HighGravityDataSigned in · PRO
Guidance history, every release
Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing
| Metric | Oct 28, 2024 FY24 Q3 | Jan 29, 2025 FY24 Q4 | Apr 28, 2025 FY25 Q1 | Jul 28, 2025 FY25 Q2 | Oct 27, 2025 FY25 Q3 | Jan 28, 2026 FY25 Q4 | Apr 28, 2026 FY26 Q1 | Jul 28, 2026 FY26 Q2 |
|---|---|---|---|---|---|---|---|---|
| For FY2027 | ||||||||
| Adjusted operating EBITDA for Recycling Processing and Sales and Renewable Energy segments combined with landfill gas royalties realized by the Collection and Disposal segment | — | — | — | — | — | New“approach $1 billion” | — | — |
| Recycling Automation and Growth Projects Operating EBITDA | — | New“$290 - $300” | — | — | — | — | — | — |
| Renewable Natural Gas Growth Projects Operating EBITDA | — | New“$470 - $500” | — | — | — | — | — | — |
| Sustainability Growth Operating EBITDA | — | New“$760 - $800” | — | — | — | — | — | — |
| Anticipated run-rate synergies (including cross-selling opportunities) | — | — | — | New“$300 million of operating EBITDA” | — | — | — | — |
| Healthcare Solutions run-rate synergies | — | New“$250 million” | — | — | — | — | — | — |
| Run-rate contributions from previously announced sustainability growth projects | — | — | — | — | — | New“almost all of the full run-rate contributions from its previously announced projects” | — | — |
| Run-rate synergies | — | — | — | New“$300 million of operating EBITDA” | — | — | — | — |
| Stericycle acquisition synergies (run-rate) | — | New“$250 million” | — | — | — | — | — | — |
| Synergies from the acquisition | — | New“$250 million” | — | — | — | — | — | — |
| For FY2026 | ||||||||
| Healthcare Solutions business revenue growth | — | — | — | — | — | New“around 3%” | — | — |
| Revenue | — | — | — | — | — | New“$26,425 - $26,625” | — | Lowered“between $26.275 and $26.475 billion dollars” |
| Revenue - Projected Year-Over-Year Change at Midpoint | — | — | — | — | — | New“Growth of 5.2%” | — | — |
| Rollover from solid waste acquisitions - revenue contribution | — | — | — | — | — | New“about $65 million” | — | — |
| Adjusted operating EBITDA | — | — | — | — | — | New“$8,150 - $8,250” | — | Reiterated“between $8.15 and $8.25 billion” |
| Adjusted operating EBITDA - Projected Year-Over-Year Change at Midpoint | — | — | — | — | — | New“Growth of 6.2% on a comparable basis, reflecting a change in the classification of accretion expense beginning in 2026 (i)” | — | — |
| 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 | — | — | — | — | — | New“between $235 and $255 million” | — | — |
| Adjusted operating EBITDA margin | — | — | — | — | — | New“30.8%-31.0%” | — | Raised“between 31.0% and 31.2%” |
| Adjusted operating EBITDA margin - Projected Year-Over-Year Change at Midpoint | — | — | — | — | — | New“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” | — | — |
| Recycling Automation and Growth Projects Operating EBITDA | — | New“$250 - $260” | — | — | — | — | — | — |
| Renewable Natural Gas Growth Projects Operating EBITDA | — | New“$350 - $380” | — | — | — | — | — | — |
| Rollover from solid waste acquisitions - adjusted operating EBITDA contribution | — | — | — | — | — | New“$25 million” | — | — |
| Sustainability Growth Operating EBITDA | — | New“$600 - $640” | — | — | — | — | — | — |
| Accretion expense | — | — | — | — | — | New“approximately $150 million” | — | — |
| Annual dividend per share | — | — | — | — | — | New“$3.78” | — | — |
| Blended average renewable natural gas value assumption (sustainability outlook) | — | New“$26 per MMBtu” | — | — | — | — | — | — |
| Blended average single-stream recycled commodity price (outlook assumption) | — | — | — | — | — | New“approximately $70 per ton” | — | — |
| Capital expenditures - sustainability growth investments | — | — | — | — | — | — | New“(200 )” | — |
| Capital expenditures - sustainability growth investments (Scenario 1) | — | — | — | — | — | — | — | New“(250 )” |
| Capital expenditures to support the business | — | — | — | — | — | — | New“(2,450 )” | — |
