• Waste Management, Inc. reported first-quarter 2026 results showing sales of US$6,227 million and net income of US$723 million, both higher than a year earlier, and completed a US$353.61 million buyback of 1,500,000 shares announced in December 2025.
• This combination of higher earnings per share and a fully executed share repurchase program points to management’s continued focus on shareholder returns and capital discipline.
• We’ll now examine how Waste Management’s higher first-quarter earnings per share and completed buyback shape its existing investment narrative.

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Waste Management Investment Narrative Recap

To own Waste Management, you need to believe in steady demand for essential waste and environmental services, supported by disciplined capital management. The latest quarter’s higher EPS and completed US$353.61 million buyback reinforce that capital discipline, but do not materially change the near term balance between the key earnings catalyst from technology and sustainability investments and the ongoing risks from regulatory and weather related cost pressures.

The most relevant recent announcement is the completion of the 1,500,000 share repurchase authorized in December 2025, which slightly reduces the share count and supports per share metrics following the first quarter EPS increase. Together with the higher 2026 quarterly dividend of US$0.945 per share, it underlines Waste Management’s emphasis on returning cash to shareholders while it continues to invest in automation, recycling, and renewable energy projects that could influence future earnings power.

But even with growing EPS and active buybacks, investors should still be aware of how higher leverage after the Stericycle acquisition could...

Waste Management's narrative projects $29.4 billion revenue and $4.0 billion earnings by 2028. This requires 7.0% yearly revenue growth and a roughly $1.3 billion earnings increase from $2.7 billion today.

Uncover how Waste Management's forecasts yield a $253.12 fair value, a 14% upside to its current price.

Exploring Other Perspectives

Six fair value estimates from the Simply Wall St Community cluster between US$200 and US$253.12, showing how differently investors can price the same business. You should weigh those views alongside the risk that regulatory shifts in renewable energy and recycling could alter Waste Management’s cost base and future cash flows.

Explore 6 other fair value estimates on Waste Management - why the stock might be worth as much as 14% more than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Waste Management research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Waste Management research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Waste Management's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.