Waste Connections, Inc. (WCN) has had an impressive run over the past year. The stock has gained 24%, outperforming the industry’s 20% rally.The company has an expected long-term earnings per share (three to five years) growth rate of 12.4%. Earnings are expected to register year-over-year growth of 15.5% in 2024 and 12.2% in 2025.Factors That Augur Well for WCNBeing a leading player in the waste management industry, Waste Connections will likely benefit from ongoing trends such as increasing environmental ...

Waste Connections, Inc. (WCN) stock has rallied 29.5% over the past year. The company’s performance is being driven by healthy demand for services, acquisitions, operating efficiency and increased prices charged to customers.Waste Connections has been benefiting from trends such as rising environmental concerns, rapid industrialization and increased population. The company’s services usually cannot be delayed and are required on a scheduled basis, allowing it to achieve a steady flow of revenues, which grew ...

It has been about a month since the last earnings report for Waste Connections (WCN) . Shares have added about 5.9% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Waste Connections due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Waste Connections Beats on Q3 Earn ...

Core Insights - Waste Connections, Inc. (WCN) reported strong third-quarter 2024 results, with earnings and revenues exceeding Zacks Consensus Estimates, although the stock declined by 2.5% post-release [1][2] Financial Performance - Adjusted earnings were $1.4 per share, surpassing the consensus estimate by 3.9% and reflecting a year-over-year increase of 15.4% [2] - Revenues reached $2.3 billion, beating the consensus estimate by 2.2% and growing 13.3% compared to the same quarter last year [2] - Adjusted EBITDA was $787.4 million, up 17.3% year-over-year, with an adjusted EBITDA margin of 33.7%, an increase of 120 basis points from the previous year [5] Segment Performance - Solid Waste Collection segment revenues grew 7.2% year-over-year to $1.6 billion [3] - Solid Waste Disposal and Transfer segment revenues increased 10.4% to $776.9 million, exceeding expectations [3] - Solid Waste Recycling segment revenues surged 65.1% to $63.3 million, beating estimates [4] - Intermodal and Other segment revenues rose 93.2% to $69.7 million, surpassing expectations [4] - E&P Waste Treatment, Recovery, and Disposal segment revenues more than doubled to $154.2 million, exceeding estimates [4] Cash Flow and Balance Sheet - Cash generated from operating activities was $558.3 million, with adjusted free cash flow at $316.3 million [7] - Capital expenditures totaled $272.1 million, and dividends paid amounted to $65.7 million [7] - The company ended the quarter with cash and cash equivalents of $78.4 million and long-term debt of $6.7 billion, unchanged from the previous quarter [6] Future Outlook - Waste Connections raised its 2024 revenue guidance to $8.9 billion, up from $8.85 billion, while the Zacks Consensus Estimate remains at $8.85 billion [8] - Expected adjusted EBITDA for 2024 is $2.91 billion, with a margin of 32.7% [8]

For the quarter ended September 2024, Waste Connections (WCN) reported revenue of $2.34 billion, up 13.3% over the same period last year. EPS came in at $1.35, compared to $1.17 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.29 billion, representing a surprise of +2.18%. The company delivered an EPS surprise of +3.85%, with the consensus EPS estimate being $1.30.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

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, 2024 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 number 1-34370 WASTE CONNECTIONS, INC. (Exact name of registrant as specified in its charter) Ontario, Canada (State ...

Waste Connections (WCN) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this solid waste services provider would post earnings of $1.18 per share when it actually produced earnings of $1.24, delivering a surprise of 5.08%.Over the last four q ...

