Subtext

Waste Management, Inc. WM

SectorIndustrials
Transcripts70
Date range2007-07-31 – 2025-04-29
Calls charted70

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-19-9+0+9+192007 Q22009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q2 · Overall: +11.52007 Q4 · Overall: +3.62008 Q1 · Overall: +5.22008 Q2 · Overall: +9.82008 Q3 · Overall: +4.82008 Q4 · Overall: +2.92009 Q1 · Overall: -0.12009 Q2 · Overall: +0.82009 Q3 · Overall: +7.12009 Q4 · Overall: +0.62010 Q2 · Overall: +5.92010 Q3 · Overall: +2.72010 Q4 · Overall: +3.42011 Q1 · Overall: +5.32011 Q2 · Overall: +8.92011 Q3 · Overall: +8.02011 Q4 · Overall: +10.92012 Q1 · Overall: +9.52012 Q2 · Overall: +1.42012 Q3 · Overall: +5.22012 Q4 · Overall: +8.32013 Q1 · Overall: +8.22013 Q2 · Overall: +4.52013 Q3 · Overall: +5.12013 Q4 · Overall: +2.22014 Q1 · Overall: +9.32014 Q2 · Overall: +1.62014 Q3 · Overall: +7.62014 Q4 · Overall: +8.52015 Q1 · Overall: +2.42015 Q2 · Overall: +7.52015 Q3 · Overall: +7.62015 Q4 · Overall: +3.92016 Q1 · Overall: +10.52016 Q2 · Overall: +11.82016 Q3 · Overall: +8.12016 Q4 · Overall: +10.72017 Q1 · Overall: +10.02017 Q2 · Overall: +13.12017 Q3 · Overall: +10.02017 Q4 · Overall: +11.72018 Q1 · Overall: +5.92018 Q2 · Overall: +14.82018 Q3 · Overall: +11.82018 Q4 · Overall: +12.92019 Q1 · Overall: +13.12019 Q2 · Overall: +9.72019 Q3 · Overall: +7.92019 Q4 · Overall: +10.22020 Q1 · Overall: +0.12020 Q2 · Overall: +8.62020 Q3 · Overall: +5.82020 Q4 · Overall: +9.72021 Q1 · Overall: +13.42021 Q2 · Overall: +12.02021 Q3 · Overall: +5.42021 Q4 · Overall: +8.92022 Q1 · Overall: +9.62022 Q2 · Overall: +6.42022 Q3 · Overall: +6.52022 Q4 · Overall: +9.82023 Q1 · Overall: +9.52023 Q2 · Overall: +10.12023 Q3 · Overall: +10.72023 Q4 · Overall: +16.12024 Q1 · Overall: +12.62024 Q2 · Overall: +9.12024 Q3 · Overall: +12.22024 Q4 · Overall: +12.82025 Q1 · Overall: +11.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-38-19+0+19+382007 Q22009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q2 · CEO: +8.12007 Q4 · CEO: +5.82008 Q1 · CEO: +4.92008 Q2 · CEO: +13.72008 Q3 · CEO: +9.52008 Q4 · CEO: +1.22009 Q1 · CEO: +0.42009 Q2 · CEO: +2.72009 Q3 · CEO: +8.82009 Q4 · CEO: +2.02010 Q2 · CEO: +10.22010 Q3 · CEO: +4.12010 Q4 · CEO: +3.02011 Q1 · CEO: +10.02011 Q2 · CEO: +12.92011 Q3 · CEO: +11.32011 Q4 · CEO: +16.82012 Q1 · CEO: +12.02012 Q2 · CEO: +2.52012 Q3 · CEO: +11.12012 Q4 · CEO: +12.32013 Q1 · CEO: +11.62013 Q2 · CEO: +5.62013 Q3 · CEO: +7.02013 Q4 · CEO: +3.02014 Q1 · CEO: +11.72014 Q2 · CEO: +5.02014 Q3 · CEO: +11.22015 Q1 · CEO: +14.72015 Q2 · CEO: +11.92015 Q3 · CEO: +9.52016 Q3 · CEO: +16.42018 Q1 · CEO: +4.32018 Q4 · CEO: +18.12019 Q1 · CEO: +16.62019 Q2 · CEO: +13.22019 Q3 · CEO: +10.12019 Q4 · CEO: +8.32020 Q1 · CEO: +1.92020 Q2 · CEO: +8.22020 Q3 · CEO: +7.32020 Q4 · CEO: +9.72021 Q1 · CEO: +13.42021 Q2 · CEO: +16.42021 