| Capital expenditures to support the business (Scenario 1) | — | — | — | — | — | — | — | New“(2,400 )” |
| Capital expenditures to support the business (Scenario 2) | — | — | — | — | — | — | — | New“(2,500 )” |
| Capital spending on two recently approved renewable natural gas facilities and one new recycling growth project | — | — | — | — | — | New“about $85 million” | — | — |
| Capital to support the business | — | — | — | — | — | New“$2,450 - $2,550” | — | — |
| Capital to support the business - Projected Year-Over-Year Change at Midpoint | — | — | — | — | — | New“Reduction of about $100 million” | — | — |
| Contracted renewable natural gas price (60% of expected volume) | — | — | — | — | — | New“about $27 per MMBtu” | — | — |
| Core price | — | — | — | — | — | New“between 5.4% and 5.8%” | — | — |
| Estimated annual dividends paid to shareholders | — | — | — | — | — | New“$1.5 billion” | — | — |
| Free cash flow | — | — | — | — | New“approach $3.8 billion” | Widened“$3,750 - $3,850” | — | Reiterated“between $3.75 and $3.85 billion” |
| Free cash flow - Projected Year-Over-Year Change at Midpoint | — | — | — | — | — | New“Growth of 29.4%” | — | — |
| Free cash flow (Scenario 1) | — | — | — | — | — | — | — | New“$ 3,750” |
| Free cash flow (Scenario 2) | — | — | — | — | — | — | — | New“$ 3,850” |
| Free cash flow before sustainability growth investments | — | — | — | — | — | — | New“$ 3,950” | — |
| Free cash flow without sustainability growth investments (Scenario 1) | — | — | — | — | — | — | — | New“$ 4,000” |
| Free cash flow without sustainability growth investments (Scenario 2) | — | — | — | — | — | — | — | New“$ 4,100” |
| Increase in annual dividend | — | — | — | — | — | New“$0.48 per share” | — | — |
| Investment in solid waste acquisitions | — | — | — | — | — | New“$100 to $200 million” | — | — |
| Leverage ratio target | — | — | — | — | — | New“between 2.5x and 3.0x” | — | — |
| Net cash provided by operating activities | — | — | — | — | — | — | New“$ 6,300” | — |
| Net cash provided by operating activities (Scenario 1) | — | — | — | — | — | — | — | New“$ 6,300” |
| Net cash provided by operating activities (Scenario 2) | — | — | — | — | — | — | — | New“$ 6,450” |
| Overall anticipated blended average price of renewable natural gas | — | — | — | — | — | New“approximately $26 per MMBtu” | — | — |
| Proceeds from divestitures of businesses and other assets, net of cash divested | — | — | — | — | — | — | New“100” | — |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 1) | — | — | — | — | — | — | — | New“100” |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 2) | — | — | — | — | — | — | — | New“150” |
| Recycling Automation and Growth Projects Capital Expenditures | — | New“$65-$85” | — | — | — | — | — | — |
| Recycling projects to be completed | — | — | — | — | — | New“four additional” | — | — |
| Renewable natural gas generation | — | — | — | — | — | New“between 21 and 22 million MMBtu” | — | — |
| Renewable Natural Gas Growth Projects Capital Expenditures | — | New“$55-$85” | — | — | — | — | — | — |
| Renewable natural gas plants to be completed | — | — | — | — | — | New“six additional” | — | — |
| Resumption of share repurchases | — | — | — | — | — | New“first quarter of 2026” | — | — |
| Return to shareholders through dividends and share repurchases | — | — | — | — | — | New“approximately $3.5 billion” | — | — |
| Share repurchases | — | — | — | — | — | New“approximately $2 billion” | — | — |
| Shareholder returns (dividends and share repurchases) | — | — | — | — | — | New“approximately $3.5 billion” | — | — |
| Single-stream recycled commodity price assumption (sustainability outlook) | — | New“$125 per ton” | — | — | — | — | — | — |
| Sustainability growth capital (j) | — | — | — | — | — | New“About $200” | — | — |
| Sustainability growth capital (j) - Projected Year-Over-Year Change at Midpoint | — | — | — | — | — | New“Reduction of more than $400 million” | — | — |
| Targeted leverage ratio | — | — | — | — | New“between 2.5 and 3.0 times” | — | — | — |
