Track market-moving stories before they get noisy

Posted by Defense World Staff on Jul 25th, 2026

Bank of Nova Scotia lowered its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,722 shares of the business services provider’s stock after selling 63,477 shares during the period. Bank of Nova Scotia’s holdings in Waste Management were worth $32,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management in the 4th quarter worth about $25,000. RHL Group LLC bought a new position in Waste Management in the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC lifted its position in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Waste Management in the third quarter valued at approximately $30,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In WM has been the subject of several recent research reports. Scotiabank upped their target price on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price objective for the company in a research note on Tuesday, July 7th. Barclays upped their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. TD Cowen boosted their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Citigroup upped their price target on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Fifteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $256.74.

Check Out Our Latest Stock Analysis on WM

More Waste Management News Here are the key news stories impacting Waste Management this week:

Positive Sentiment: Analysts expect WM to report higher revenue and earnings, supported by stronger collection and disposal pricing plus a sharp increase in renewable energy sales. WM Is Set to Report Q2 Earnings: Here’s What Investors Should Know Positive Sentiment: WM was highlighted as a stock that can benefit from inflation because its contracts allow it to pass rising costs through to customers, which supports margins and earnings resilience. 2 Stocks Built to Thrive If Inflation Refuses to Fade Positive Sentiment: The company was also cited as one of several waste firms using AI to improve efficiency and expand margins, reinforcing the long-term growth narrative. 3 Waste Stocks Turning AI Investments Into Growth Neutral Sentiment: Several articles published ahead of earnings focused on Wall Street estimates and key operating metrics, suggesting investors are mainly waiting for the actual Q2 report before making a bigger move. Curious about Waste Management (WM) Q2 Performance? Explore Wall Street Estimates for Key Metrics Neutral Sentiment: One broad S&P 500 article mentioned WM among companies worth investigating, but it did not provide a specific new catalyst for the stock. 1 S&P 500 Stock Worth Investigating and 2 Facing Challenges Waste Management Price Performance Shares of NYSE WM opened at $238.86 on Friday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The stock has a market capitalization of $95.92 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 2.89 and a beta of 0.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The business has a 50-day moving average of $224.17 and a 200-day moving average of $227.08.

Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 8.16 earnings per share for the current fiscal year.

Waste Management Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Waste Management Company Profile (Free Report)

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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The upcoming report from Waste Management (WM - Free Report) is expected to reveal quarterly earnings of $1.99 per share, indicating an increase of 3.7% compared to the year-ago period. Analysts forecast revenues of $6.71 billion, representing an increase of 4.4% year over year.

The consensus EPS estimate for the quarter has undergone an upward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

In light of this perspective, let's dive into the average estimates of certain Waste Management metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts expect 'Net Operating revenues- WM Renewable Energy' to come in at $169.01 million. The estimate indicates a change of +47% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Net Operating revenues- Recycling Processing and Sales' of $396.54 million. The estimate indicates a change of +4.1% from the prior-year quarter.

Analysts' assessment points toward 'Net Operating revenues- WM Healthcare Solutions' reaching $647.15 million. The estimate indicates a year-over-year change of +0.2%.

It is projected by analysts that the 'Internal Revenue Growth - Period-to-Period Change - Total - As a % of Total Company' will reach 4.6%. Compared to the present estimate, the company reported 19.0% in the same quarter last year.

Based on the collective assessment of analysts, 'Internal Revenue Growth - Period-to-Period Change - Acquisitions - As a % of Total Company' should arrive at 0.4%. Compared to the present estimate, the company reported 13.7% in the same quarter last year.

According to the collective judgment of analysts, 'Internal Revenue Growth - Period-to-Period Change - Total average yield - As a % of Total Company' should come in at 4.2%. Compared to the current estimate, the company reported 3.3% in the same quarter of the previous year.

The consensus among analysts is that 'Internal Revenue Growth - Period-to-Period Change - Internal revenue growth - As a % of Total Company' will reach 4.1%. The estimate compares to the year-ago value of 5.4%.

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

Shares of Waste Management have demonstrated returns of +5.9% over the past month compared to the Zacks S&P 500 composite's +0.4% change. With a Zacks Rank #3 (Hold), WM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Warren Buffett has donated over $47 billion worth of Berkshire Hathaway (BRKA -0.11%) (BRKB -0.10%) stock to the Gates Foundation since 2006, but he's decided to cut ties with the foundation this year. The decision came following Buffett's review of the Epstein files, which revealed Bill Gates had associated with the sex offender. That said, Buffett says he remains in contact with Gates, with whom he's been friends for 35 years.

Despite Buffett's decision to suspend his annual donation to the Gates Foundation, his influence is extremely evident in the nonprofit's trust portfolio. Its top four holdings, which account for approximately 79% of the trust's $34 billion stock portfolio based on its most recent disclosures, are exactly the kinds of stocks Buffett would buy and hold for decades.

Image source: The Motley Fool.

Berkshire Hathaway remains the largest holding in the Gates Foundation's equity portfolio, according to the most recent portfolio disclosure at the end of the first quarter. While the foundation is required to deploy the full value of Buffett's annual donation, plus 5% of its other assets, the portfolio managers have kept a large number of shares, selling only a small portion each quarter.