Q3 · CEO: +5.22021 Q4 · CEO: +10.02022 Q1 · CEO: +13.62022 Q2 · CEO: +8.52022 Q3 · CEO: +8.92022 Q4 · CEO: +10.22023 Q1 · CEO: +12.42023 Q2 · CEO: +13.22023 Q3 · CEO: +9.42023 Q4 · CEO: +13.02024 Q1 · CEO: +16.92024 Q2 · CEO: +12.02024 Q3 · CEO: +10.82024 Q4 · CEO: +18.72025 Q1 · CEO: +13.02007 Q2 · CFO: +4.42007 Q4 · CFO: -12.92008 Q1 · CFO: +32.72008 Q2 · CFO: +6.12008 Q3 · CFO: +0.02008 Q4 · CFO: +5.32009 Q1 · CFO: -6.62009 Q2 · CFO: +0.02009 Q3 · CFO: +2.42009 Q4 · CFO: +1.92010 Q2 · CFO: +1.52010 Q3 · CFO: +3.32010 Q4 · CFO: +11.92011 Q1 · CFO: +8.52011 Q2 · CFO: +6.42012 Q4 · CFO: +6.72013 Q1 · CFO: +6.62013 Q2 · CFO: +1.22013 Q3 · CFO: +7.72013 Q4 · CFO: +4.22014 Q1 · CFO: +10.62014 Q2 · CFO: +11.62014 Q3 · CFO: +10.92015 Q1 · CFO: -16.52015 Q2 · CFO: +5.12015 Q3 · CFO: +6.62016 Q3 · CFO: +15.02016 Q4 · CFO: +8.62017 Q1 · CFO: +5.92017 Q2 · CFO: +19.02017 Q3 · CFO: +13.02017 Q4 · CFO: +11.92018 Q1 · CFO: +7.72018 Q2 · CFO: +17.62018 Q3 · CFO: +13.72018 Q4 · CFO: +17.92019 Q1 · CFO: +20.02019 Q2 · CFO: +6.22019 Q3 · CFO: +6.72019 Q4 · CFO: +10.22020 Q1 · CFO: +0.02020 Q2 · CFO: +13.42020 Q3 · CFO: +7.92020 Q4 · CFO: +13.12021 Q1 · CFO: +23.22021 Q2 · CFO: +15.52021 Q3 · CFO: +9.62021 Q4 · CFO: +13.62022 Q1 · CFO: +4.72022 Q2 · CFO: +16.62022 Q3 · CFO: +15.02022 Q4 · CFO: +18.52023 Q1 · CFO: +11.82023 Q2 · CFO: +14.32023 Q3 · CFO: +18.82023 Q4 · CFO: +23.62024 Q1 · CFO: +21.32024 Q2 · CFO: +5.52024 Q3 · CFO: +13.82024 Q4 · CFO: +16.82025 Q1 · CFO: +14.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-37-19+0+19+372007 Q22009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q2 · Prepared remarks: +12.62007 Q4 · Prepared remarks: +13.42008 Q1 · Prepared remarks: +6.72008 Q2 · Prepared remarks: +14.22008 Q3 · Prepared remarks: +8.02008 Q4 · Prepared remarks: +3.72009 Q1 · Prepared remarks: +2.12009 Q2 · Prepared remarks: +4.22009 Q3 · Prepared remarks: +5.32009 Q4 · Prepared remarks: +5.12010 Q2 · Prepared remarks: +6.92010 Q3 · Prepared remarks: +5.82010 Q4 · Prepared remarks: +7.92011 Q1 · Prepared remarks: +11.42011 Q2 · Prepared remarks: +12.12011 Q3 · Prepared remarks: +9.62011 Q4 · Prepared remarks: +14.82012 Q1 · Prepared remarks: +13.82012 Q2 · Prepared remarks: +7.52012 Q3 · Prepared remarks: +12.52012 Q4 · Prepared remarks: +11.82013 Q1 · Prepared remarks: +12.22013 Q2 · Prepared remarks: +6.22013 Q3 · Prepared remarks: +11.62013 Q4 · Prepared remarks: +9.32014 Q1 · Prepared remarks: +22.52014 Q2 · Prepared remarks: +9.42014 Q3 · Prepared remarks: +9.52014 Q4 · Prepared remarks: +7.12015 Q1 · Prepared remarks: +23.12015 Q2 · Prepared remarks: +20.42015 Q3 · Prepared remarks: +29.92015 Q4 · Prepared remarks: +10.62016 Q1 · Prepared remarks: +24.12016 Q2 · Prepared remarks: +20.92016 Q3 · Prepared remarks: +25.22016 Q4 · Prepared remarks: +25.02017 Q1 · Prepared remarks: +20.92017 Q2 · Prepared