ISS A/S vs Waste Management: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

ISS A/S (0QRS.LSE)

Q3 202613 Jul – 11 Aug 2026

▲3▼1

ISS lifts buyback and H1 outlook, offsetting one lost contract

Buyback grows to DKK 3.1bn ISS finished the first DKK 1.25bn buyback tranche and started a second DKK 1.85bn tranche, lifting the total programme by DKK 600m. Buying its own shares shrinks the number of shares in issue, which tends to lift the value of those that remain.
The enlarged buyback is the clearest new force pushing the shares up this period.
H1 results beat and outlook kept upgraded First-half organic growth was 8.2% and operating margin improved to 4.6%, with free cash flow turning positive at DKK 0.6bn. Management kept its raised full-year guidance, which gives investors more confidence in future profits and supports the share price.
Better results and a maintained upgraded outlook are the fundamental driver behind the stock.
Deutsche Telekom deal extended to 2035 ISS settled with Deutsche Telekom and extended their partnership to the end of 2035, adding a one-off revenue adjustment and a small yearly contract improvement. A long contract extension makes future revenue more predictable, which investors value.
A major long-term contract extension is new and reduces uncertainty about future revenue.
One customer drops a DKK 100m contract A customer will stop using an outside facility services provider, ending a contract worth about DKK 100m a year in the fourth quarter of 2026. That removes some future revenue, though it is small next to group revenue of DKK 84.7bn and is partly offset by a new expanded energy-sector deal.
This is the main counterweight to the positive news and keeps the picture fair.

July 202613 Jul – 11 Aug 2026

▲3▼1

ISS lifts buyback and H1 outlook, offsetting one lost contract

Buyback grows to DKK 3.1bn ISS finished the first DKK 1.25bn buyback tranche and started a second DKK 1.85bn tranche, lifting the total programme by DKK 600m. Buying its own shares shrinks the number of shares in issue, which tends to lift the value of those that remain.
The enlarged buyback is the clearest new force pushing the shares up this period.
H1 results beat and outlook kept upgraded First-half organic growth was 8.2% and operating margin improved to 4.6%, with free cash flow turning positive at DKK 0.6bn. Management kept its raised full-year guidance, which gives investors more confidence in future profits and supports the share price.
Better results and a maintained upgraded outlook are the fundamental driver behind the stock.
Deutsche Telekom deal extended to 2035 ISS settled with Deutsche Telekom and extended their partnership to the end of 2035, adding a one-off revenue adjustment and a small yearly contract improvement. A long contract extension makes future revenue more predictable, which investors value.
A major long-term contract extension is new and reduces uncertainty about future revenue.
One customer drops a DKK 100m contract A customer will stop using an outside facility services provider, ending a contract worth about DKK 100m a year in the fourth quarter of 2026. That removes some future revenue, though it is small next to group revenue of DKK 84.7bn and is partly offset by a new expanded energy-sector deal.
This is the main counterweight to the positive news and keeps the picture fair.

Latest13 Jul – 11 Aug 2026

▲3▼1

ISS lifts buyback and H1 outlook, offsetting one lost contract

Buyback grows to DKK 3.1bn ISS finished the first DKK 1.25bn buyback tranche and started a second DKK 1.85bn tranche, lifting the total programme by DKK 600m. Buying its own shares shrinks the number of shares in issue, which tends to lift the value of those that remain.
The enlarged buyback is the clearest new force pushing the shares up this period.
H1 results beat and outlook kept upgraded First-half organic growth was 8.2% and operating margin improved to 4.6%, with free cash flow turning positive at DKK 0.6bn. Management kept its raised full-year guidance, which gives investors more confidence in future profits and supports the share price.
Better results and a maintained upgraded outlook are the fundamental driver behind the stock.
Deutsche Telekom deal extended to 2035 ISS settled with Deutsche Telekom and extended their partnership to the end of 2035, adding a one-off revenue adjustment and a small yearly contract improvement. A long contract extension makes future revenue more predictable, which investors value.
A major long-term contract extension is new and reduces uncertainty about future revenue.
One customer drops a DKK 100m contract A customer will stop using an outside facility services provider, ending a contract worth about DKK 100m a year in the fourth quarter of 2026. That removes some future revenue, though it is small next to group revenue of DKK 84.7bn and is partly offset by a new expanded energy-sector deal.
This is the main counterweight to the positive news and keeps the picture fair.

