HighGravityDataCurrent guidance
69 items
WM
Guidance from WM’s last 8 earnings releases. Every value links to its sentence in the filing. See something wrong? Tell us.
Releases tracked
8
Latest release
Jul 28, 2026
Data checked
Jul 28, 2026
What changed in the Jul 28, 2026 release
Each item compared with the same item in the previous release (Apr 28, 2026). Values in quotation marks are the company’s words.
New — first stated in this releaseRaised / Lowered / Narrowed / Widened — changed from the prior releaseRevised — wording changed, direction not determinableChanged — value changed; the comparison couldn’t be parsed to a directionReiterated — restated unchangedNot restated — stated before, absent nowRaised and lowered describe the number, not whether the change is favorable.
| Change | Metric | Period | Previous | Now | Source |
|---|---|---|---|---|---|
| Lowered | Revenue | for FY2026 | “$26,425 - $26,625” | “between $26.275 and $26.475 billion dollars” | Filing ↗ |
| Raised | Adjusted operating EBITDA margin | for FY2026 | “30.8%-31.0%” | “between 31.0% and 31.2%” | Filing ↗ |
| New | Capital expenditures - sustainability growth investments (Scenario 1) | for FY2026 | — | “(250 )” | Filing ↗ |
| New | Capital expenditures to support the business (Scenario 1) | for FY2026 | — | “(2,400 )” | Filing ↗ |
| New | Capital expenditures to support the business (Scenario 2) | for FY2026 | — | “(2,500 )” | Filing ↗ |
| New | Free cash flow (Scenario 1) | for FY2026 | — | “$ 3,750” | Filing ↗ |
| New | Free cash flow (Scenario 2) | for FY2026 | — | “$ 3,850” | Filing ↗ |
| New | Free cash flow without sustainability growth investments (Scenario 1) | for FY2026 | — | “$ 4,000” | Filing ↗ |
| New | Free cash flow without sustainability growth investments (Scenario 2) | for FY2026 | — | “$ 4,100” | Filing ↗ |
| New | Net cash provided by operating activities (Scenario 1) | for FY2026 | — | “$ 6,300” | Filing ↗ |
| New | Net cash provided by operating activities (Scenario 2) | for FY2026 | — | “$ 6,450” | Filing ↗ |
| New | Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 1) | for FY2026 | — | “100” | Filing ↗ |
| New | Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 2) | for FY2026 | — | “150” | Filing ↗ |
| Reiterated | Adjusted operating EBITDA | for FY2026 | “$8,150 - $8,250” | “between $8.15 and $8.25 billion” | Filing ↗ |
| Reiterated | Free cash flow | for FY2026 | “$3,750 - $3,850” | “between $3.75 and $3.85 billion” | Filing ↗ |
Show 25 items not restated in this release
| Change | Metric | Period | Previous | Now | Source |
|---|---|---|---|---|---|
| Not restated | Adjusted operating EBITDA for Recycling Processing and Sales and Renewable Energy segments combined with landfill gas royalties realized by the Collection and Disposal segment | for FY2027 | “approach $1 billion” | — | Filing ↗ |
| Not restated | Run-rate contributions from previously announced sustainability growth projects | for FY2027 | “almost all of the full run-rate contributions from its previously announced projects” | — | Filing ↗ |
| Not restated | Healthcare Solutions business revenue growth | for FY2026 | “around 3%” | — | Filing ↗ |
| Not restated | Renewable Natural Gas Growth Projects Operating EBITDA | for FY2026 | “$350 - $380” | — | Filing ↗ |
| Not restated | Sustainability Growth Operating EBITDA | for FY2026 | “$600 - $640” | — | Filing ↗ |
| Not restated | Capital expenditures - sustainability growth investments | for FY2026 | “(200 )” | — | Filing ↗ |
| Not restated | Capital expenditures to support the business | for FY2026 | “(2,450 )” | — | Filing ↗ |
| Not restated | Capital to support the business | for FY2026 | “$2,450 - $2,550” | — | Filing ↗ |
| Not restated | Core price | for FY2026 | “between 5.4% and 5.8%” | — | Filing ↗ |
| Not restated | Estimated annual dividends paid to shareholders | for FY2026 | “$1.5 billion” | — | Filing ↗ |
| Not restated | Free cash flow - Projected Year-Over-Year Change at Midpoint | for FY2026 | “Growth of 29.4%” | — | Filing ↗ |
| Not restated | Free cash flow before sustainability growth investments | for FY2026 | “$ 3,950” | — | Filing ↗ |
| Not restated | Leverage ratio target | for FY2026 | “between 2.5x and 3.0x” | — | Filing ↗ |
