WM — Jul 28, 2026 release

  2026 OUTLOOK   With two quarters of the year complete, the Company remains confident in its ability to deliver its full-year outlook for adjusted operating EBITDA between $8.15 and $8.25 billion and free cash flow of between $3.75 and $3.85 billion. Revenue is now expected to be between $26.275 and $26.475 billion dollars, reflecting a reduction of approximately 0.6% compared to the prior outlook, primarily driven by lower volume expectations, partially offset by higher energy surcharges. Accordingly, adjusted operating EBITDA margin in 2026 is now expected to be between 31.0% and 31.2%, representing an increase of 20 basis points. Despite a slightly lower revenue outlook, the resilience of the Company’s operating model, including a proven ability to flex costs and drive productivity, supports continued confidence in achieving original profitability and cash flow targets. (a)         (a) The information labeled as adjusted in this press release, as well as free cash flow, are non-GAAP measures. Please see “Non-GAAP Financial Measures” below and the reconciliations in the accompanying schedules for more information.   (b) Management defines operating EBITDA as GAAP income from operations before depreciation, depletion, amortization and accretion; this measure may not be comparable to similarly titled measures reported by other companies.   (c) Beginning in 2026, landfill accretion