Whether the portfolio managers adjust their plans following Buffett's decision to stop his donations remains to be seen. The stock hasn't kept pace with the rest of the market since Buffett announced his resignation as CEO, with Greg Abel to replace him starting in 2026. But Berkshire is no stranger to divergent performance. Value stocks typically outperform in periods of volatility and downward pressure on stocks.

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Greg Abel's Berkshire is certainly well-positioned to weather a market pullback better than most companies. It maintained a massive cash position of about $380 billion that it could deploy into new investments or to buy back its own shares as of the end of the first quarter. And while Abel's made several multibillion-dollar purchases since taking over as CEO, they've yet to truly move the needle for Berkshire. (Give it time.)

Buffett's influence is no doubt found within Berkshire, but the other top holdings also show his impact on Gates' investment style.

Two industrial giants at the top of the foundation's portfolio Two of the next-largest positions in the portfolio are WM (WM +1.52%), formerly known as Waste Management, and Caterpillar (CAT -0.07%). The two companies are the kinds of boring businesses Buffett would buy.

WM is the largest waste hauler in the United States. That position is cemented by its landfill portfolio, which is practically impossible to replicate due to regulatory restrictions.

As a result, WM provides key facilities for smaller competitors while benefiting from vertical integration. Its core waste-hauling business delivers an excellent operating margin, enabling it to expand horizontally into new businesses. Most recently, it acquired Stericycle, rebranding it as WM Healthcare Solutions to expand the business.

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Caterpillar makes the iconic yellow construction and mining equipment found on worksites for decades. The company has recently seen earnings boom amid massive spending from hyperscalers for AI data center build-outs. Management has moved to capitalize on that trend in the long term by focusing on recurring services for its equipment, which could help reduce the cyclicality of large-scale infrastructure projects. The excitement over the current earnings cycle has pushed the stock price significantly higher over the last few quarters, making it a much larger portion of the Gates Foundation portfolio.

A railroad business One of Buffett's biggest investments ever was the purchase of Burlington Northern Santa Fe. The railroad business is one Buffett understands, with its clear returns on capital. The Gates Foundation holds a stake in its competitor, Canadian National Railway (CNI +0.57%), Canada's largest railway. The current investment is worth about $6.6 billion.

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The railroad industry, Canadian National in particular, is very attractive for several reasons. First, there's a high barrier to entry. Laying down or acquiring track is very capital-intensive. Canadian National has a tri-coastal network that spans East to West in Canada and runs South through the Midwest United States to the Gulf of Mexico.

The railroads also benefit from economies of scale, which have been amplified by industrywide consolidation. Trains with more cars don't cost much more to run. Moreover, the industry is more recession-resistant than trucking and other freight-hauling modes.

Canadian National is executing well on its goal of reducing capital expenditures to boost free cash flow and returning that cash to shareholders. The market has recently pushed the stock price higher, but when it traded at an enterprise value-to-EBITDA (earnings before interest, taxes, depreciation, and amortization) ratio closer to 12 at the start of the year, Buffett would surely approve of management's activity to buy back shares at an attractive price.

The market expects Waste Management (WM - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis garbage and recycling hauler is expected to post quarterly earnings of $2.00 per share in its upcoming report, which represents a year-over-year change of +4.2%.

Revenues are expected to be $6.71 billion, up 4.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.86% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Waste Management?For Waste Management, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -2.01%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Waste Management will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Waste Management would post earnings of $1.75 per share when it actually produced earnings of $1.81, delivering a surprise of +3.43%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Waste Management doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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SummaryWaste Management, Inc.'s stock has been docile during the past year, which is exactly why it has drawn my attention.I think Waste Management's common shares might rediscover form when (or if) the market's emphasis on tech leadership vanishes.Fundamentally, I can see a scenario where the company focuses on efficiency gains. I think the big roll-up story is nearing its end, but financials show clear improvements in efficiency.The company's participation in renewable natural gas might be a hidden asset with future upside potential.Multiples and technical levels don't scream bargain, but I think this is a steady compounder, especially if paired with a rules-based DCA strategy.Richard Drury/DigitalVision via Getty Images

Today's coverage focuses on Waste Management, Inc. (WM). Despite a near 20% year-on-year surge in industrial stocks, Waste Management's ordinary shares haven't done much, likely leading many to contemplate their positioning.

Waste Management has delivered

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of WM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Kindly note that our content on Seeking Alpha and other platforms doesn't constitute financial advice. Instead, we set the tone for a discussion panel among subscribers. As such, we encourage you to consult a registered financial advisor before committing capital to financial instruments.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

It doesn't take a lot of money to pull together a decent investment portfolio -- in fact, $1,000 gives you a great start, particularly if you're using a brokerage like Robinhood Markets that offers fractional shares. I think it's one of the easiest ways for investors to start their moneymaking journey.

And if you're looking for dividend stocks, there's a lot to choose from now. Dividend stocks are ideal investments because they pay you to hold them. They are offered by companies that have reliable cash flows, meaning that you can generally count on holding a great income-producing stock for a long period of time.

If you have $1,000, you can build a quality, long-term portfolio by investing just $250 in each of these four names.

Image source: McDonald's.