| Not restated | Recycling projects to be completed | for FY2026 | “four additional” | — | Filing ↗ |
| Not restated | Renewable natural gas plants to be completed | for FY2026 | “six additional” | — | Filing ↗ |
| Not restated | Single-stream recycled commodity price assumption (sustainability outlook) | for FY2026 | “$125 per ton” | — | Filing ↗ |
| Not restated | Sustainability growth capital (j) | for FY2026 | “About $200” | — | Filing ↗ |
| Not restated | Sustainability growth capital (j) - Projected Year-Over-Year Change at Midpoint | for FY2026 | “Reduction of more than $400 million” | — | Filing ↗ |
| Not restated | Targeted leverage ratio | for FY2026 | “between 2.5 and 3.0 times” | — | Filing ↗ |
| Not restated | Total Sustainability Growth Capital | for FY2026 | “$120 - $170” | — | Filing ↗ |
| Not restated | Uncontracted/market-rate renewable natural gas price (remaining 40% of expected volume) | for FY2026 | “approximately $24.50 per MMBtu” | — | Filing ↗ |
| Not restated | Leverage ratio target range | for the long term | “between 2.5 to 3.0 times total debt to EBITDA” | — | Filing ↗ |
| Not restated | Recycling assets payback period | for the long term | “about six years” | — | Filing ↗ |
| Not restated | Renewable natural gas project payback period | for the long term | “about three years” | — | Filing ↗ |
| Not restated | Renewable natural gas projects to be commissioned | No period stated | “four additional projects” | — | Filing ↗ |
Current guidance
Guidance for periods that have not yet ended, at its most recent value, grouped by horizon.
Current fiscal year
| Metric | Current value | Period | Measure | First stated | Times stated | Source |
|---|---|---|---|---|---|---|
| Healthcare Solutions business revenue growth | “around 3%” | for FY2026 | GAAP-tied | Jan 28, 2026 | 1 | Filing ↗ |
| Revenue | “between $26.275 and $26.475 billion dollars” | for FY2026 | GAAP-tied | Jan 28, 2026 | 2 | Filing ↗ |
| Revenue - Projected Year-Over-Year Change at Midpoint | “Growth of 5.2%” | for FY2026 | GAAP-tied | Jan 28, 2026 | 1 | Filing ↗ |
| Rollover from solid waste acquisitions - revenue contribution | “about $65 million” | for FY2026 | GAAP-tied | Jan 28, 2026 | 1 | Filing ↗ |
| Adjusted operating EBITDA | “between $8.15 and $8.25 billion” | for FY2026 | Company-defined | Jan 28, 2026 | 2 | Filing ↗ |
| Adjusted operating EBITDA - Projected Year-Over-Year Change at Midpoint | “Growth of 6.2% on a comparable basis, reflecting a change in the classification of accretion expense beginning in 2026 (i)” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Adjusted operating EBITDA growth for Recycling Processing and Sales and Renewable Energy segments combined with landfill gas royalties realized by the Collection and Disposal segment | “between $235 and $255 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Adjusted operating EBITDA margin | “between 31.0% and 31.2%” | for FY2026 | Company-defined | Jan 28, 2026 | 2 | Filing ↗ |
| Adjusted operating EBITDA margin - Projected Year-Over-Year Change at Midpoint | “Expansion of 30 basis points on a comparable basis, reflecting a change in the classification of accretion expense beginning in 2026, (i) or 50 basis points when normalized for the prior year wildfire cleanup” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Recycling Automation and Growth Projects Operating EBITDA | “$250 - $260” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Renewable Natural Gas Growth Projects Operating EBITDA | “$350 - $380” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Rollover from solid waste acquisitions - adjusted operating EBITDA contribution | “$25 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Sustainability Growth Operating EBITDA | “$600 - $640” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Accretion expense | “approximately $150 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Annual dividend per share | “$3.78” | for FY2026 | Declared action | Jan 28, 2026 | 1 | Filing ↗ |
| Blended average renewable natural gas value assumption (sustainability outlook) | “$26 per MMBtu” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Blended average single-stream recycled commodity price (outlook assumption) | “approximately $70 per ton” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Capital expenditures - sustainability growth investments | “(200 )” | for FY2026 | Company-defined | Apr 28, 2026 | 1 | Filing ↗ |