[Q3 2024 Earnings Release Overview](index=1&type=section&id=Q3%202024%20Earnings%20Release%20Overview) [Third Quarter 2024 Highlights](index=1&type=section&id=Third%20Quarter%202024%20Highlights) Waste Connections reported strong third-quarter 2024 results, exceeding expectations and leading to an increased full-year outlook. Revenue grew 13.3% year-over-year to $2.338 billion, driven by solid waste core pricing and acquisition contributions. Adjusted EBITDA margin expanded by 120 basis points to 33.7%, and the company raised its quarterly dividend by 10.5% Q3 2024 Key Financial Metrics | Metric | Q3 2024 Value | Year-over-Year Change | | :--- | :--- | :--- | | Revenue | $2.338 billion | +13.3% | | Net Income | $308.0 million | - | | Adjusted EBITDA | $787.4 million | +17.3% | | Adjusted EBITDA Margin | 33.7% | +120 bps | | Net Income per Share | $1.19 | - | | Adjusted Net Income per Share | $1.35 | - | - The company increased its regular quarterly dividend by **10.5%**, reflecting strong operating performance and free cash flow generation[1](index=1&type=chunk)[3](index=3&type=chunk) - Acquisitions are on pace to total over **$700 million** in annualized revenue for 2024, with an estimated **2% rollover revenue contribution** expected in 2025[1](index=1&type=chunk)[3](index=3&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) The CEO highlighted strong operational execution, with 6.8% core pricing in solid waste and improved volumes driving results above expectations. The company noted continued progress in employee retention, with voluntary turnover improving for the eighth consecutive quarter. Management anticipates high single-digit adjusted EBITDA growth in 2025, supported by revenue carryover from a record year of acquisition activity - Solid waste growth was led by **6.8% core pricing**, supplemented by incremental acquisition contributions and a **90 basis point sequential improvement** in solid waste volumes[2](index=2&type=chunk) - Employee retention has improved significantly, with voluntary turnover declining for the **eighth consecutive quarter**, resulting in multi-year reductions of **over 40%**[3](index=3&type=chunk) - The company expects **high single-digit adjusted EBITDA growth** in 2025, driven by **mid to high single-digit revenue growth**, including **about 2% carryover** from 2024's acquisition activity[3](index=3&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) [Q3 2024 Results](index=1&type=section&id=Q3%202024%20Results) In Q3 2024, revenue increased to $2.338 billion from $2.065 billion in Q3 2023. Net income rose to $308.0 million ($1.19 per share) from $229.0 million ($0.89 per share) in the prior-year period. Adjusted EBITDA saw significant growth to $787.4 million, up from $671.2 million year-over-year Q3 Financial Performance Comparison (2024 vs. 2023) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Revenue | $2,338.0 million | $2,065.0 million | | Operating Income | $475.3 million | $353.0 million | | Net Income | $308.0 million | $229.0 million | | Diluted EPS | $1.19 | $0.89 | | Adjusted Net Income | $350.0 million | $303.1 million | | Adjusted Diluted EPS | $1.35 | $1.17 | | Adjusted EBITDA | $787.4 million | $671.2 million | [Nine Months Year-to-Date (YTD) Results](index=3&type=section&id=Nine%20Months%20Year-to-Date%20(YTD)%20Results) For the first nine months of 2024, revenue grew to $6.659 billion from $5.986 billion in the same period of 2023. Net income increased to $813.6 million ($3.15 per share) from $636.0 million ($2.46 per share). Adjusted EBITDA for the period was $2.170 billion, compared to $1.867 billion in the prior year YTD Financial Performance Comparison (2024 vs. 2023) | Metric | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | | Revenue | $6,659.0 million | $5,986.0 million | | Operating Income | $1,267.0 million | $1,012.0 million | | Net Income | $813.6 million | $636.0 million | | Diluted EPS | $3.15 | $2.46 | | Adjusted Net Income | $938.7 million | $795.8 million | | Adjusted Diluted EPS | $3.63 | $3.08 | | Adjusted EBITDA | $2.170 billion | $1.867 billion | [Updated 2024 Full Year Outlook](index=3&type=section&id=Updated%202024%20Full%20Year%20Outlook) [Full Year 2024 Guidance](index=3&type=section&id=Full%20Year%202024%20Guidance) Waste Connections has raised its full-year 2024 outlook, now estimating revenue of approximately $8.9 billion and adjusted EBITDA of $2.910 billion. This represents a $150 million increase in the revenue forecast and a $50 million increase in the adjusted EBITDA forecast from the original outlook. Capital expenditures and adjusted free cash flow estimates remain in line with original guidance Updated Full Year 2024 Outlook | Metric | Updated 2024 Outlook | Change from Original Outlook | | :--- | :--- | :--- | | Revenue | ~$8.9 billion | +$150 million | | Net Income | ~$1.082 billion | - | | Adjusted EBITDA | ~$2.910 billion | +$50 million | | Capital Expenditures | ~$1.150 billion | In line | | Net Cash from Operations | ~$2.342 billion | In line | | Adjusted Free Cash Flow | ~$1.200 billion | In line | - The updated outlook assumes no change in the current economic environment and excludes the impact of any additional acquisitions that may close during the year[8](index=8&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Net Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Net%20Income) The income statement for the nine months ended September 30, 2024, shows a 11.2% increase in revenues to $6.66 billion. Operating