remarks: +20.12017 Q3 · Prepared remarks: +18.92017 Q4 · Prepared remarks: +19.22018 Q1 · Prepared remarks: +10.42018 Q2 · Prepared remarks: +25.52018 Q3 · Prepared remarks: +24.42018 Q4 · Prepared remarks: +23.72019 Q1 · Prepared remarks: +24.12019 Q2 · Prepared remarks: +27.72019 Q3 · Prepared remarks: +15.72019 Q4 · Prepared remarks: +21.22020 Q1 · Prepared remarks: +4.12020 Q2 · Prepared remarks: +16.52020 Q3 · Prepared remarks: +22.22020 Q4 · Prepared remarks: +22.72021 Q1 · Prepared remarks: +30.62021 Q2 · Prepared remarks: +22.92021 Q3 · Prepared remarks: +13.12021 Q4 · Prepared remarks: +24.02022 Q1 · Prepared remarks: +22.22022 Q2 · Prepared remarks: +18.72022 Q3 · Prepared remarks: +16.52022 Q4 · Prepared remarks: +24.82023 Q1 · Prepared remarks: +18.22023 Q2 · Prepared remarks: +21.02023 Q3 · Prepared remarks: +24.72023 Q4 · Prepared remarks: +32.12024 Q1 · Prepared remarks: +32.52024 Q2 · Prepared remarks: +26.02024 Q3 · Prepared remarks: +20.22024 Q4 · Prepared remarks: +29.92025 Q1 · Prepared remarks: +30.12007 Q2 · Q&A responses: +12.22007 Q4 · Q&A responses: -2.42008 Q1 · Q&A responses: +6.12008 Q2 · Q&A responses: +9.12008 Q3 · Q&A responses: +4.82008 Q4 · Q&A responses: +4.52009 Q1 · Q&A responses: +0.92009 Q2 · Q&A responses: +3.62009 Q3 · Q&A responses: +8.82009 Q4 · Q&A responses: +0.32010 Q2 · Q&A responses: +8.22010 Q3 · Q&A responses: +3.02010 Q4 · Q&A responses: +3.42011 Q1 · Q&A responses: +8.72011 Q2 · Q&A responses: +11.82011 Q3 · Q&A responses: +11.12011 Q4 · Q&A responses: +11.82012 Q1 · Q&A responses: +9.22012 Q2 · Q&A responses: +1.72012 Q3 · Q&A responses: +3.92012 Q4 · Q&A responses: +9.02013 Q1 · Q&A responses: +8.92013 Q2 · Q&A responses: +3.22013 Q3 · Q&A responses: +4.32013 Q4 · Q&A responses: -0.82014 Q1 · Q&A responses: +7.72014 Q2 · Q&A responses: +1.62014 Q3 · Q&A responses: +9.82014 Q4 · Q&A responses: +11.32015 Q1 · Q&A responses: +3.12015 Q2 · Q&A responses: +9.62015 Q3 · Q&A responses: +8.12015 Q4 · Q&A responses: +3.82016 Q1 · Q&A responses: +7.72016 Q2 · Q&A responses: +10.52016 Q3 · Q&A responses: +4.72016 Q4 · Q&A responses: +5.72017 Q1 · Q&A responses: +7.62017 Q2 · Q&A responses: +13.52017 Q3 · Q&A responses: +8.52017 Q4 · Q&A responses: +10.32018 Q1 · Q&A responses: +6.32018 Q2 · Q&A responses: +13.12018 Q3 · Q&A responses: +8.82018 Q4 · Q&A responses: +11.22019 Q1 · Q&A responses: +12.72019 Q2 · Q&A responses: +5.22019 Q3 · Q&A responses: +7.22019 Q4 · Q&A responses: +8.22020 Q1 · Q&A responses: +2.02020 Q2 · Q&A responses: +6.52020 Q3 · Q&A responses: +1.32020 Q4 · Q&A responses: +7.72021 Q1 · Q&A responses: +10.92021 Q2 · Q&A responses: +10.92021 Q3 · Q&A responses: +6.02021 Q4 · Q&A responses: +7.62022 Q1 · Q&A responses: +7.82022 Q2 · Q&A responses: +7.82022 Q3 · Q&A responses: +6.72022 Q4 · Q&A responses: +10.82023 Q1 · Q&A responses: +10.72023 Q2 · Q&A responses: +10.92023 Q3 · Q&A responses: +9.72023 Q4 · Q&A responses: +15.82024 Q1 · Q&A responses: +15.72024 Q2 · Q&A responses: +6.52024 Q3 · Q&A responses: +11.22024 Q4 · Q&A responses: +11.02025 Q1 · Q&A responses: +8.9