Dividend stock No. 1: McDonald's McDonald's (MCD +2.74%) is arguably the most popular fast-food chain in the U.S., but its global reach can't be ignored. The company has 13,700 restaurants in the U.S., 10,800 locations in international markets, and has licensed an additional 20,800 through international development licenses. So in addition to finding McDonald's around the corner, you can also get a taste of the Golden Arches in places like Estonia, Slovenia, French Guiana, and Qatar.

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Revenue in the first quarter was $6.51 billion, up 9% from a year ago, and net income of $1.98 billion was up 6% year over year. McDonald's has increased its dividend annually for the last 50 years, and its current dividend yield is 2.7%.

Dividend stock No. 2: Waste Management Why is Waste Management (WM +3.78%) a great buy-and-hold dividend stock? Because people will always need garbage hauled away, no matter what happens to the economy. It's a safe play for the long term.

Waste Management provides residential and commercial garbage pickup, as well as recycling and landfill management. The company averages 19,000 collection routes a day and operates nearly 500 transfer stations, more than 250 landfills, more than 100 recycling facilities, and dozens of medical waste facilities. It's the biggest operator in the waste and recycling industry, capturing $25 billion of the total $130 billion market.

Revenue in the first quarter was $6.22 billion, up from $6.02 billion a year ago. Net income was $723 million, an increase from $637 million a year ago, and cash flow from operations increased 24% to $1.5 billion.

Waste Management stock offers a 1.6% dividend yield, and the company has increased its dividend for 23 consecutive years.

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Dividend stock No. 3: Realty Income Realty Income (O +2.89%) is my go-to dividend stock for two reasons. First, I love that it's a monthly dividend stock -- Realty Income has paid a dividend for 673 consecutive months, or more than 56 years. Monthly dividend stocks mean that you get your yield 12 times a year instead of quarterly, so you can put the money to work much quicker.

Second, it's consistent, having raised its dividend annually for the last 31 years. Realty Income has proven it's a dividend stock you can count on.

Note that this company is a real estate investment trust (REIT), meaning that it owns thousands of properties. REITs have been authorized by Congress to provide retail investors access to the commercial real estate market and are required to return 90% of taxable income to investors as dividends. So Realty Income currently has a healthy dividend yield of 5.1%.

Dividend stock No. 4: Automatic Data Processing Automatic Data Processing (ADP +2.76%) isn't a flashy company, but you're not looking for flash here -- you're looking for a solid way to make money for the long term. And that's what ADP offers.

The company provides cloud-based payroll services and human resources support, including tools to calculate wages, benefits, and direct deposits for employees, while ensuring their clients comply with local, state, and federal laws.

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The company is also using artificial intelligence to streamline its work. ADP Assist includes tools such as AI-powered chatbots to allow employees to manage their own accounts. Other tools automate tasks and validate timecards.

Revenue in the fiscal third quarter of 2026 (ending March 31, 2026) was $5.93 billion, up 7% from a year ago. ADP offers a dividend yield of 2.7% and has increased its dividend for 50 consecutive years.

Investors interested in Waste Removal Services stocks are likely familiar with Montrose Environmental (ONT - Free Report) and Waste Management (WM - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Currently, Montrose Environmental has a Zacks Rank of #2 (Buy), while Waste Management has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that ONT likely has seen a stronger improvement to its earnings outlook than WM has recently. But this is just one factor that value investors are interested in.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

ONT currently has a forward P/E ratio of 13.05, while WM has a forward P/E of 29.03. We also note that ONT has a PEG ratio of 0.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WM currently has a PEG ratio of 2.88.

Another notable valuation metric for ONT is its P/B ratio of 1.65. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, WM has a P/B of 9.48.

These are just a few of the metrics contributing to ONT's Value grade of A and WM's Value grade of C.

ONT sticks out from WM in both our Zacks Rank and Style Scores models, so value investors will likely feel that ONT is the better option right now.

On July 07, 2026, Waste Management Inc (WM) shares rose 3.6% to a current price of $237.21. The stock has experienced a 52-week range of $194.11 to $248.13, ind

JPMorgan Chase (NYSE:JPM | JPM Price Prediction) spent the past decade transforming from a diversified megabank into the undisputed heavyweight of American finance.

Key Takeaways WM benefits from its waste, recycling and disposal assets plus landfill gas-to-renewable energy projects.WM focuses on pricing, cost control and technology to protect margins and improve service reliability.WM raised dividends from $1.1B in 2023 to $1.3B in 2025. Its shares gained 5.2% over the past month. Waste Management (WM - Free Report) benefits from its robust waste collection, recycling and disposal infrastructure, supporting sustainable long-term growth while building competitive advantages. The company is converting landfill gas into renewable energy by integrating modern technology and process improvements.

WM is focused on pricing and cost control to maintain healthy profit margins. It ensures that price adjustments are aligned with the quality and reliability of its services by optimizing routes, improving service delivery and operational processes.

Despite fluctuating economic conditions, the company is carefully eliminating unnecessary costs to boost margin protection. The integration of modern technology, recent acquisitions and process improvements lowers costs, boosts service reliability, expands market reach and enhances customer satisfaction.