income grew by 25.2% to $1.27 billion, and net income attributable to Waste Connections increased by 27.9% to $813.6 million compared to the same period in 2023 Nine Months Ended Sept 30 - Income Statement Highlights (in thousands) | Line Item | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $6,659,308 | $5,986,342 | +11.2% | | Operating income | $1,266,849 | $1,011,794 | +25.2% | | Net income attributable to Waste Connections | $813,577 | $636,047 | +27.9% | | Diluted EPS | $3.15 | $2.46 | +28.0% | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2024, total assets increased to $20.10 billion from $17.92 billion at year-end 2023, primarily driven by growth in property & equipment, goodwill, and intangible assets. Total liabilities rose to $11.83 billion from $10.22 billion, largely due to an increase in long-term debt. Total equity increased to $8.26 billion Balance Sheet Highlights (in thousands) | Line Item | Sept 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total current assets | $1,355,132 | $1,141,785 | | Property and equipment, net | $8,234,162 | $7,228,331 | | Goodwill | $7,922,757 | $7,404,400 | | Total assets | $20,095,364 | $17,915,876 | | Total current liabilities | $1,754,033 | $1,687,932 | | Long-term debt | $8,160,538 | $6,724,771 | | Total liabilities | $11,833,909 | $10,218,095 | | Total equity | $8,261,455 | $7,697,781 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2024, net cash provided by operating activities was $1.66 billion, a slight increase from $1.57 billion in the prior year. Net cash used in investing activities increased significantly to $2.65 billion, driven by $2.01 billion in payments for acquisitions. Net cash provided by financing activities was $1.04 billion, reflecting proceeds from long-term debt Nine Months Ended Sept 30 - Cash Flow Highlights (in thousands) | Line Item | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,659,998 | $1,570,876 | | Net cash used in investing activities | ($2,645,810) | ($1,185,613) | | *Payments for acquisitions, net* | *($2,010,274)* | *($573,185)* | | *Capital expenditures* | *($659,302)* | *($615,554)* | | Net cash provided by (used in) financing activities | $1,040,357 | ($366,536) | [Additional Statistics and Non-GAAP Reconciliations](index=10&type=section&id=Additional%20Statistics%20and%20Non-GAAP%20Reconciliations) [Key Operating Metrics](index=10&type=section&id=Key%20Operating%20Metrics) In Q3 2024, solid waste internal growth was 5.4%, driven by a strong 6.8% in core pricing, which offset a 1.9% volume decline. Solid Waste Collection remains the largest revenue segment at 69.2%. Revenue from acquisitions contributed $161.0 million in the quarter, a significant increase from $102.9 million in Q3 2023 Solid Waste Internal Growth (Q3 2024) | Component | Growth Rate | | :--- | :--- | | Core Price | 6.8% | | Surcharges | (0.3%) | | Volume | (1.9%) | | Recycling | 1.0% | | Foreign Exchange Impact | (0.2%) | | **Total** | **5.4%** | Revenue Breakdown (Q3 2024) | Segment | Revenue (million) | % of Total | | :--- | :--- | :--- | | Solid Waste Collection | $1,617.4 | 69.2% | | Solid Waste Disposal and Transfer | $459.8 | 19.6% | | Solid Waste Recycling | $67.1 | 2.9% | | E&P Waste Treatment, Recovery and Disposal | $147.3 | 6.3% | | Intermodal and Other | $46.9 | 2.0% | - Revenue from acquisitions, net of divestitures, increased to **$161.0 million** in Q3 2024 from **$102.9 million** in Q3 2023[20](index=20&type=chunk) [Non-GAAP Reconciliations](index=13&type=section&id=Non-GAAP%20Reconciliations) The report provides detailed reconciliations for non-GAAP measures including Adjusted EBITDA, Adjusted Free Cash Flow, and Adjusted Net Income. These adjustments primarily exclude items like amortization of intangibles, impairments, transaction-related expenses, and fair value changes to equity awards to provide a clearer view of ongoing operational performance and liquidity - Adjusted EBITDA is reconciled from net income by adding back taxes, interest, D&A, and other specific items like transaction-related expenses and impairments to better assess operating performance[24](index=24&type=chunk)[25](index=25&type=chunk) - Adjusted Free Cash Flow is calculated starting from net cash from operating activities, adjusting for capital expenditures, asset sale proceeds, and other items like transaction costs to measure liquidity[26](index=26&type=chunk)[27](index=27&type=chunk) - Adjusted Net Income excludes non-cash amortization of intangibles, impairments, transaction costs, and other items to improve comparability of operating results between periods[29](index=29&type=chunk)[30](index=30&type=chunk)

TORONTO, Oct. 23, 2024 /PRNewswire/ -- Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the "Company") today announced that its Board of Directors has declared a regular quarterly cash dividend on the Company's common shares and approved a 10.5% increase in the dividend. The regular quarterly cash dividend, which increases to $0.315 U.S. per common share of the Company from $0.285 U.S. per common share of the Company, will be paid on November 21, 2024 to shareholders of record on the close of ...

Wall Street analysts expect Waste Connections (WCN) to post quarterly earnings of $1.30 per share in its upcoming report, which indicates a year-over-year increase of 11.1%. Revenues are expected to be $2.29 billion, up 10.8% from the year-ago quarter. The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period. Before a company reveal ...