What Happened?

Shares of waste management services provider Waste Management (NYSE: WM) jumped 3.3% in the afternoon session after the company reported strong second-quarter results that surpassed analyst expectations for both revenue and profit. 

The company posted revenue of $6.43 billion, marking a 19% increase year-over-year, alongside an adjusted earnings per share of $1.92. This growth was largely fueled by the acquisition of Stericycle, which contributed significantly to the positive results. In addition to beating on the top and bottom lines, Waste Management achieved a record operating expense margin, highlighting operational efficiency. The company also boosted investor confidence by raising its full-year free cash flow guidance by $125 million, projecting a range between $2.8 billion and $2.9 billion.

After the initial pop the shares cooled down to $234.19, up 2.7% from previous close.

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What Is The Market Telling Us

Waste Management’s shares are not very volatile and have only had 2 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

Waste Management is up 16.8% since the beginning of the year, and at $234.19 per share, it is trading close to its 52-week high of $242.10 from June 2025. Investors who bought $1,000 worth of Waste Management’s shares 5 years ago would now be looking at an investment worth $2,136.

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