Waste Connections (WCN) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 2 ...

Core Viewpoint - Waste Connections (WCN) has shown strong performance over the past year and is expected to maintain this momentum, making it a compelling addition to investment portfolios [1]. Performance Overview - WCN's stock has increased by 27.3% over the past year, outperforming the industry average of 23.3% and the Zacks S&P 500 composite's rise of 25.5% [2]. Investment Ratings - WCN holds a Zacks Rank of 2 (Buy) and a VGM Score of B, indicating strong investment potential. Stocks with a VGM Score of A or B combined with a Zacks Rank of 1 or 2 are considered the best investment opportunities [3]. Earnings Estimates - In the past 60 days, one estimate for WCN's 2024 earnings has been revised upward, reflecting analysts' confidence. The Zacks Consensus Estimate for 2024 earnings has seen a slight increase [4]. Earnings Surprise History - WCN has a positive earnings surprise history, having exceeded the Zacks Consensus Estimate in the last four quarters with an average earnings surprise of 2.1% [4]. Growth Projections - Revenue growth is projected at 9.7% for 2024 and 6.9% for 2025, while earnings are expected to rise by 15.8% in 2024 and 13.6% in 2025. The long-term earnings per share growth rate is estimated at 12.9% [5]. Growth Drivers - WCN has a strong pipeline of solid waste opportunities, with expected margin expansions and operational efficiencies due to strategic shedding and non-renewals of contracts [6]. Renewable Gas Initiatives - The company is advancing its development of renewable gas (RNG) facilities, with three expected to be operational this year. These projects are anticipated to generate an additional $200 million in EBITDA by early 2026 [7].

Have you been paying attention to shares of Waste Connections (WCN) ? Shares have been on the move with the stock up 7.1% over the past month. The stock hit a new 52-week high of $181.39 in the previous session. Waste Connections has gained 20.9% since the start of the year compared to the 8.4% move for the Zacks Business Services sector and the 18.8% return for the Zacks Waste Removal Services industry. Valuation Metrics Waste Connections has a Value Score of C. The stock's Growth and Momentum Scores are B ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $2.073 billion, exceeding expectations by $23 million, and up $172 million or 9.1% year-over-year [23] - Adjusted EBITDA for Q1 was $650.7 million, a 14.8% increase year-over-year, with an adjusted EBITDA margin of 31.4%, up 160 basis points year-over-year [29] - Net interest expense increased by $10.8 million to $76.4 million due to higher outstanding debt and interest rates [30] - Adjusted free cash flow was approximately $325 million, aligning with expectations for the full year of $1.2 billion [32] Business Line Data and Key Metrics Changes - Solid waste organic growth was driven by a core pricing increase of 7.8%, with reported volume growth at negative 3.8% due to weather impacts [15][25] - Daily roll-off pulls decreased by 3% year-over-year, while daily landfill tons were down 6% [26] - Revenues from recycled commodities, landfill gas, and renewable energy credits increased by about 50% year-over-year [28] Market Data and Key Metrics Changes - The company expects total price growth for 2024 to be in the range of 6% to 7%, with 75% of core price already in place or specified by contract [24] - The impact of weather-related closures accounted for about 1% of volume losses in Q1 [25] Company Strategy and Development Direction - The company is focused on long-term value creation through acquisitions, with approximately $375 million in annualized revenue from completed acquisitions to date [19] - Development of renewable gas facilities is ongoing, with three expected to be operational this year, contributing an anticipated $200 million in annual EBITDA starting in 2026 [21] - The company aims to improve employee retention and safety through expanded training programs, including in-house driver academies [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding the full-year margin outlook of 32.7% due to improved employee retention, safety trends, and rising commodity values [4] - The company anticipates a sequential increase in reported volumes in Q2, assuming typical seasonal activity [17] - Management noted that new federal regulations regarding PFAS are expected to create a uniform playing field and potential M&A opportunities [48] Other Important Information - The company completed a public offering of $750 million in senior notes to reduce borrowing costs [30] - The effective tax rate for Q1 was just under 21%, benefiting from an investment tax credit associated with an RNG facility [31] Q&A Session Summary Question: Can you provide more detail on the margin improvement in Q1? - Management indicated that excluding weather impacts, normalized margins were up 200 basis points, with contributions from commodity-driven factors and acquisitions [43][44] Question: What are the implications of the new PFAS regulations? - Management believes the regulations will create opportunities for well-capitalized companies and does not expect significant capital cost increases [48][50] Question: Can you elaborate on the Q2 volume guidance? - Management indicated that the volume decline reflects margin opportunities and is influenced by M&A activity [56] Question: What is the expected contribution from recycled commodities and RINs in Q2? - Management expects the contribution from recycled commodities to decrease in Q2 compared to Q1, with underlying business growth driving margins [59] Question: How is the company addressing open positions and employee training? - Management reported a reduction in open positions to about 4% and aims for one-third of new hires to come from in-house training programs [70][71] Question: What is the outlook for M&A opportunities? - Management noted active discussions and signed LOIs across all regions, with a balanced approach to acquisitions [92]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Table of Contents Commission file number 1-34370 WASTE CONNECTIONS, INC. (Exact name of registrant as specified in its charter) Ontario, Canada (State or o ...

