Recyclable Material Wholesalers NAICS 423930

Mar 10, 2026 - Major Waste Firms Post Solid Quarterly and Annual Gains

• Republic Services, WM, and Waste Connections all closed the year with solid momentum, each posting year-over-year revenue and net income gains. Republic saw Q4 net income rise 6.4% to $545 million and full-year net income increase 4.9% to $2.1 billion, with steady revenue growth driven by pricing and cost discipline. WM also delivered a strong finish, with Q4 revenue up 7.1% to $6.3 billion and net income jumping 24% to $742 million, while full-year revenue climbed 14.2% to $25.2 billion. Waste Connections saw Q4 revenue rise 4.8% to $2.4 billion and the firm swung from a loss of $196 million in the fourth quarter of 2024 to $258.5 million in net income in Q4 2025, while full-year revenue rose 6.1% and net income surged 74.4% to more than $1 billion. All three expect continued growth in 2026 as margins, pricing, and operating performance strengthen.
• Waste industry insiders suggest the EPA’s move to roll back the endangerment finding will not directly change core emissions rules for the waste and recycling industry but will create other challenges, according to Waste Dive. EPA administrator Lee Zeldin framed the rollback as a major deregulatory step, while environmental groups warned it would raise long-term climate and public health risks. Waste industry organizations noted that a warming climate could worsen worker safety challenges and increase severe-weather impacts. Landfill air emissions rules remain unchanged because they are based on non-methane organic compounds rather than greenhouse gases. The decision adds uncertainty as the administration also seeks to dismantle the Greenhouse Gas Reporting Program, potentially forcing landfill operators to navigate a patchwork of state rules. Environmental groups plan to challenge the rollback of the endangerment finding in court.

• The Carton Council reports that carton recycling access continued to expand in 2025, as nearly 2.5 million additional U.S. households gained service, bringing nationwide access to 63%, according to Resource Recycling. The group said cartons are accepted in 86% of recycling programs that serve the roughly 73% of households with recycling access, reflecting steady growth from just 18% coverage in 2009. The council credited state and local program updates for the latest gains, including major expansions in Oregon; Austin, Texas; Marion County, Florida; Robeson County, North Carolina; Cedar Falls, Iowa; and Titusville, Florida. Leaders said progress now happens community by community as they work with local governments and MRFs to update material lists, improve sortation, and strengthen end markets.
• The US recycling industry enters 2026 facing many of the same pressures that defined 2025, including tariff uncertainty, softer consumer spending, and volatile commodity prices, according to Waste Dive. Analysts are split on whether recycled commodity prices will slip further or remain flat, as manufacturing activity continues to lag and recycled polyethylene terephthalate (rPET) related tariffs add strain. Major waste companies such as WM and Republic Services expect long term investments in automation, material recovery facility (MRF) upgrades, and polymer centers to strengthen pricing and volume, though recent facility closures have disrupted supply chains for some plastics. Extended producer responsibility (ERP) laws for packaging, batteries, paint, and textiles are poised to play a larger role this year, with new programs rolling out in Oregon and Colorado, and additional legislation advancing in multiple states. These EPR initiatives could provide new revenue streams and infrastructure support as the industry navigates ongoing economic headwinds.