Equity Profile

WM

Waste Management, Inc.

IndustrialsEnvironmental & Facilities Services$89.6B

Jul27Mon

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Waste Management, Inc. (WM) is a leading provider of waste management and environmental services in North America....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase service offerings, which is vital for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

WM Q2-2026 Earnings Preview

Context

Company Snapshot

Waste Management, Inc. (WM) is a leading provider of waste management and environmental services in North America. As a key player in the industrial sector, the company focuses on sustainable waste solutions, which are increasingly important as environmental concerns grow and regulations tighten.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.34%

Avg Stock Reaction

+0.75%

Last Quarter Recap

In Q1-2026, Waste Management reported an EPS of $1.81, beating estimates by 3.55%. The stock reacted positively, gaining 0.51% the following day.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to sustainable practices and environmental initiatives.
Plans to expand service offerings in key markets.

Expectations

Wall Street Expectations

Overall, expectations are mixed as analysts await clarity on revenue growth and operational efficiency. The market is particularly interested in how the company navigates rising costs and competition.

Bull Case

If Waste Management can demonstrate strong revenue growth and maintain or improve its operating margins, it could signal robust demand for its services, leading to a positive stock reaction.

Bear Case

Conversely, if the company reports disappointing revenue or shows signs of declining margins, it may raise concerns about its competitive position and lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure will be crucial in assessing the company's profitability and ability to manage costs effectively.

How is Waste Management addressing rising operational costs?

Understanding the company's strategy to manage costs will be key to evaluating its future profitability and competitive edge.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Waste Management's ability to leverage its operational efficiencies to drive revenue growth despite rising costs.

Supporting Evidence

The company has a history of beating EPS estimates, which could indicate stronger performance than expected.

Options pricing suggests a larger move than historical averages, indicating potential for significant market reaction.

Management's commitment to sustainability could attract new customers and drive revenue growth.

Key Risk

If the EPS comes in below $1.75, it could undermine confidence in the company's ability to manage costs.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers on the company's ability to maintain profitability amid rising costs and competitive pressures.

Bull Confirmed If

A reported EPS of $1.90 or higher would confirm the bull case and indicate strong operational performance.

Bear Confirmed If

An EPS below $1.75 would confirm the bear case, raising concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.33%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.3% while WM has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

20.8%

Calls (87K)P/C Ratio: 1.05Puts (37K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Industrials

n=30

Fade rate: 6 of 24 (25%)

This setup has occurred 30 times across Industrials in the last 2 years. 18 of 24 (75%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.7%, with a raw directional average of +1.7% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Waste Management beats expectations, history suggests the stock could rise by around 0.03%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement, reflecting cautious sentiment from investors.

Miss

Should the company miss expectations, history indicates a potential decline of around 1.95%, signaling concerns about its financial health.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Details on revenue growth in key markets.
3Insights into cost management strategies.
4Commentary on competitive pressures in the waste management industry.
5Updates on sustainability initiatives and their impact on business.

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Company Snapshot

Waste Management, Inc. (WM) is a leading provider of waste management and environmental services in North America....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase service offerings, which is vital for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

WM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.34%

Avg Stock Reaction

+0.75%

Last Quarter Recap

In Q1-2026, Waste Management reported an EPS of $1.81, beating estimates by 3.55%. The stock reacted positively, gaining 0.51% the following day.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to sustainable practices and environmental initiatives.
Plans to expand service offerings in key markets.

Expectations

Wall Street Expectations

Bull Case

If Waste Management can demonstrate strong revenue growth and maintain or improve its operating margins, it could signal robust demand for its services, leading to a positive stock reaction.

Bear Case

Conversely, if the company reports disappointing revenue or shows signs of declining margins, it may raise concerns about its competitive position and lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure will be crucial in assessing the company's profitability and ability to manage costs effectively.

How is Waste Management addressing rising operational costs?

Understanding the company's strategy to manage costs will be key to evaluating its future profitability and competitive edge.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Waste Management's ability to leverage its operational efficiencies to drive revenue growth despite rising costs.

Supporting Evidence

The company has a history of beating EPS estimates, which could indicate stronger performance than expected.

Options pricing suggests a larger move than historical averages, indicating potential for significant market reaction.

Management's commitment to sustainability could attract new customers and drive revenue growth.

Key Risk

If the EPS comes in below $1.75, it could undermine confidence in the company's ability to manage costs.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter centers on the company's ability to maintain profitability amid rising costs and competitive pressures.

Bull Confirmed If

A reported EPS of $1.90 or higher would confirm the bull case and indicate strong operational performance.

Bear Confirmed If

An EPS below $1.75 would confirm the bear case, raising concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.33%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.3% while WM has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

20.8%

Calls (87K)P/C Ratio: 1.05Puts (37K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Industrials

n=30

Fade rate: 6 of 24 (25%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Waste Management beats expectations, history suggests the stock could rise by around 0.03%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement, reflecting cautious sentiment from investors.

Miss

Should the company miss expectations, history indicates a potential decline of around 1.95%, signaling concerns about its financial health.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Details on revenue growth in key markets.
3Insights into cost management strategies.
4Commentary on competitive pressures in the waste management industry.
5Updates on sustainability initiatives and their impact on business.