| Total Sustainability Growth Capital | — | New“$120 - $170” | — | — | — | — | — | — |
| Uncontracted/market-rate renewable natural gas price (remaining 40% of expected volume) | — | — | — | — | — | New“approximately $24.50 per MMBtu” | — | — |
| Volumes | — | — | — | — | — | New“between 0.2% and 0.6%” | — | — |
| Yield | — | — | — | — | — | New“between 3.2% and 3.6%” | — | — |
| For FY2025 | ||||||||
| Revenue | — | New“$25,550 - $25,800” | — | — | — | — | — | — |
| Revenue - projected year-over-year change at midpoint | — | New“Growth of 16.4%, including 5.7% organic growth and 10.7% acquisition growth” | — | — | — | — | — | — |
| Rollover from solid waste acquisitions - revenue contribution | — | New“$150 million” | — | — | — | — | — | — |
| Total Company revenue | — | — | — | New“between $25.275 and $25.475 billion” | Lowered“approximately $25.275 billion” | — | — | — |
| WM Healthcare Solutions revenue growth (before synergies) | — | New“about 9%” | — | — | — | — | — | — |
| Adjusted operating EBITDA | — | New“$7,450 - $7,650” | — | — | Narrowed“between $7.475 and $7.625 billion” | — | — | — |
| Adjusted operating EBITDA | — | — | — | New“$7.475 and $7.625 billion” | — | — | — | — |
| Adjusted operating EBITDA - projected year-over-year change at midpoint | — | New“Growth of 15.0%” | — | — | — | — | — | — |
| Adjusted operating EBITDA growth at midpoint - Collection and Disposal | — | New“500” | — | — | — | — | — | — |
| Adjusted operating EBITDA growth at midpoint - Corporate and Other | — | New“(63)” | — | — | — | — | — | — |
| Adjusted operating EBITDA growth at midpoint - Recycling Processing and Sales | — | New“90” | — | — | — | — | — | — |
| Adjusted operating EBITDA growth at midpoint - WM Healthcare Solutions | — | New“400” | — | — | — | — | — | — |
| Adjusted operating EBITDA growth at midpoint - WM Renewable Energy | — | New“60” | — | — | — | — | — | — |
| Adjusted operating EBITDA margin | — | New“29.2%-29.7%” | — | Raised“between 29.6% and 29.9%” | — | — | — | — |
| Adjusted operating EBITDA margin - projected year-over-year change at midpoint | — | New“WM Legacy Business expected to achieve 30.7% and WM Healthcare Solutions expected to achieve 17.6%” | — | — | — | — | — | — |
| Adjusted operating EBITDA midpoint | — | — | — | New“$7.550 billion” | — | — | — | — |
| Adjusted Operating EBITDA Midpoint | — | New“$7,550” | — | — | — | — | — | — |
| Projected adjusted operating EBITDA margin | — | — | — | — | New“between 29.6% and 30.2%” | — | — | — |
| Recycling Automation and Growth Projects Operating EBITDA | — | New“$120 - $130” | — | — | — | — | — | — |
| Renewable Natural Gas Growth Projects Operating EBITDA | — | New“$150 - $160” | — | — | — | — | — | — |
| Rollover from solid waste acquisitions - adjusted operating EBITDA contribution | — | New“$35 million” | — | — | — | — | — | — |
| Sustainability Growth Operating EBITDA | — | New“$270 - $290” | — | — | — | — | — | — |
| Sustainability growth project adjusted operating EBITDA contribution | — | New“approximately $280 million” | — | — | — | — | — | — |
| Sustainability growth project adjusted operating EBITDA year-over-year growth | — | New“about $190 million” | — | — | — | — | — | — |
| Annual dividend increase | — | New“$0.30 per share” | — | — | — | — | — | — |
| Annual dividend per share | — | New“$3.30” | — | — | — | — | — | — |
| Annual production from renewable natural gas projects | New“approximately six million MMBtu” | — | — | — | — | — | — | — |
| Blended average price received for single stream recycled commodities (full year expectation) | — | — | — | New“about $80 per ton” | — | — | — | — |
| Blended average renewable natural gas value assumption (sustainability outlook) | — | New“$29.50 per MMBtu” | — | — | — | — | — | — |
| Blended average single-stream recycled commodity price | — | New“approximately $85 per ton” | — | — | — | — | — | — |
| Capital expenditures - sustainability growth investments (Scenario 1) | — | — | — | New“(600)” | — | — | — | — |
| Capital expenditures - sustainability growth investments (Scenario 2) | — | — | — | New“(650)” | — | — | — | — |
