Waste Connections (WCN) Q2 Earnings and Revenues Beat Estimates

Core Insights - Waste Connections (WCN) reported quarterly earnings of $1.24 per share, exceeding the Zacks Consensus Estimate of $1.18 per share, and up from $1.02 per share a year ago, representing an earnings surprise of 5.08% [1] - The company achieved revenues of $2.25 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.44% and increasing from $2.02 billion year-over-year [2] - Waste Connections has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Financial Performance - The earnings surprise for the previous quarter was 1.96%, with actual earnings of $1.04 per share compared to an expected $1.02 [1] - Year-to-date, Waste Connections shares have increased by approximately 21.1%, outperforming the S&P 500's gain of 16.5% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.33 on revenues of $2.28 billion, and for the current fiscal year, it is $4.79 on revenues of $8.8 billion [7] - The estimate revisions trend for Waste Connections is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Waste Removal Services industry ranks in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, Arq, Inc. (ARQ), is expected to report a quarterly loss of $0.05 per share, reflecting a year-over-year change of +76.2% [9]