Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Lapped charges explain most of the margin jump
Unusual charges fell to $18M from $213M, so a cleaner comparison, more than the core business, widened the margin.
For investorsWhat has to hold for the margin to keep widening?
For foundersWhat a smaller company can learn from owning the bottleneck
Average yield added 5.1% to revenue and volume 0.8%, while the company deliberately sheds lower-margin residential contracts.
Renewable Energy earned $37M of operating income, more than recycling, on 37.9% of recycling's revenue.
Capital spending took 40.1% of operating cash flow, down from 48.7%, as growth projects move from building to earning.
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Business Lens describes Waste Management from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