| Capital expenditures to support the business (Scenario 1) | — | — | — | New“(2,575)” | — | — | — | — |
| Capital expenditures to support the business (Scenario 2) | — | — | — | New“(2,625)” | — | — | — | — |
| Capital to support the business | — | New“$2,575 – $2,625” | — | — | — | — | — | — |
| Capital to support the business - projected year-over-year change at midpoint | — | New“Includes a $140 million increase from WM Legacy Business and a $180 million increase from WM Healthcare Solutions” | — | — | — | — | — | — |
| Collection and Disposal core price | — | New“between 5.8% and 6.2%” | — | — | — | — | — | — |
| Collection and Disposal volumes | — | New“between 0.25% and 0.75%” | — | — | — | — | — | — |
| Collection and Disposal yield | — | New“between 4.0% and 4.2%” | — | — | — | — | — | — |
| Core price | — | New“between 5.8% and 6.2%” | — | — | — | — | — | — |
| Estimated annual dividends paid to shareholders | — | New“$1.3 billion” | — | — | — | — | — | — |
| Expected total value of renewable natural gas | — | New“$30.25 per MMBtu” | — | — | — | — | — | — |
| Free cash flow | — | New“$2,675 - $2,775” | — | Raised“between $2.8 and $2.9 billion” | Reiterated“between $2.8 and $2.9 billion” | — | — | — |
| Free cash flow - projected year-over-year change at midpoint | — | New“Growth of 17.6%” | — | — | — | — | — | — |
| Free cash flow (Scenario 1) | — | — | — | New“$2,800” | — | — | — | — |
| Free cash flow (Scenario 2) | — | — | — | New“$2,900” | — | — | — | — |
| Free cash flow without sustainability growth investments (Scenario 1) | — | — | — | New“$3,400” | — | — | — | — |
| Free cash flow without sustainability growth investments (Scenario 2) | — | — | — | New“$3,550” | — | — | — | — |
| Healthcare Solutions synergies | — | New“up to $100 million” | — | — | — | — | — | — |
| Investment in solid waste acquisitions | — | New“$100 to $200 million” | — | — | — | — | — | — |
| Leverage | — | New“approximately 3.1 times” | — | — | — | — | — | — |
| Leverage ratio (year-end) | — | New“approximately 3.1 times” | — | — | — | — | — | — |
| Net cash provided by operating activities (Scenario 1) | — | — | — | New“$5,860” | — | — | — | — |
| Net cash provided by operating activities (Scenario 2) | — | — | — | New“$6,025” | — | — | — | — |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 1) | — | — | — | New“115” | — | — | — | — |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 2) | — | — | — | New“150” | — | — | — | — |
| Recycling Automation and Growth Projects Capital Expenditures | — | New“$180 - $200” | — | — | — | — | — | — |
| Renewable natural gas contracted price (about 50% of 2025 volume) | — | New“$28.80 per MMBtu” | — | — | — | — | — | — |
| Renewable Natural Gas Growth Projects Capital Expenditures | — | New“$420 - $450” | — | — | — | — | — | — |
| Renewable natural gas overall production growth | — | New“Expected to More Than Double from 2024 to 2025” | — | — | — | — | — | — |
| Renewable natural gas production volume | — | New“between 11 and 12 million MMBtu” | — | — | — | — | — | — |
| Renewable natural gas sales volume | — | New“between 10 and 11 million MMBtu” | — | — | — | — | — | — |
| RNG market-rate natural gas price assumption | — | New“$2.20 per MMBtu” | — | — | — | — | — | — |
| RNG market-rate Renewable Fuel Standard credit price assumption | — | New“$2.40” | — | — | — | — | — | — |
| RNG market-rate total value assumption | — | New“$30.25 per MMBtu” | — | — | — | — | — | — |
| Share repurchase program status | — | New“temporarily suspended” | — | — | — | — | — | — |
| Single stream commodity price expectation | — | — | — | — | New“approximately $75 per ton” | — | — | — |
| Stericycle integration synergies | — | New“up to $100 million” | — | — | — | — | — | — |
| Synergies | — | New“up to $100 million” | — | — | — | — | — | — |
| Targeted synergies | — | — | New“$80 to $100 million” | — | — | — | — | — |
| Total Sustainability Growth Capital | — | New“$600 -$650” | — | — | — | — | — | — |
| Volumes | — | New“between 0.25% and 0.75%” | — | — | — | — | — | — |
