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William with Barclays

Managing Director and Senior Research Analyst at Barclays

William McFeely is a Managing Director and Senior Research Analyst at Barclays, specializing in airlines and transportation sector research. He covers major companies including Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, and Alaska Air Group, with a strong performance track record ranked in the top 10% of analysts on TipRanks, boasting a 68% success rate and average return of 18.5% per rating. McFeely started his Wall Street career in 2003 at Calyon, advanced through roles at UBS and CRT Capital, joined Barclays in 2012, and holds Series 7, 63, and 86/87 FINRA licenses along with a CFA designation.

William with Barclays's questions to WASTE MANAGEMENT (WM) leadership

Question · Q4 2025

William with Barclays asked about WM's sustainability business, specifically if the implied $700 million growth EBITDA in 2027, when adjusted for lower recycled commodity prices, suggests the business is performing ahead of initial expectations. He also requested a breakdown of the $235-$255 million sustainability growth EBITDA contribution for the 2026 guide between Recycling and Renewable Natural Gas (RNG).

Answer

Executive Advisor Devina Rankin confirmed WM is "really pleased" with the Recycling business's performance, noting that automation investments are delivering higher throughput, better commodity price points, and over 30% labor savings, exceeding expectations. Devina Rankin also clarified that the 2026 sustainability growth EBITDA contribution is approximately 60% from renewable energy and 40% from Recycling, including royalties.

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