| Capital expenditures - sustainability growth investments (Scenario 1) | “(250 )” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Capital expenditures to support the business | “(2,450 )” | for FY2026 | Company-defined | Apr 28, 2026 | 1 | Filing ↗ |
| Capital expenditures to support the business (Scenario 1) | “(2,400 )” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Capital expenditures to support the business (Scenario 2) | “(2,500 )” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Capital spending on two recently approved renewable natural gas facilities and one new recycling growth project | “about $85 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Capital to support the business | “$2,450 - $2,550” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Capital to support the business - Projected Year-Over-Year Change at Midpoint | “Reduction of about $100 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Contracted renewable natural gas price (60% of expected volume) | “about $27 per MMBtu” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Core price | “between 5.4% and 5.8%” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Estimated annual dividends paid to shareholders | “$1.5 billion” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Free cash flow | “between $3.75 and $3.85 billion” | for FY2026 | Company-defined | Oct 27, 2025 | 3 | Filing ↗ |
| Free cash flow - Projected Year-Over-Year Change at Midpoint | “Growth of 29.4%” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Free cash flow (Scenario 1) | “$ 3,750” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Free cash flow (Scenario 2) | “$ 3,850” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Free cash flow before sustainability growth investments | “$ 3,950” | for FY2026 | Company-defined | Apr 28, 2026 | 1 | Filing ↗ |
| Free cash flow without sustainability growth investments (Scenario 1) | “$ 4,000” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Free cash flow without sustainability growth investments (Scenario 2) | “$ 4,100” | for FY2026 | Company-defined | Jul 28, 2026 | 1 | Filing ↗ |
| Increase in annual dividend | “$0.48 per share” | for FY2026 | Declared action | Jan 28, 2026 | 1 | Filing ↗ |
| Investment in solid waste acquisitions | “$100 to $200 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Leverage ratio target | “between 2.5x and 3.0x” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Net cash provided by operating activities | “$ 6,300” | for FY2026 | GAAP-tied | Apr 28, 2026 | 1 | Filing ↗ |
| Net cash provided by operating activities (Scenario 1) | “$ 6,300” | for FY2026 | GAAP-tied | Jul 28, 2026 | 1 | Filing ↗ |
| Net cash provided by operating activities (Scenario 2) | “$ 6,450” | for FY2026 | GAAP-tied | Jul 28, 2026 | 1 | Filing ↗ |
| Overall anticipated blended average price of renewable natural gas | “approximately $26 per MMBtu” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Proceeds from divestitures of businesses and other assets, net of cash divested | “100” | for FY2026 | GAAP-tied | Apr 28, 2026 | 1 | Filing ↗ |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 1) | “100” | for FY2026 | GAAP-tied | Jul 28, 2026 | 1 | Filing ↗ |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 2) | “150” | for FY2026 | GAAP-tied | Jul 28, 2026 | 1 | Filing ↗ |
| Recycling Automation and Growth Projects Capital Expenditures | “$65-$85” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Recycling projects to be completed | “four additional” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Renewable natural gas generation | “between 21 and 22 million MMBtu” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Renewable Natural Gas Growth Projects Capital Expenditures | “$55-$85” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Renewable natural gas plants to be completed | “six additional” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Return to shareholders through dividends and share repurchases | “approximately $3.5 billion” | for FY2026 | Declared action | Jan 28, 2026 | 1 | Filing ↗ |
