Waste nections(WCN)2025-04-23 20:10Financial Performance - Revenue for Q1 2025 was $2.228 billion, a 7.5% increase from $2.073 billion in Q1 2024[5] - Net income for Q1 2025 was $241.5 million, or $0.93 per diluted share, compared to $230.1 million, or $0.89 per diluted share in the prior year[5] - Adjusted EBITDA for Q1 2025 was $712.2 million, up 9.5% year over year from $650.7 million[6] - Adjusted EBITDA margin improved to 32.0%, an increase of 60 basis points compared to the previous year[6] - Net income for the three months ended March 31, 2025, was $241,510, an increase from $230,054 in the same period of 2024, representing a growth of 5.3%[30] - Total revenue for the three months ended March 31, 2025, was $2,228,176, up from $2,072,653 in 2024, reflecting an increase of 7.5%[19] - Adjusted EBITDA for the three months ended March 31, 2025, was $712,213, compared to $650,673 in 2024, marking a growth of 9.5%[22] - The diluted earnings per share attributable to Waste Connections increased to $1.13 for the three months ended March 31, 2025, from $1.04 in 2024, reflecting an increase of 8.7%[30] Cash Flow and Financial Position - Net cash provided by operating activities was $541.5 million, with adjusted free cash flow of $332.1 million[6] - Cash flows from operating activities increased to $541,539 for the three months ended March 31, 2025, from $490,309 in 2024, a rise of 10.4%[27] - The company reported adjusted free cash flow of $332,075 for the three months ended March 31, 2025, slightly up from $324,793 in 2024, an increase of 2.4%[27] - Cash interest paid increased to $84,154 for the three months ended March 31, 2025, compared to $66,384 in 2024, an increase of 26.8%[20] - Debt to book capitalization at March 31, 2025, was reported at 51%, indicating a stable leverage position[21] Growth and Acquisitions - Year-to-date acquired annualized revenue reached over $125 million, including a new recycling facility in New Jersey[4] - The company plans to continue above-average acquisition activity in 2025, supported by strong financial position and free cash flow generation[4] - The contribution from acquisitions for the three months ended March 31, 2025, was $129,298, up from $77,988 in 2024, indicating a significant increase of 65.8%[19] Operational Performance - Employee retention improved for the tenth consecutive quarter, alongside record safety performance[4] - Solid waste internal growth for the three months ended March 31, 2025, was 2.2%, driven by a core price increase of 6.9%[17] - The company achieved a core solid waste pricing increase of 6.9%[3] Future Outlook - Waste Connections will provide its Q2 2025 outlook for revenue and adjusted EBITDA in a Form 8-K filing on April 24, 2025[9]