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Compared to Estimates, Waste Management (WM) Q3 Earnings: A Look at Key Metrics

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For the quarter ended September 2025, Waste Management (WM - Free Report) reported revenue of $6.44 billion, up 14.9% over the same period last year. EPS came in at $1.98, compared to $1.96 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $6.49 billion, representing a surprise of -0.71%. The company delivered an EPS surprise of -1.49%, with the consensus EPS estimate being $2.01.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Waste Management performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Internal Revenue Growth - Period-to-Period Change - Total - As a % of Total Company: 14.9% compared to the 15.8% average estimate based on six analysts.
  • Internal Revenue Growth - Period-to-Period Change - Volume - As a % of Total Company: 0.8% compared to the 0.4% average estimate based on four analysts.
  • Internal Revenue Growth - Period-to-Period Change - Internal revenue growth - As a % of Total Company: 3% versus 4.9% estimated by four analysts on average.
  • Internal Revenue Growth - Period-to-Period Change - Acquisitions - As a % of Total Company: 11.9% compared to the 10.5% average estimate based on three analysts.
  • Internal Revenue Growth - Period-to-Period Change - Total average yield - As a % of Total Company: 2.2% versus 5.6% estimated by two analysts on average.
  • Operating revenues- WM Renewable Energy: $115 million versus the four-analyst average estimate of $129.5 million. The reported number represents a year-over-year change of +32.2%.
  • Operating revenues- WM Healthcare Solutions: $628 million versus $587.33 million estimated by four analysts on average.
  • Operating revenues- Recycling Processing and Sales: $372 million versus $395.44 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.9% change.
  • Operating revenues- Corporate and Other: $7 million versus the two-analyst average estimate of $5.7 million. The reported number represents a year-over-year change of +16.7%.

View all Key Company Metrics for Waste Management here>>>

Shares of Waste Management have returned -1.8% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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