| Share repurchases | “approximately $2 billion” | for FY2026 | Declared action | Jan 28, 2026 | 1 | Filing ↗ |
| Shareholder returns (dividends and share repurchases) | “approximately $3.5 billion” | for FY2026 | Declared action | Jan 28, 2026 | 1 | Filing ↗ |
| Single-stream recycled commodity price assumption (sustainability outlook) | “$125 per ton” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Sustainability growth capital (j) | “About $200” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Sustainability growth capital (j) - Projected Year-Over-Year Change at Midpoint | “Reduction of more than $400 million” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Targeted leverage ratio | “between 2.5 and 3.0 times” | for FY2026 | Company-defined | Oct 27, 2025 | 1 | Filing ↗ |
| Total Sustainability Growth Capital | “$120 - $170” | for FY2026 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Uncontracted/market-rate renewable natural gas price (remaining 40% of expected volume) | “approximately $24.50 per MMBtu” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Volumes | “between 0.2% and 0.6%” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Yield | “between 3.2% and 3.6%” | for FY2026 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
Next year and medium term
| Metric | Current value | Period | Measure | First stated | Times stated | Source |
|---|---|---|---|---|---|---|
| Adjusted operating EBITDA for Recycling Processing and Sales and Renewable Energy segments combined with landfill gas royalties realized by the Collection and Disposal segment | “approach $1 billion” | for FY2027 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Recycling Automation and Growth Projects Operating EBITDA | “$290 - $300” | for FY2027 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Renewable Natural Gas Growth Projects Operating EBITDA | “$470 - $500” | for FY2027 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Sustainability Growth Operating EBITDA | “$760 - $800” | for FY2027 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Anticipated run-rate synergies (including cross-selling opportunities) | “$300 million of operating EBITDA” | for FY2027 | Company-defined | Jul 28, 2025 | 1 | Filing ↗ |
| Healthcare Solutions run-rate synergies | “$250 million” | for FY2027 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Run-rate contributions from previously announced sustainability growth projects | “almost all of the full run-rate contributions from its previously announced projects” | for FY2027 | Company-defined | Jan 28, 2026 | 1 | Filing ↗ |
| Run-rate synergies | “$300 million of operating EBITDA” | for FY2027 | Company-defined | Jul 28, 2025 | 1 | Filing ↗ |
| Stericycle acquisition synergies (run-rate) | “$250 million” | for FY2027 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Synergies from the acquisition | “$250 million” | for FY2027 | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
Long term
| Metric | Current value | Period | Measure | First stated | Times stated | Source |
|---|---|---|---|---|---|---|
| Leverage ratio target range | “between 2.5 to 3.0 times total debt to EBITDA” | for the long term | Company-defined | Apr 28, 2026 | 1 | Filing ↗ |
| Recycling assets payback period | “about six years” | for the long term | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
| Renewable natural gas project payback period | “about three years” | for the long term | Company-defined | Jan 29, 2025 | 1 | Filing ↗ |
How one item moved
Free cash flow, for FY2026 — every statement across the year, each linked to its filing.
How your Environmental & infrastructure services sector group guides
12 companies in Environmental & infrastructure services. What they guide on, and who reported this season.
Most-guided metric families
This season’s releases
| ABM Industries | Sep 8, 2026 | 5 changes |
| AECOM | Aug 10, 2026 | 19 changes |
| Casella Waste Systems | Aug 6, 2026 | 2 changes |
| Republic Services | Aug 6, 2026 | 7 changes |
| Jacobs Solutions | Aug 4, 2026 | 7 changes |
| EMCOR Group | Jul 30, 2026 | 6 changes |
| KBR | Jul 30, 2026 | 1 change |
| Clean Harbors | Jul 29, 2026 | 16 changes |
Get this for your own peer set — Peer Guidance Briefing, $3,000.
