Waste Management stock gets lift from healthcare turnaround
Published on 11/04/2026 at 14:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSHealthcare turnaround shapes outlook
- Third-quarter revenue growth and stronger Healthcare Solutions profitability supported Waste Management's full-year outlook.
- Management expects full-year revenue and free cash flow at the high end of their guidance ranges.
- Fuel and risk-management costs remained important margin headwinds for the waste-services group.
Waste Management reported stronger third-quarter operating performance on October 27, with revenue growth and a sharp improvement in its Healthcare Solutions business supporting management's 2026 outlook. The company said revenue and free cash flow should finish at the high end of its guidance ranges.
In its third-quarter earnings release, Waste Management reported revenue of USD 6.846 billion for the three months ended September 30, 2026, up 6.3 percent from the prior-year period. Adjusted operating EBITDA rose 5.8 percent to USD 2.121 billion, while the adjusted operating EBITDA margin was 31.0 percent.
Healthcare profitability improves
Healthcare Solutions revenue increased 3.7 percent to USD 651 million. Operating performance in the segment improved by USD 41 million, while adjusted operating EBITDA rose more than 30 percent to USD 146 million. Management attributed the progress to pricing, cost controls and integration synergies.
The segment reached two targets earlier than planned. Core price reached 5.5 percent, and selling, general and administrative expenses declined to 15.2 percent of Healthcare Solutions revenue. Management said healthcare volumes remained under pressure, although trends in medical waste and secure document destruction were improving sequentially.
Guidance remains intact
Waste Management maintained full-year revenue guidance of USD 26.275 billion to USD 26.475 billion and expects revenue at the high end of that range. Adjusted operating EBITDA remains guided to USD 8.15 billion to USD 8.25 billion, while free cash flow is also expected at the high end of its USD 3.75 billion to USD 3.85 billion range.
Pricing in the Collection and Disposal business and progress in Healthcare Solutions supported profitability. Higher fuel costs and risk-management expenses offset part of those gains, keeping margin development a central issue for investors. Management expects fourth-quarter margins to improve sequentially, while the year-over-year comparison may remain affected by fuel costs.
The real-time quote of Waste Management stock was EUR 210.40 on Lang & Schwarz at 2:03 p.m. CET on Wednesday, November 4, 2026.
Waste Management at a glance
- Company: Waste Management, Inc.
- ISIN: US94106L1098
- NYSE ticker: WM
- Lang & Schwarz quote: EUR 210.40 on Wednesday, November 4, 2026, at 2:03 p.m. CET
- Third-quarter revenue: USD 6.846 billion, up 6.3 percent year over year
- Adjusted operating EBITDA: USD 2.121 billion, up 5.8 percent year over year
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