WM has demonstrated a strong commitment to its shareholders through consistent dividend payments. It paid dividends of $1.1 billion, $1.2 billion and $1.3 billion in 2023, 2024 and 2025, respectively. This consistency has persisted despite fluctuations in the company’s cash position, underscoring its dedication to creating long-term value for investors. Partly due to this shareholder-friendly policy, the stock has gained 5.2% over the past month.

Other Factors That Make WM an Attractive PickSolid Rank: Waste Management currently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or #2 offer attractive investment opportunities for investors. You can see the complete list of today’s Zacks #1 Rank stocks here.

Positive Earnings Surprise History: WM has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in two of the last four reported quarters and matched twice, delivering an earnings surprise of 0.6% on average.

Strong Growth Prospects: The Zacks Consensus Estimate for WM’s second-quarter 2026 revenues is pegged at $6.69 billion, indicating a 4% increase from the year-ago quarter. For fiscal 2026, the consensus estimate is $26.5 billion, indicating a 5.1% year-over-year growth.

The consensus estimate for second-quarter earnings is pegged at $2.01 per share, indicating 4.5% year-over-year growth. For the full year, the consensus mark is pegged at $8.15 per share, implying 8.7% growth from the prior year.

Other Stocks to ConsiderSome other top-ranked stocks in the broader Zacks Business Services sector are Corpay Inc. (CPAY - Free Report)  and Verisk Analytics (VRSK - Free Report) .

Corpay carries a Zacks Rank #2 at present. It has a long-term earnings growth expectation of 14.3%.

CPAY delivered a trailing four-quarter earnings surprise of 2.5%, on average.

Verisk also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 11.7%.

VRSK beat earnings estimates in each of the last four quarters, with the earnings surprise being 6.3%, on average.

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HOUSTON--(BUSINESS WIRE)--WM (NYSE: WM) announced that it will release second quarter financial results after the close of the market on Tuesday, July 28, 2026 and host its investor conference call Wednesday, July 29, 2026 at 10 a.m. ET.

The live audio webcast of the earnings call will be accessible to the public by visiting investors.wm.com and selecting “Events & Presentations” from the website menu. A replay of the audio webcast will be available at the same location following the conclusion of the call.

Participants who will be dialing in for the earnings call must register to obtain their dial in and passcode details. Participants may pre-register at any time, including up to and after the call start time.

The Company participates in investor presentations and conferences throughout the year. Interested parties can find a schedule of these conferences at investors.wm.com by selecting "Events & Presentations."

ABOUT WM

WM (WM.com) is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial, medical and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them pursue their sustainability goals. In North America, WM has the largest disposal network and collection fleet, is the largest recycler and is a leader in beneficial use of landfill gas, with a growing network of renewable natural gas plants and the most landfill gas-to-electricity plants, as well as the largest heavy-duty natural gas truck fleet in the industry. WM also provides collection and disposal services of regulated medical waste and secure information destruction services in the U.S., Canada and Western Europe. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.

More News From WM

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Waste Management (WM - Free Report) closed the most recent trading day at $223.26, moving +2.02% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, lost 0.43%.

Coming into today, shares of the garbage and recycling hauler had gained 1.56% in the past month. In that same time, the Business Services sector lost 2.53%, while the S&P 500 lost 1.34%.

The upcoming earnings release of Waste Management will be of great interest to investors. It is anticipated that the company will report an EPS of $2.01, marking a 4.69% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $6.69 billion, up 4.03% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $8.15 per share and a revenue of $26.5 billion, demonstrating changes of +8.67% and +5.13%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Waste Management. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Waste Management possesses a Zacks Rank of #3 (Hold).

In the context of valuation, Waste Management is at present trading with a Forward P/E ratio of 26.84. This denotes no noticeable deviation relative to the industry average Forward P/E of 26.84.

One should further note that WM currently holds a PEG ratio of 2.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Waste Removal Services industry had an average PEG ratio of 2.29 as trading concluded yesterday.

The Waste Removal Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 250 industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Waste Management (NYSE:WM | WM Price Prediction) is the name every defensive-sector screener is spitting out this June as macro volatility sends investors scrambling for recession-proof cash flows. But here’s what you should actually be watching.

WM has become the consensus hide-out trade, and consensus hide-out trades are where retirement capital goes to underperform. The headline numbers look fine on the surface: Q1 2026 adjusted EPS of $1.81 beat consensus, and free cash flow nearly doubled to $920 million. Look closer. Revenue of $6.23 billion missed expectations, marking the third consecutive quarterly revenue miss after Q3 and Q4 2025 also came in light. Revenue growth has decelerated from 19.03% in Q2 2025 to just 3.47% in Q1 2026.

The Stericycle deal is still a brick in the saddlebags. Full-year 2025 interest expense jumped to $912 million from $598 million, integration costs ran $137 million for the year, and management took $274 million in asset impairments after suspending its plastic film recycling operations. With bond yields punishing capital-intensive infrastructure plays, paying 32 times trailing earnings for a leveraged integrator that just whiffed on the top line three quarters running is the kind of trade that looks safe until it isn’t.

The Trash-to-Cash Operator Quietly Executing Redirect your attention to Republic Services (NYSE:RSG), the second-largest non-hazardous waste operator in the country and the quieter half of this duopoly. Three reasons it stands out versus WM right now.

