GREENWICH, Conn., March 26, 2026 (GLOBE NEWSWIRE) -- Gabelli Funds will host its 12th Annual Waste & Environmental Services Symposium in Midtown Manhattan, New York City on Thursday, April 9th, 2026. The symposium will feature discussions with leading companies and organizations across the waste and environmental services ecosystems, with an emphasis on industry dynamics, current trends, and business fundamentals, as well as waste and sustainability investing and other relevant panels. Attendees may also ha ...

Waste Connections Inc. (NYSE:WCN) ranks among the most profitable Canadian Stocks to buy now. On March 13, Wolfe Research began coverage of Waste Connections Inc. (NYSE:WCN) with an Outperform rating and a price target of $199. The firm expects Waste Connections to uphold its margin premium and deliver significant operating margin expansion in the future. This year, the basic solid waste operating margin expansion is on track to reach 100 basis points. Pixabay/Public Domain Meanwhile, on March 11, Berns ...

Waste Connections Appoints Daniel L. Florness to its Board of Directors Mar 18, 2026 4:05 PM Eastern Daylight Time Waste Connections Appoints Daniel L. Florness to its Board of Directors Share TORONTO--(BUSINESS WIRE)--Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections†or the "Company†) today announced that Daniel L. Florness has been appointed to its Board of Directors, effective April 1, 2026. "We are very pleased to welcome Dan to our Board,†said Ronald J. Mittelstaedt, President and Chief E ...

Core Viewpoint - Waste Connections, Inc. has announced the pricing of a public offering of $600 million in senior notes, indicating a strategic move to raise capital through debt issuance [1] Group 1: Offering Details - The company priced an underwritten public offering of $600 million aggregate principal amount of its 4.800% Senior Notes due 2036 [1] - The notes are being offered at a price to the public of 99.732% of their face value [1] - The expected closing date for the offering is March 16, 2026, subject to customary closing conditions [1]

Core Insights - Waste Connections, Inc. (WCN) reported fourth-quarter 2025 earnings that slightly exceeded the Zacks Consensus Estimate, with an 11.2% year-over-year increase in earnings and a 5% year-over-year growth in revenues [1][9] - Despite the earnings beat, the stock price fell by 6.6% following the results announcement on February 11, reflecting investor disappointment [1] - Over the past year, WCN shares have decreased by 14%, contrasting with a 3.5% decline in the industry and a 15.3% increase in the Zacks S&P 500 Composite [1] Segment Performance - The Solid Waste Collection segment generated $1.7 billion in revenues, marking a 5.8% year-over-year increase [2] - Revenues from the Solid Waste Disposal and Transfer segment rose by 5.4% year-over-year to $757.1 million, driven by solid core pricing [2] - The Solid Waste Recycling segment experienced a 14.3% decline in revenues, totaling $51.2 million [3] - The E&P Waste Treatment, Recovery and Disposal segment reported revenues of $171.1 million, reflecting a 16.9% year-over-year increase [3] - The Intermodal and Other segment saw revenues of $42.3 million, down 7.9% from the previous year [3] Operating Results - Adjusted EBITDA for the quarter was $731.9 million, an 8% decrease from the prior year, with an adjusted EBITDA margin of 32.4%, down 110 basis points year-over-year [4] - The company recorded an operating loss of $199.1 million, compared to an operating income of $420.8 million in the same quarter last year [4] Balance Sheet & Cash Flow - At the end of the fourth quarter of 2025, Waste Connections had cash and cash equivalents of $46 million, down from $117.6 million in the previous quarter [5] - The long-term debt and notes payable increased to $8.8 billion from $8 billion in the third quarter of 2025 [5] - The company generated $556.9 million in cash from operating activities, with adjusted free cash flow of $175.6 million and capital expenditures totaling $261.1 million [6] - During the quarter, Waste Connections paid out $89.9 million in dividends [6] FY26 Outlook - For the fiscal year 2026, Waste Connections anticipates revenues between $9.9 billion and $9.95 billion, with the Zacks Consensus Estimate at $9.95 billion [7] - Adjusted EBITDA is expected to be in the range of $3.3 billion to $3.325 billion [7] - Waste Connections currently holds a Zacks Rank of 4 (Sell) [7]

Core Insights - Waste Connections has received multiple upgrades to a "strong-buy" rating from various research firms, indicating strong market confidence in the company's stock performance [1][6]. Financial Performance - Waste Connections reported earnings per share (EPS) of C$1.77 for the last quarter, with a net margin of 10.81% and a return on equity of 11.86% [3]. - The company generated revenue of C$3.26 billion during the same quarter, and analysts expect an average EPS of approximately 9.98 for the current year [3]. Stock Performance - Waste Connections' stock opened at C$218.26, with a 12-month low of C$211.93 and a high of C$284.73. The market capitalization stands at C$55.79 billion [2]. - The stock has a P/E ratio of 52.34 and a P/E/G ratio of 2.22, with a beta of 0.33, indicating lower volatility compared to the market [2]. Company Overview - Waste Connections is the third-largest integrated provider of solid waste and recycling services in North America, operating 91 active landfills, 132 transfer stations, and 68 recycling operations [4]. - The company serves various markets, including residential, commercial, industrial, and energy sectors, and has a significant presence in Canada, contributing 13% of consolidated revenue in 2020 [4].

