margin and earnings growth.

Cost Management Improvements

Operating expenses as a percentage of revenue decreased to 61.3% in Q3 2023 from 62.2% in Q3 2022. SG&A expenses also improved, reducing to 9.0% of revenue compared to 9.3% the previous year, reflecting enhanced efficiency in managing operational costs.

Enhanced Profitability

Operating EBITDA increased by more than 6% to $1.540 billion, with the operating EBITDA margin expanding to 29.6%. Net income rose to $663 million, and diluted earnings per share reached $1.63, up from $1.54 in the third quarter of 2022.

Strong Free Cash Flow

Free cash flow for the quarter was $612 million, a significant increase from $432 million in Q3 2022. This growth was driven by a 6.9% rise in cash flow from operations and disciplined capital allocation, including $653 million returned to shareholders through dividends and share repurchases.

Sustainability Initiatives

Waste Management continues to invest in sustainability, with $750 million allocated to growth capital spending in 2023. The company expects these investments to generate approximately $740 million in incremental annual adjusted operating EBITDA by 2026. Ongoing technology and automation upgrades at recycling facilities are enhancing product quality and operational efficiency.