1. Execution that actually shows up on the scoreboard. RSG beat both EPS and revenue in Q1 2026, posting $1.70 against a $1.64 estimate on $4.113 billion in revenue. Full-year 2025 closed at $7.02 per share, also a beat. EPS has surprised to the upside in three straight quarters.

2. Pricing power and margin expansion the competition can’t match. Core price on total revenue rose 5.7% in Q1, with open-market pricing up 8.4%. Adjusted EBITDA margin expanded 50 basis points to 32.1%, and free cash flow jumped 73.85% year over year to $984 million. CEO Jon Vander Ark called out “disciplined pricing and effective cost management” as the drivers, and the cadence backs him up: margin expanded in every quarter from Q2 2025 forward.

3. A clean balance sheet and a disciplined shareholder-return engine. RSG is deploying $700+ million in tuck-in acquisitions year to date without bloating leverage, returned $1.6 billion to shareholders in 2025, and has $1.3 billion remaining on its buyback authorization. The next dividend of $0.625 hits accounts on July 15, 2026. Bill Gates’ Cascade Investment just bought 366,000 shares for roughly $74.0 million; Partners Group and King Luther are accumulating right alongside.

The kicker: RSG is down 16.26% over the past year and trading near its 52-week low at $208.09, against a Wall Street average price target of $243.58. The forward earnings multiple sits at 29, slightly cheaper than WM’s 27 forward but attached to far cleaner financials and a beat-driven track record.

Republic Services stands out as the cleaner operator in the waste duopoly heading into the back half of 2026, with execution and balance-sheet metrics that compare favorably to WM.

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Waste Management (NYSE:WM | WM Price Prediction) is often discussed as a long-duration retirement holding for the next two or three decades because it is the closest thing the public markets offer to a regulated economic utility with private-sector pricing power. The forever case rests on three pillars: a network that cannot be rebuilt, an income stream that compounds through every cycle, and a business that does not need a strong economy to function.

Pillar 1: A network competitors cannot replicate WM operates the largest network of landfills and transfer stations in North America, and that asset density is the moat. Strict regulatory hurdles and intense environmental pushback make it almost impossible for new competitors to build new landfills near major metropolitan hubs. CEO Jim Fish framed the consequence on the Q1 2026 call: “As landfill capacity slowly comes offline for the industry or moves to more center-U.S. locations away from big cities, we end up in a better position because our lives, our landfill lives, are longer than the rest of the industry. It gives us the ability to raise price.” That scarcity showed up in core pricing of 6.3% and MSW yield of 6.9%, driving 110 basis points of margin expansion in the Collection and Disposal segment.

Pillar 2: Income that compounds quietly The dividend has climbed every year for more than a decade, rising from $1.70 annualized in 2017 to $3.78 in 2026, with the latest quarterly payout stepping up from $0.825 to $0.945. Coverage is overwhelming. Dividend payouts have run at 22% to 24% of operating cash flow for years. On top of the payout, management plans roughly $2 billion in buybacks during 2026 and intends to deploy over 90% of free cash flow back to shareholders. Free cash flow nearly doubled in Q1 to $920 million.

Pillar 3: Survival through every cycle Trash collection is non-discretionary. Households and businesses generate waste in expansions, recessions, and everything in between, and roughly 40% to 45% of revenue is indexed to inflation measures that reset quarterly. The stock carries a beta of 0.457, reflecting how dampened its swings are versus the broader market. Operating cash flow grew from $2.498 billion in 2015 to $6.043 billion in 2025, advancing through a pandemic, a rate-hike cycle, and a regional banking scare without a missed dividend.

The scenario where it lags In sharp risk-on rallies led by high-beta tech and discretionary names, WM underperforms. It has underperformed this past year. Shares are down 6.51% over twelve months while the S&P 500 advanced. Recycled commodity prices ($65/ton vs $88/ton prior year) and Renewable Fuel Standard credit volatility add quarter-to-quarter noise. None of that disturbs the forever thesis. The moat lives in the landfill network, the recycling spot market is quarterly noise, and a low-beta compounder lagging during euphoric rallies is the trade-off that lets it survive the drawdowns that follow.

At roughly $214.60, shares sit closer to the 52-week low of $191.77 than the high of $246.08, with a forward P/E of 26 and a dividend that has never been cut. For an investor in their 50s or 60s focused on stability, the profile suits a long-duration holding horizon rather than short-term trading, with consistent income and low volatility relative to the broader market.

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Waste Management (NYSE:WM | WM Price Prediction) is a stock worth owning for decades because it sits on top of an irreplaceable physical network that prints predictable, inflation-protected cash flow no matter what the broader market does. I have been studying WM for years, and the recent industrial-led pullback that has pushed shares to $216.74, well off the $246.08 52-week high, is exactly the kind of dislocation long-term owners wait years for.

Pillar One: Durability That Cannot Be Replicated You cannot build another WM. Landfill permits take decades to secure, transfer stations sit on irreplaceable real estate, and municipal collection contracts renew with embedded pricing escalators. CEO Jim Fish describes it as an “unreplicable solid waste network” and the math backs him up: WM grew core pricing 6.3% in Q1, expanded collection and disposal margins 110 basis points to 38.5%, and noted that MSW yield came in at 6.9% as competitor landfill capacity comes offline. That is monopoly economics in a regulated industry, paired with a CNG truck fleet that has structurally reduced diesel exposure.

