WM Reports Higher Q2 Revenue and Cash Flow, Lowers 2026 Revenue Outlook

Waste Management’s second-quarter 2026 revenue rose 4.0% to $6.684 billion, while diluted EPS increased to $1.95 from $1.80 and adjusted operating EBITDA reached $2.067 billion, up 5.5%. Operating cash flow rose nearly 12% to $1.726 billion and free cash flow increased to $1.104 billion, enabling $1.04 billion in shareholder returns through $659 million of repurchases and $379 million of dividends. WM maintained its 2026 adjusted EBITDA outlook of $8.15 billion to $8.25 billion and free cash flow outlook of $3.75 billion to $3.85 billion, but lowered its revenue forecast by approximately 0.6% to $26.275 billion to $26.475 billion because of lower volume expectations.