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AI brief of an SEC Form 8-K · Waste Management (WM)

WM Q4 2025 revenue up 7.1% to $6.3 billion; expects 2026 free cash flow growth

Positive Impact 3 of 5 earnings Written later

WM reported fourth-quarter 2025 revenue of $6.3 billion, up 7.1%, and diluted EPS of $1.83 versus $1.48 a year earlier. Full-year GAAP diluted EPS slipped to $6.70 from $6.81, though adjusted EPS rose to $7.50 from $7.23. For 2026, WM projects revenue of $26.425 billion to $26.625 billion and free cash flow of $3.750 billion to $3.850 billion, and expects to resume share repurchases with about $2 billion planned for the year.

Key points

  • Q4 2025 revenue was $6.313 billion, up 7.1%; GAAP diluted EPS was $1.83 versus $1.48 in Q4 2024.
  • Full-year 2025 GAAP diluted EPS was $6.70 versus $6.81 in 2024; adjusted diluted EPS was $7.50 versus $7.23.
  • 2026 outlook: revenue of $26.425 billion to $26.625 billion and free cash flow of $3.750 billion to $3.850 billion.
  • WM plans to return about $3.5 billion to shareholders in 2026 through dividends and share repurchases, including a $0.48 per share dividend increase to $3.78.

The filing

CompanyWaste Management (WM)
Form8-K, current report
Filed with the SECJan 28, 2026, 5:08 PM ET
Accession number0001104659-26-007476

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 28, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.