Pillar Two: Income You Can Set and Forget WM has raised its dividend every year from 2009 through 2026, representing 17+ consecutive years of annual increases. The quarterly payout just stepped up to $0.945, an annual run rate of $3.78. Behind the dividend sits enormous cash generation: Q1 free cash flow nearly doubled year over year to $920 million, full-year 2026 FCF guidance is $3.75 billion to $3.85 billion, and management plans to return roughly $3.5 billion to shareholders this year, split between $1.5 billion in dividends and $2 billion in buybacks. In Q1 alone, WM returned about $730 million to owners. The dividend is a byproduct of that cash machine.

Pillar Three: It Survives Every Cycle Trash does not stop in a recession. WM’s beta of 0.457 tells you how the stock behaves when markets convulse, and the Q1 results, delivered through a brutal East Coast winter that shut some facilities for as many as 10 days, still produced net income growth of 13.5%. Recycled commodity prices collapsed from $88/ton to $65/ton year over year and the recycling segment still grew EBITDA 18% thanks to automation. Over the past decade, shares have returned 317% through two bear markets, a pandemic, and a rate-hike cycle.

When WM Will Disappoint You WM will lag, badly at times, when speculative growth and AI names rip. In the year since June 2025, shares are down 6% while the broader market climbed. That is the price of admission for a defensive compounder, and it does not change the thesis. You are buying WM so that the income shows up and the network keeps compounding while everything else swings, accepting that it will lag the Invesco QQQ Trust (NASDAQ:QQQ) in a melt-up.

Worth noting: eight directors bought stock on May 15, 2026 at $220.71 per share. Boards rarely line up like that unless they see the same thing patient owners see, which is a high-quality compounder marked down by a market focused elsewhere. For investors who believe predictable cash flow and an irreplaceable physical network outweigh the opportunity cost of lagging during AI-led rallies, WM fits a long-duration, income-reinvestment mandate.

National Waste & Recycling Association Study Showed an Estimated 5,000 Battery-Related Fires Occur at Recycling Facilities Annually Nationwide HOUSTON, June 15, 2026 /PRNewswire/ -- WM (NYSE: WM), North America's leading environmental solutions provider and largest recycler, has added a fourth rule to its Recycle Right® list of items that should never go in recycling and trash bins – batteries – as batteries can pose a fire risk that could injure workers or impact facilities. Batteries include alkaline batteries, the most common household batteries, as well as lithium-ion batteries.

TORONTO, May 20, 2026 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that it has entered into definitive agreements with Agnico Eagle Mines Limited (“Agnico Eagle”) and Waratah Capital Advisors Limited, on behalf of certain investment funds managed by it, (“Waratah”) pursuant to which each of Agnico Eagle and Waratah have agreed to acquire such number of common shares that will result in each holding a partially-diluted ownership position of, or control or direction over, approximately 19.9% in the Company, which will result in a capital injection of approximately C$56.0 million into the Company at closing.

Brian Penny, Chief Executive Officer of Wallbridge commented:

“We are delighted to announce these cornerstone investments from our long-time shareholder Agnico Eagle and by Waratah, who we welcome as a significant new shareholder in the Company.

In our view, these investments underscore the quality and scale of our flagship asset, Fenelon, while providing the capital required to advance it through infill drilling and a pre-feasibility study, which we expect to deliver in late 2027 or early 2028.

As part of this next chapter, we also intend to seek shareholder approval in due course to complete a 20:1 share consolidation and a renaming of the Company to Sunday Lake Gold.

With this capital injection from our cornerstone investors, we will be well positioned to advance Fenelon and unlock significant value for all shareholders as we enter this important new phase in the Company’s history.”

Key Highlights

Strategic investments will be made at a price of C$0.092 per common share, representing a premium of 15% to the Company’s 20-day volume-weighted average price on the Toronto Stock Exchange.The net proceeds of the offering, along with the Company’s existing financial resources, is expected to fully fund completion of a pre-feasibility study on the Fenelon project.Agnico Eagle and Waratah will each have, or exercise control or direction over, a 19.9% partially-diluted position in the Company (including the common shares and warrants that Agnico Eagle already owns).The Company intends to seek shareholder approval for a name change to “Sunday Lake Gold” and a 20:1 share consolidation. Further information regarding such matters will be available in due course. Additional Details

Agnico Eagle has agreed to purchase 243,927,966 common shares of the Company for gross proceeds of approximately C$22.4 million, which together with Agnico Eagle’s existing ownership position of common shares and common share purchase warrants, will result in a partially-diluted ownership interest of 19.9% in the Company.

Waratah, on behalf of certain investment funds managed by it, agreed to purchase 364,339,130 common shares of the Company for gross proceeds of approximately C$33.5 million, which will result in such funds having an aggregate pro forma ownership interest of 19.9% in the Company.

In connection with the investments, at closing the Company will enter into an investor rights agreement with each of Agnico Eagle and Waratah, whereby each investor will be entitled to certain rights, provided that they each maintain certain ownership thresholds in the Company, including but not limited to: participation rights, top-up rights and the right to appoint at least one member to the Company’s Board of Directors. Agnico Eagle will also have the ability to participate in a technical committee to provide recommendations and advice to the Company on technical matters.