Full history
Every metric, every release, eight quarters — the complete record as one table.
| Metric | FY2027 | FY2026 | FY2025 | FY2024 | Long-term | No period |
|---|---|---|---|---|---|---|
| Healthcare Solutions business revenue growth | — | 1 statement | — | — | — | — |
| Revenue | — | 2 statements | 1 statement | 1 statement | — | — |
| Revenue - Projected Year-Over-Year Change at Midpoint | — | 1 statement | 1 statement | — | — | — |
| Revenue from rollover from solid waste acquisitions | — | — | — | — | — | 2 statements |
| Rollover from solid waste acquisitions - revenue contribution | — | 1 statement | 1 statement | — | — | — |
The full record for WM and its Environmental & infrastructure services peers, delivered as a Peer Guidance Briefing — PDF and Excel, every value linked to its filing.
Filings
The 8 earnings releases this page is built from.
| Filed | Fiscal period | Accession | Guidance items | |
|---|---|---|---|---|
| Jul 28, 2026 | FY2026 Q2 | 0001104659-26-087575 | 15 | Open filing ↗ |
| Apr 28, 2026 | FY2026 Q1 | 0001104659-26-050425 | 6 | Open filing ↗ |
| Jan 28, 2026 | FY2025 Q4 | 0001104659-26-007476 | 41 | Open filing ↗ |
| Oct 27, 2025 | FY2025 Q3 | 0001104659-25-102615 | 7 | Open filing ↗ |
| Jul 28, 2025 | FY2025 Q2 | 0001104659-25-071187 | 22 | Open filing ↗ |
| Apr 28, 2025 | FY2025 Q1 | 0001104659-25-040282 | 2 | Open filing ↗ |
| Jan 29, 2025 | FY2024 Q4 | 0001104659-25-007338 | 79 | Open filing ↗ |
| Oct 28, 2024 | FY2024 Q3 | 0001104659-24-111884 | 22 | Open filing ↗ |
Not located in filing
10 values were detected in these releases but could not be matched to an exact sentence in the filing body, so they are not shown as guidance. We surface the count rather than drop it silently.
Show the 10 unmatched spans
| Span | Why | Filed |
|---|---|---|
| Capital expenditures to support the business = $(2,450) (Scenario 1); $(2,550) (Scenario 2) | span gate: value not verbatim in filing | Apr 28, 2026 |
| Proceeds from divestitures of businesses and other assets, net of cash divested = $100 (Scenario 1); $150 (Scenario 2) | span gate: value not verbatim in filing | Apr 28, 2026 |
| Capital expenditures - sustainability growth investments = $(200) (Scenario 1); $(200) (Scenario 2) | span gate: value not verbatim in filing | Apr 28, 2026 |
| Capital expenditures to support the business = Scenario 1: $(2,575); Scenario 2: $(2,625) | span gate: value not verbatim in filing | Apr 28, 2025 |
| Proceeds from divestitures of businesses and other assets, net of cash divested = Scenario 1: $100; Scenario 2: $150 | span gate: value not verbatim in filing | Apr 28, 2025 |
| Capital expenditures - sustainability growth investments = Scenario 1: $(600); Scenario 2: $(650) | span gate: value not verbatim in filing | Apr 28, 2025 |
| 2025 Projected Free Cash Flow Reconciliation - Capital expenditures to support the business (Scenario 1) = $(2,575) | span gate: value not verbatim in filing | Jan 29, 2025 |
| 2025 Projected Free Cash Flow Reconciliation - Capital expenditures to support the business (Scenario 2) = $(2,625) | span gate: value not verbatim in filing | Jan 29, 2025 |
| 2025 Projected Free Cash Flow Reconciliation - Capital expenditures for sustainability growth investments (Scenario 1) = $(600) | span gate: value not verbatim in filing | Jan 29, 2025 |
| 2025 Projected Free Cash Flow Reconciliation - Capital expenditures for sustainability growth investments (Scenario 2) = $(650) | span gate: value not verbatim in filing | Jan 29, 2025 |
Values in quotation marks are the company’s words; the classification and filing links are HighGravityData’s. HighGravityData does not score or rank companies or give investment advice.
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