| WM Healthcare Solutions targeted synergies | — | — | New“$80 to $100 million” | Reiterated“$80 to $100 million” | — | — | — | — |
| For FY2024 | ||||||||
| Revenue growth | New“about 6%” | — | — | — | — | — | — | — |
| Adjusted operating EBITDA | New“about $6.5 billion” | — | — | — | — | — | — | — |
| Capital expenditures - sustainability growth investments (Scenario 1) | New“(925)” | — | — | — | — | — | — | — |
| Capital expenditures - sustainability growth investments (Scenario 2) | New“(975)” | — | — | — | — | — | — | — |
| Capital expenditures to support the business (Scenario 1) | New“(2,225)” | — | — | — | — | — | — | — |
| Capital expenditures to support the business (Scenario 2) | New“(2,275)” | — | — | — | — | — | — | — |
| Expectation for received recycling commodity pricing | New“approximately $90 per ton” | — | — | — | — | — | — | — |
| Free cash flow | New“$2.15 billion” | — | — | — | — | — | — | — |
| Free cash flow (Scenario 1) | New“$2,100” | — | — | — | — | — | — | — |
| Free cash flow (Scenario 2) | New“$2,200” | — | — | — | — | — | — | — |
| Free cash flow without sustainability growth investments (Scenario 1) | New“$3,025” | — | — | — | — | — | — | — |
| Free cash flow without sustainability growth investments (Scenario 2) | New“$3,175” | — | — | — | — | — | — | — |
| Net cash provided by operating activities (Scenario 1) | New“$5,125” | — | — | — | — | — | — | — |
| Net cash provided by operating activities (Scenario 2) | New“$5,300” | — | — | — | — | — | — | — |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 1) | New“125” | — | — | — | — | — | — | — |
| Proceeds from divestitures of businesses and other assets, net of cash divested (Scenario 2) | New“150” | — | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Free cash flow (Scenario 1) | — | New“$2,675” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Free cash flow (Scenario 2) | — | New“$2,775” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Free cash flow before sustainability growth investments (Scenario 1) | — | New“$3,275” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Free cash flow before sustainability growth investments (Scenario 2) | — | New“$3,425” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Net cash provided by operating activities (Scenario 1) | — | New“$5,750” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Net cash provided by operating activities (Scenario 2) | — | New“$5,900” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Proceeds from divestitures (Scenario 1) | — | New“$100” | — | — | — | — | — | — |
| Projected Free Cash Flow Reconciliation - Proceeds from divestitures (Scenario 2) | — | New“$150” | — | — | — | — | — | — |
| Stericycle acquisition closing | New“the fourth quarter of 2024” | — | — | — | — | — | — | — |
| Sustainability growth investments (capital expenditures) | New“about $950 million” | — | — | — | — | — | — | — |
| Total capital expenditures | New“$3.15 to $3.25 billion” | — | — | — | — | — | — | — |
| No period stated | ||||||||
| Revenue from rollover from solid waste acquisitions | — | New“$150 million” | — | — | — | Lowered“about $65 million” | — | — |
| Adjusted operating EBITDA from rollover from solid waste acquisitions | — | New“$35 million” | — | — | — | Lowered“$25 million” | — | — |
| Operating EBITDA opportunities from cross-selling | — | — | — | New“$50 million” | — | — | — | — |
| Leverage ratio target range | — | — | — | — | — | — | New“between 2.5 to 3.0 times total debt to EBITDA” | — |
| Recycling assets payback period | — | New“about six years” | — | — | — | — | — | — |
| Renewable natural gas project payback period | — | New“about three years” | — | — | — | — | — | — |
| Renewable natural gas projects to be commissioned | New“four additional projects” | — | — | — | — | — | — | — |
| Sustainability growth investments | New“about $950 million” | — | — | — | — | — | — | — |
| Yield | — | New“between 4.0% and 4.2%” | — | — | — | — | — | — |
Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.