Closing is subject to customary conditions for a transaction of this nature, including the approval of the Toronto Stock Exchange.

The Company intends to call a special meeting of shareholders in Q3 of 2026 in order to authorize a 20:1 share consolidation and a name change to “Sunday Lake Gold”. A circular containing further information regarding such matters will be made available in due course.

The Company intends to complete the fully-funded 2026 exploration program at Martiniere, Casault, and Grasset, which is already in progress, but will thereafter dedicate the vast majority of its efforts and capital on Fenelon.

Advisors and Counsel

BMO Capital Markets acted as financial advisor and Stikeman Elliott LLP acted as legal advisor to the Company. Davies Ward Phillips & Vineberg LLP acted as legal advisor to Agnico Eagle and McMillan LLP acted as legal advisor to Waratah.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec’s Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 598 square kilometres that extends approximately 82 kilometres along the Detour-Fenelon gold trend. The land position is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous greenfield gold projects.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Cautionary Note Regarding Forward-Looking Information

The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: the closing of the investments, statements regarding the use of proceeds of the investments, the 20:1 share consolidation and name change, the intention to complete the 2026 exploration program, the advancement of a pre-feasibility study for Fenelon and the unlocking of significant value for shareholders.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Company’s mineral projects; the accuracy of key assumptions, parameters or methods used to estimate MREs and PEAs; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States Investors

Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

TORONTO, May 22, 2026 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that it has closed its previously announced private placement of common shares with Agnico Eagle Mines Limited (“Agnico Eagle”) and Waratah Capital Advisors Limited, on behalf of certain investment funds managed by it (“Waratah”). Under the terms of the private placement, Agnico Eagle purchased 243,927,966 common shares of the Company for gross proceeds of approximately C$22.4 million and Waratah, on behalf of certain investment funds managed by it, purchased 364,339,130 common shares of the Company for gross proceeds of approximately C$33.5 million. As of closing, each of Agnico Eagle and Waratah has a partially-diluted ownership position of, or control or direction over, approximately 19.9% of the common shares of the Company. The net proceeds of the private placement, along with the Company’s existing financial resources, is expected to fully fund completion of a pre-feasibility study on the Fenelon project.

The Company intends to complete the fully-funded 2026 exploration program at Martiniere, Casault, and Grasset, which is already in progress, but will thereafter dedicate the vast majority of its efforts and capital on Fenelon.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec’s Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 598 square kilometres that extends approximately 82 kilometres along the Detour-Fenelon gold trend. The land position is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous greenfield gold projects.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Cautionary Note Regarding Forward-Looking Information

The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding the use of proceeds of the investments, the advancement of a pre-feasibility study for Fenelon and the completion of the 2026 exploration program.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Company’s mineral projects; the accuracy of key assumptions, parameters or methods used to estimate MREs and PEAs; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States Investors

Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

Bill Gates built one of the world's most valuable software companies, and yet the trust that funds his foundation no longer owns a single Microsoft share. That sounds dramatic, but the more revealing detail is what remains inside the Gates Foundation Trust: a public equity portfolio of roughly $33 billion, with about 46% now sitting in just two stocks: Berkshire Hathaway and Waste Management.

On May 27, 2026, we delve into the discounted cash flow (DCF) analysis for Waste Management Inc WM . The company has experienced a challenging price performance recently, with a 1-week decline of 3.1%, a 1-month drop of 6.1%, and a year-to-date decrease of 1.5%. Over the past year, WM's stock has fallen by 7.6%. Here are some key points from our analysis:

DCF Earnings-based intrinsic value of $131.61 compared to the current price of $215.48, indicating a margin of safety of -63.7%. DCF Free Cash Flow (FCF)-based intrinsic value of $102.81, suggesting a second opinion on valuation. GF Score™ of 89/100, indicating a high reliability of the DCF inputs. What Is WM Worth? DCF Earnings-Based Model In our DCF earnings-based model, we utilize a two-stage approach to estimate Waste Management Inc's intrinsic value. The first stage accounts for a high growth phase, where we project earnings growth for the first ten years, followed by a terminal phase with a more conservative growth rate. Below are the assumptions used in our model:

Parameter Value Current EPS (TTM, excl. non-recurring) $7.64 10-Year Growth Rate 11.1% 10-Year Treasury Rate 4.47% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The growth stage assumes an annual EPS growth of 11.1% for the first ten years, discounted at a rate of 11%. The terminal stage anticipates a slower growth rate of 4% for the subsequent ten years, also discounted at 11%. The calculation summary is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 11.1%, discounted at 11% $76.78 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $54.83 Intrinsic Value Growth + Terminal $131.61 Comparing the current price of $215.48 to the intrinsic value of $131.61 reveals that Waste Management Inc is modestly overvalued, with a margin of safety of -63.7%. It is important to note that GuruFocus uses EPS excluding non-recurring items, as research indicates that stock prices correlate more closely with earnings than with free cash flow. For further details, visit the WM DCF Calculator.

What Does the Free Cash Flow DCF Say? In addition to the earnings-based DCF model, we also analyzed Waste Management Inc using a free cash flow (FCF) DCF model. The FCF-based intrinsic value is calculated to be $102.81. When comparing this to the earnings-based intrinsic value of $131.61, the two models diverge, indicating a significant overvaluation of the stock with a margin of safety of -109.6%.