Exhibit 99.1 WASTE CONNECTIONS REPORTS FIRST QUARTER 2024 RESULTS TORONTO, ONTARIO, April 24, 2024 - Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the "Company") today announced its results for the first quarter of 2024. "We are extremely pleased by the strong start to the year driving better than expected operating and financial results, which, along with recently completed acquisitions, positions us well for the remainder of 2024. Adjusted EBITDA(b) margin expansion of 160 basis points t ...

Financial Data and Key Metrics Changes - Adjusted EBITDA margin expanded by 200 basis points in Q4 2023, reaching an industry-leading margin of 31.5% for the full year, with a 70 basis points increase year-over-year [4][5][13] - Revenue for Q4 was $2.036 billion, up 8.9% year-over-year, contributing to a full year revenue of $8.022 billion, which is an 11.2% increase [21][5] - Adjusted free cash flow for 2023 was $1.224 billion, representing 15.3% of revenue, with a conversion rate of over 48% of adjusted EBITDA [5][24] Business Line Data and Key Metrics Changes - Solid waste organic growth was driven by 8.7% core pricing, although solid waste volumes in Q4 decreased by 2.3% due to shedding poor quality revenues and non-renewal of municipal contracts [4][21] - Core pricing in Q4 ranged from about 7% in exclusive markets to over 10% in competitive markets [21] - Adjusted EBITDA for Q4 was $656 million, up 16.4% year-over-year, with an adjusted EBITDA margin of 32.2% [23] Market Data and Key Metrics Changes - The company closed over $215 million in annualized revenue from 13 acquisitions in 2023, with expectations for 2024 acquisition contributions to exceed $325 million [17][19] - The company is encouraged by recent developments in the New York City franchise process, having been awarded rights to compete in 12 commercial zones [18] Company Strategy and Development Direction - The company aims for continued outsized margin expansion in 2024, driven by reduced employee turnover and moderating cost inflation [14][33] - The focus remains on disciplined acquisition strategies, with a robust pipeline of solid waste opportunities anticipated in the coming quarters [17][18] - Sustainability projects, including renewable natural gas (RNG) facilities, are part of the growth strategy, with expected incremental EBITDA of $200 million by 2026 [25][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for growth in 2024, with expectations for adjusted EBITDA margin expansion and improved operational metrics [33][34] - The company noted that while there are risks and uncertainties, the outlook for 2024 assumes no significant changes in the current economic environment [26] Other Important Information - The company recorded a $160 million increase in landfill closure and post-closure liabilities related to the elevated temperature landfill event at Chiquita Canyon [15][24] - Capital expenditures for 2023 were approximately $1.7 billion, with a focus on organic growth and renewable energy projects [19] Q&A Session Summary Question: Can you walk us through the 200 basis point improvement for Q4 and the expected improvement for 2024? - Management indicated that 75% of the Q4 margin improvement came from the underlying solid waste business, with additional contributions from recycled commodities and RINs [37] Question: Are you assuming that turnover and safety improvements will impact margins in 2024? - Management clarified that while turnover is currently impacting cost structure positively, the benefits from risk reductions are not factored into the 2024 guidance [40] Question: What is the expected revenue impact from M&A in Q1? - Management estimated a contribution of about $65 million from acquisitions in Q1, with expectations for ramping contributions throughout the year [69] Question: How does the New York City franchise opportunity affect your addressable market? - Management noted that the franchise provides certainty and sustainability, allowing for organic growth and acquisition opportunities in the Northeast [57] Question: What is the outlook for wage growth in 2024? - Management expects wage growth to moderate further, potentially falling below 5% as cost pressures ease [68]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File No. 1-34370 WASTE CONNECTIONS, INC. (Exact name of registrant as specified in its charter) Ontario, Ca ...

Waste Connections, Inc. (NYSE:WCN) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Ron Mittelstaedt – President and Chief Executive Officer Mary Anne Whitney – Chief Financial Officer Conference Call Participants Toni Kaplan – Morgan Stanley Kevin Chiang – CIBC Jasper Bibb – Truist Securities Michael Hoffman – Stifel Bryan Burgmeier – Citi Tyler Brown – Raymond James Noah Kaye – Oppenheimer Jerry Revich – Goldman Sachs Stephanie Moore – Jefferies Stephanie Yee – JPMorgan Op ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-34370 WASTE CONNECTIONS, INC. (Exact name of registrant as specified in its charter) Ontario, Canada (State or ...