WM (WM) reported second-quarter 2026 revenue of $6.684 billion, up 4.0% from $6.430 billion a year earlier. Net income attributable to Waste Management, Inc. was $785 million, compared with $726 million, and diluted earnings per share were $1.95, up from $1.80.
The company said cash flow from operations increased nearly 12% to $1.726 billion for the quarter. WM returned $1.04 billion to shareholders through $659 million in share repurchases and $379 million in cash dividends, and completed four sustainability growth projects during the period.
- Quarter ended June 30, 2026.
- Operating expenses were 59.2% of revenue, in line with the prior year.
- Total company operating EBITDA margin was 30.4%, up 90 basis points from a year earlier.
- Free cash flow was $1.104 billion, compared with $818 million in the prior-year period.
- WM maintained its full-year adjusted operating EBITDA outlook of $8.15 billion to $8.25 billion and free cash flow outlook of $3.75 billion to $3.85 billion.
- The company now expects 2026 revenue of $26.275 billion to $26.475 billion.
$WM Insider Trading Activity
$WM insiders have traded $WM stock on the open market 33 times in the past 6 months. Of those trades, 0 have been purchases and 33 have been sales.
Here’s a breakdown of recent trading of $WM stock by insiders over the last 6 months:
- JAMES C JR FISH (Chief Executive Officer) has made 0 purchases and 3 sales selling 36,753 shares for an estimated $8,469,157.
- MICHAEL J. WATSON (Sr. VP-Chief Customer Officer) has made 0 purchases and 3 sales selling 17,938 shares for an estimated $4,322,506.
- JOHN J MORRIS (President & COO) has made 0 purchases and 3 sales selling 12,880 shares for an estimated $3,131,720.
- DONALD J SMITH (Sr. VP - Operations) has made 0 purchases and 3 sales selling 12,884 shares for an estimated $2,998,568.
- RAFAEL CARRASCO (SVP of Enterprise Strategy) has made 0 purchases and 3 sales selling 10,697 shares for an estimated $2,460,500.
- TARA J. HEMMER (SVP & Chief Sustainability Off) has made 0 purchases and 2 sales selling 5,508 shares for an estimated $1,316,733.
- JOHN A. CARROLL (VP & Chief Accounting Officer) has made 0 purchases and 4 sales selling 1,325 shares for an estimated $307,959.
- JOHNSON VARKEY (SVP-Chief Information Officer) has made 0 purchases and 3 sales selling 1,166 shares for an estimated $274,309.
- CHARLES C BOETTCHER (EVP, Chief Legal Officer) sold 689 shares for an estimated $151,111
- DAVID L. REED (EVP & CFO) has made 0 purchases and 4 sales selling 403 shares for an estimated $91,016.
- CHRISTOPHER P. DESANTIS (SVP Operations - East) has made 0 purchases and 2 sales selling 276 shares for an estimated $62,028.
- KIMBERLY G. STITH (SVP - Chief HR Officer) has made 0 purchases and 2 sales selling 178 shares for an estimated $39,591.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$WM Hedge Fund Activity
We have seen 1,008 institutional investors add shares of $WM stock to their portfolio, and 946 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL RESEARCH GLOBAL INVESTORS added 6,466,673 shares (+285.5%) to their portfolio in Q1 2026, for an estimated $1,478,475,447
- ROYAL BANK OF CANADA added 2,022,187 shares (+84.9%) to their portfolio in Q1 2026, for an estimated $462,332,613
- DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN added 1,808,899 shares (+406.2%) to their portfolio in Q1 2026, for an estimated $413,568,578
- GATES FOUNDATION TRUST removed 1,292,000 shares (-4.5%) from their portfolio in Q1 2026, for an estimated $295,389,960
- TWO SIGMA INVESTMENTS, LP added 1,132,972 shares (+125.0%) to their portfolio in Q1 2026, for an estimated $259,031,388
- HOLOCENE ADVISORS, LP removed 1,121,961 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $256,513,943
- PICTET ASSET MANAGEMENT HOLDING SA removed 942,751 shares (-38.5%) from their portfolio in Q1 2026, for an estimated $215,541,161
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