How Does GF Value™ Compare to the DCF Models? According to GuruFocus' proprietary measure, the GF Value™ for Waste Management Inc is $244.08, suggesting that the stock is undervalued by 11.7%. This third valuation perspective contrasts with the DCF models, which indicate overvaluation. The GF Value™ is derived from historical trading multiples, past business growth, and future performance estimates. Thus, we see a disagreement among the three models regarding the valuation of WM. For more insights, visit the GF Value™ page.

What Does WM's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtesting from 2006 to 2021. Below is the breakdown of Waste Management Inc's GF Score™:

Metric Rating GF Score™ 89/100 Financial Strength 4/10 Profitability 9/10 Growth 9/10 Valuation 10/10 Momentum 5/10 With a predictability rank of 1 out of 5 stars, it is important to note that higher predictability ratings typically result in more reliable DCF estimates for stocks. For more information, visit the WM stock page.

Key Assumptions and Limitations It is crucial to understand that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings, such as Waste Management Inc's 1/5 stars, tend to produce less reliable DCF estimates. Additionally, the terminal growth rate of 4% used in our model is a simplifying assumption that may not reflect future market conditions accurately.

What This Means for Investors In synthesizing the findings from the three valuation models—DCF earnings-based, DCF FCF-based, and GF Value™—it is clear that Waste Management Inc is currently overvalued. The DCF models suggest significant overvaluation, while the GF Value™ indicates a potential undervaluation. Overall, investors should approach WM with caution given the discrepancies in valuation perspectives. For the full DCF analysis, visit the WM DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is WM's intrinsic value based on DCF?

[Answer: earnings-based $131.61, FCF-based $102.81]

Is WM overvalued or undervalued?

[Answer using DCF + GF Value™ consensus]

How reliable is the DCF model for WM?

[Answer using predictability rank 1/5]

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

It has been about a month since the last earnings report for Waste Management (WM - Free Report) . Shares have lost about 6.4% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Waste Management due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Waste Management, Inc. before we dive into how investors and analysts have reacted as of late.

WM Beats Q1 Earnings EstimatesWM reported first-quarter 2026 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues fell short.

The company posted adjusted earnings of $1.81 per share, which beat the Zacks Consensus Estimate of $1.75 by 3.4%. The bottom line improved from the year-ago quarter’s adjusted figure of $1.67.

Revenues of $6.23 billion missed the Zacks Consensus Estimate of $6.29 billion by 1.1%. However, the top line increased 3.5% year over year.

WM’s Q1 HighlightsWaste Management delivered solid profitability in the quarter, backed by disciplined pricing, cost optimization and contributions from sustainability-driven growth initiatives.

Adjusted operating EBITDA rose 5.9% year over year, while the margin expanded 70 basis points, reflecting strong execution across the business.

The Collection and Disposal segment remained a key growth driver, benefiting from favorable price-to-cost spreads and operational efficiencies. Meanwhile, Recycling and Renewable Energy businesses gained from higher volumes and automation-led improvements.

Segmental PerformanceRevenue growth was primarily driven by core pricing gains of 6.3% and solid yield in collection and disposal operations. However, overall volumes declined 1.5% due to harsh winter weather, strategic shedding of lower-margin residential business and difficult year-over-year comparisons related to prior wildfire cleanup activity.

The Healthcare Solutions business delivered strong EBITDA growth during the quarter, supported by effective cost management and synergy realization.

Financial PositionWM generated robust cash flows during the quarter. The operating cash flow totaled $1.5 billion, reflecting a 24% year-over-year increase. The free cash flow came in at $920 million, significantly higher than $475 million in the prior-year quarter.

The company also maintained a strong capital allocation strategy, returning approximately $729 million to shareholders through dividends and share repurchases during the quarter.

OutlookManagement expressed confidence in the company’s momentum and reaffirmed its 2026 outlook. Continued investments in recycling, renewable energy, healthcare solutions and automation are expected to support growth and margin expansion.

ConclusionWM delivered a solid earnings beat in the first quarter of 2026, reflecting strong operational execution and margin expansion. While revenues slightly missed expectations, the company’s pricing strength, cost discipline and growing sustainability businesses position it well for the remainder of the year.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.

VGM ScoresCurrently, Waste Management has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Waste Management has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

The Microsoft founder's foundation recently added this healthcare stock to its portfolio.

Waste Management, Inc. (WM) Presents at 46th Annual William Blair Growth Stock Conference Transcript

Investors interested in Waste Removal Services stocks are likely familiar with Veolia Environnement SA (VEOEY) and Waste Management (WM). But which of these two stocks offers value investors a better bang for their buck right now?

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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Stock to Watch: Waste Management (WM - Free Report) Headquartered in Houston, Texas, Waste Management Inc. is a leading provider of comprehensive waste management services in North America. Formerly known as USA Waste Services, Inc., the company changed its name to Waste Management, Inc. in 1998.

WM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. WM has a Growth Style Score of B, forecasting year-over-year earnings growth of 8.7% for the current fiscal year.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.01 to $8.15 per share. WM also boasts an average earnings surprise of +0.6%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, WM should be on investors' short list.