Waste Management Inc (WM)

Q3 202614 Jul – 1 Oct 2026

▲2▼2

WM's steady waste demand and green growth offset debt and labor risks

Q2 earnings beat and guidance raise WM reported second-quarter revenue up 4% to $6.68 billion and adjusted profit of $2.02 per share, beating expectations. It raised full-year revenue guidance and returned over $1 billion to shareholders. This shows the core business is strong and supports a higher stock price.
This is the period's biggest positive event, directly lifting investor confidence in WM's earnings power.
Steady waste demand and pricing power Demand for waste collection and disposal remains reliable, and WM raised core prices 5.7%. Its recycling and renewable energy businesses grew adjusted EBITDA 32.5% year over year. This steady, recurring revenue makes earnings more predictable and supports the stock.
It explains the fundamental demand and pricing strength that underpins WM's valuation.
High debt limits financial flexibility WM carries $23.36 billion in total debt against only $557 million in cash, and its current ratio of 0.91 is below the industry average. This limits how much the company can invest or return to shareholders, and could weigh on the stock if rates rise or profits slow.
It is the main counterweight to the positive earnings story and a real risk to WM's price.
Southern California labor contract expires Contracts for nearly 4,000 sanitation workers, including some at WM, expired without a deal. The union warns of possible strikes across Southern California. A labor disruption could raise costs and interrupt service, which would hurt WM's stock.
It is a new, unresolved risk that could disrupt operations and investor sentiment.

August 202614 Jul – 1 Oct 2026

▲2▼2

WM's steady waste demand and green growth offset debt and labor risks

Q2 earnings beat and guidance raise WM reported second-quarter revenue up 4% to $6.68 billion and adjusted profit of $2.02 per share, beating expectations. It raised full-year revenue guidance and returned over $1 billion to shareholders. This shows the core business is strong and supports a higher stock price.
This is the period's biggest positive event, directly lifting investor confidence in WM's earnings power.
Steady waste demand and pricing power Demand for waste collection and disposal remains reliable, and WM raised core prices 5.7%. Its recycling and renewable energy businesses grew adjusted EBITDA 32.5% year over year. This steady, recurring revenue makes earnings more predictable and supports the stock.
It explains the fundamental demand and pricing strength that underpins WM's valuation.
High debt limits financial flexibility WM carries $23.36 billion in total debt against only $557 million in cash, and its current ratio of 0.91 is below the industry average. This limits how much the company can invest or return to shareholders, and could weigh on the stock if rates rise or profits slow.
It is the main counterweight to the positive earnings story and a real risk to WM's price.
Southern California labor contract expires Contracts for nearly 4,000 sanitation workers, including some at WM, expired without a deal. The union warns of possible strikes across Southern California. A labor disruption could raise costs and interrupt service, which would hurt WM's stock.
It is a new, unresolved risk that could disrupt operations and investor sentiment.

Latest14 Jul – 1 Oct 2026

▲2▼2

WM's steady waste demand and green growth offset debt and labor risks

Q2 earnings beat and guidance raise WM reported second-quarter revenue up 4% to $6.68 billion and adjusted profit of $2.02 per share, beating expectations. It raised full-year revenue guidance and returned over $1 billion to shareholders. This shows the core business is strong and supports a higher stock price.
This is the period's biggest positive event, directly lifting investor confidence in WM's earnings power.
Steady waste demand and pricing power Demand for waste collection and disposal remains reliable, and WM raised core prices 5.7%. Its recycling and renewable energy businesses grew adjusted EBITDA 32.5% year over year. This steady, recurring revenue makes earnings more predictable and supports the stock.
It explains the fundamental demand and pricing strength that underpins WM's valuation.
High debt limits financial flexibility WM carries $23.36 billion in total debt against only $557 million in cash, and its current ratio of 0.91 is below the industry average. This limits how much the company can invest or return to shareholders, and could weigh on the stock if rates rise or profits slow.
It is the main counterweight to the positive earnings story and a real risk to WM's price.
Southern California labor contract expires Contracts for nearly 4,000 sanitation workers, including some at WM, expired without a deal. The union warns of possible strikes across Southern California. A labor disruption could raise costs and interrupt service, which would hurt WM's stock.
It is a new, unresolved risk that could disrupt operations and investor sentiment.