Group 1 - TD Cowen lowered the price target on Waste Connections (WCN) to $200 from $210 while maintaining a Buy rating on the shares [1] - The firm noted that a fairly solid operational Q4 was offset by underwhelming 2026 guidance [1] - An 8% selloff in the stock price was deemed excessive by the firm [1]

Core Insights - Waste Connections has demonstrated strong execution and operational discipline, reinforcing its successful track record in mergers and acquisitions [1] Group 1: Company Performance - The company has faced modest volume pressures but continues to deliver strong results [1] Group 2: Investment Philosophy - The investment philosophy emphasizes acquiring high-quality stocks and businesses led by disciplined capital allocators that generate exceptional returns on capital and can compound invested capital over long periods [1]

Core Insights - The company's performance in 2025 was driven by price-led organic growth, solid waste improvements, and operational efficiencies, resulting in a 7.7% increase in adjusted EBITDA to $3.125 billion [3][7][11] - The 2026 outlook anticipates revenue between $9.9 billion and $9.95 billion, with adjusted EBITDA projected at $3.30 billion to $3.325 billion, assuming no macroeconomic improvements [5][17] - The company reported a decline in recycled commodity values and renewable energy credits, impacting reported results despite margin expansion [1][4] Financial Performance - Q4 revenue reached $2.373 billion, with adjusted EBITDA rising to $796 million, reflecting a margin increase of 110 basis points [6][10] - For the full year, adjusted EBITDA margin was 33%, up 50 basis points from the previous year [11] - Adjusted free cash flow for 2025 was reported at $1.26 billion, with capital expenditures totaling $1.194 billion [15] Operational Improvements - The company achieved a 6.5% increase in solid waste core pricing, contributing to a 100 basis point margin expansion in solid waste [1] - Employee turnover and safety incident rates declined for three consecutive years, indicating improved workforce stability and safety [3][7] - Management noted reductions in operating costs, particularly in labor and risk management, which supported pricing retention [2] 2026 Guidance and Capital Plans - The guidance for 2026 includes an adjusted free cash flow target of $1.4 billion to $1.45 billion, with capital expenditures around $1.25 billion [5][17] - The company plans to continue its acquisition strategy, having closed 19 acquisitions in 2025 totaling approximately $330 million in annualized revenue [19] - Management emphasized that the 2026 outlook does not account for potential improvements in commodity values or cyclical volume recovery [18] Sustainability and Technology Initiatives - The company has five renewable natural gas (RNG) facilities operational, with expectations for improved contributions in 2027 as projects ramp up [21] - Initiatives aimed at digitizing operations and enhancing customer experience are underway, including real-time routing and improved mobile connectivity [22] - Progress on the Chiquita Canyon landfill management continues, with regulatory challenges impacting costs and timelines [12][13]

Financial Data and Key Metrics Changes - Adjusted EBITDA margin expanded by 110 basis points in Q4 2025, reaching an industry-leading 33%, up 100 basis points year-over-year, excluding lower commodities [3][19] - Full year 2025 adjusted EBITDA was $3.125 billion, up 7.7% year-over-year, with an adjusted EBITDA margin of 33% [20] - Revenue for Q4 was $2.373 billion, with acquisitions contributing approximately $58 million [17] Business Line Data and Key Metrics Changes - Solid waste core pricing increased by 6.5% in 2025, exceeding expectations and contributing to margin expansion [9] - Reported volume decreased by 2.7%, reflecting intentional shedding and ongoing weakness in cyclically driven elements [17] - Special waste tons increased by 7% for the full year 2025, while construction and demolition debris (C&D) tons decreased by 5% [18] Market Data and Key Metrics Changes - Pricing in competitive markets exceeded 7%, while the Western region saw pricing around 3.7% [17] - The company experienced a decline in recycled commodity values, impacting reported margins [10] Company Strategy and Development Direction - The company plans to focus on solid waste and continue disciplined acquisition strategies, with $330 million in annualized revenue from 19 acquisitions in 2025 [12] - Investments in sustainability and AI technology are prioritized to enhance efficiency and customer service [14][15] - The company aims to maintain a strong balance sheet with a leverage ratio of 2.75x debt to EBITDA, allowing for continued investment in growth and shareholder returns [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for margin expansion and free cash flow growth in 2026, despite not factoring in significant economic improvements [27] - The company is encouraged by macro indicators suggesting improving dynamics in the broader economy, but remains conservative in its outlook [36] - Management highlighted ongoing improvements in employee retention and safety, contributing to cost savings and productivity gains [8] Other Important Information - The company is developing renewable gas facilities, with five already operational and more expected by year-end [15] - Adjusted free cash flow for 2025 was $1.26 billion, reflecting a conversion of approximately 50% of adjusted EBITDA [21] Q&A Session Summary Question: Can you elaborate on sustainability CapEx and Chiquita Canyon spend? - Management expects sustainability-related outlays to step down in 2026-2027, with $100 million allocated for RNG facilities and additional investments in recycling technology [31] Question: What are the macroeconomic assumptions baked into guidance? - Management has not factored in improvements in commodity values or significant economic recovery, but sees potential upside from special waste and commercial servicing increases [35][36] Question: Can you provide an update on the Northeast Corridor build-out? - The company has increased daily shipments to the Arrowhead Landfill and is on track to reach 9,000-9,500 tons per day by 2026 [72] Question: How is the ramp-up of new landfill gas facilities progressing? - Management noted that initial ramp-up is slower than expected, with efficiency rates improving over time, but profitability remains attractive [76][80] Question: What is the current status of leachate production at Chiquita Canyon? - Leachate production has decreased from a peak of 400,000 gallons per day to approximately 200,000-225,000 gallons per day [85]