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.92$5.23$8.542007 Q22009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: $2.382014 Q2: $2.462014 Q3: $2.502014 Q4: $2.532015 Q1: $2.562015 Q2: $2.592015 Q3: $2.692015 Q4: $2.762016 Q1: $2.832016 Q2: $2.942016 Q3: $3.042016 Q4: $3.162017 Q1: $3.242017 Q2: $3.322017 Q3: $3.432017 Q4: $3.482018 Q1: $4.122018 Q2: $4.202018 Q3: $4.332018 Q4: $4.432019 Q1: $4.482019 Q2: $4.512019 Q3: $4.582019 Q4: $4.632020 Q1: $4.662020 Q2: $3.962020 Q3: $4.252020 Q4: $4.622021 Q1: $4.842021 Q2: $5.162021 Q3: $5.452021 Q4: $5.532022 Q1: $5.542022 Q2: $5.912022 Q3: $6.212022 Q4: $6.142023 Q1: $6.182023 Q2: $6.412023 Q3: $6.472023 Q4: $6.732024 Q1: $7.092024 Q2: $7.672024 Q3: $7.832024 Q4: $8.08

Forward P/E

16.3323.5430.742007 Q22009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: 17.322014 Q2: 18.012014 Q3: 18.932014 Q4: 19.582015 Q1: 21.552015 Q2: 18.492015 Q3: 18.652015 Q4: 19.542016 Q1: 20.812016 Q2: 21.402016 Q3: 20.572016 Q4: 22.162017 Q1: 22.752017 Q2: 22.112017 Q3: 22.692017 Q4: 24.522018 Q1: 20.952018 Q2: 19.812018 Q3: 21.052018 Q4: 19.852019 Q1: 22.582019 Q2: 25.372019 Q3: 24.952019 Q4: 24.322020 Q1: 21.992020 Q2: 26.732020 Q3: 27.532020 Q4: 25.132021 Q1: 24.562021 Q2: 27.122021 Q3: 28.572021 Q4: 29.392022 Q1: 27.862022 Q2: 24.622022 Q3: 27.682022 Q4: 27.122023 Q1: 25.102023 Q2: 25.362023 Q3: 24.782023 Q4: 26.612024 Q1: 29.752024 Q2: 27.092024 Q3: 25.802024 Q4: 25.42

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q2 tone ↓ -7.7 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↓ -3.8 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -3.8 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -3.1 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -5.8 fwd EPS ↑ +0.65 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -3.0 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +8.5 fwd EPS ↓ -0.71 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↓ -2.8 fwd EPS ↑ +0.29 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -6.6 fwd EPS ↑ +0.29 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -3.2 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +3.2 fwd EPS ↓ -0.07 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -3.5 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -3.6 fwd EPS ↑ +0.58 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-29+11.6——View →
2024 Q42025-01-30+12.8$8.0825.4View →
2024 Q32024-10-29+12.2$7.8325.8View →
2024 Q22024-07-25+9.1$7.6727.1View →
2024 Q12024-04-25+12.6$7.0929.8View →
2023 Q42024-02-13+16.1$6.7326.6View →
2023 Q32023-10-25+10.7$6.4724.8View →
2023 Q22023-07-26+10.1$6.4125.4View →