Core Viewpoint - Waste Connections (WCN) is expected to report quarterly earnings of $1.07 per share, reflecting a 2.9% increase year-over-year, with revenues projected at $2.22 billion, indicating a 7.1% year-over-year growth [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 0.4%, indicating a collective reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate trends and short-term stock performance [3]. Revenue Projections - Analysts project 'Revenue Breakdown- E&P Waste Treatment, Recovery and Disposal' at $119.94 million, a significant increase of 131.7% year-over-year [5]. - The estimated 'Revenue Breakdown- Intermodal and Other' is $54.46 million, reflecting a 42.5% year-over-year increase [5]. - 'Revenues- E&P' are expected to reach $116.93 million, marking a 20% increase from the previous year [5]. - The consensus for 'Revenues- Intermodal and Other' stands at $55.14 million, indicating an 11.3% year-over-year change [6]. - 'Revenues- Total collection' is projected at $1.60 billion, showing a 5.8% increase from the prior year [6]. - 'Revenues- Recycling' is expected to decline to $46.25 million, reflecting a year-over-year decrease of 5.7% [6]. Geographic Revenue Insights - 'Geographic Revenues- Canada' are projected to reach $330.45 million, indicating a 17.9% year-over-year increase [7]. - 'Geographic Revenues- Southern' are expected at $457.70 million, reflecting a 9.3% increase [7]. - 'Geographic Revenues- Central' is forecasted to be $395.83 million, marking a 9.7% year-over-year change [7]. - 'Geographic Revenues- Eastern' are projected at $405.97 million, indicating a 12.8% increase [8]. - 'Geographic Revenues- Western' are expected to reach $454.36 million, reflecting a 7.6% increase [8]. Segment Performance - Analysts estimate 'Segment EBITDA- Western' to reach $126.49 million, compared to $113.05 million reported in the same quarter last year [8]. Stock Performance - Shares of Waste Connections have shown a return of 3.1% over the past month, contrasting with the Zacks S&P 500 composite's decline of 6.3% [9].

4月8日，超越科技今日收盘18.84元，上涨3.23%，最新市净率2.47，总市值17.76亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)24超越科技-18.23-14.822.4717.76亿行业平均 42.4546.922.9948.10亿行业中值23.6323.791.4330.87亿1华宏科技-1691.95-30.651.3648.67亿2聚光科 技-292.12-26.052.7884.05亿3深水海纳-246.87-76.802.6726.82亿4清研环境-242.4755.281.4311.59亿5津膜 科技-195.38-149.572.9416.31亿6神雾节能-133.51-81.5920.4013.90亿7京源环保-101.99-101.993.1823.89亿8 艾布鲁-83.96-177.225.8748.83亿9冠中生态-80.6834.091.3911.65亿10森远股份-80.67-80.679.9640.24亿11 清新环境-65.8839.030.7949.71亿 来源：金融界 资金流向方面，4月8日，超越科技主力资金净流出51.59万元，近5日总体呈流出 ...

Financial Data and Key Metrics Changes - The company generated revenue of $445,000 for the fiscal year ended December 31, 2024, compared to $743,000 in the prior year, indicating a decline in revenue [52] - Total operating expenses increased by 59% to $11.9 million for the year ended December 31, 2024, compared to $7.5 million for the year ended December 31, 2023 [55] - Net loss for the year was $12.4 million, compared to $8.1 million in the prior year [57] Business Line Data and Key Metrics Changes - Revenue generated in 2024 was primarily from manufacturing assembly services and treatability study services, with fewer milestones reached leading to reduced revenue recognition [52][53] - The company is in active late-stage negotiations for AS6 and AS30 capital sales and is launching its waste destruction services business [54] Market Data and Key Metrics Changes - The global waste treatment addressable market opportunity is approximately $450 billion, with the municipal water and wastewater treatment market estimated at over $347 billion annually, growing at about 7.5% [38] - The U.S. federal waste management market is estimated at approximately $15 billion, while the industrial waste management market is estimated at $128 billion [40][42] Company Strategy and Development Direction - The company aims to establish multiple regional waste destruction facilities in partnership with treatment, storage, and disposal facilities (TSDF) across the U.S. [36] - The growth strategy includes capital sales, leases, and waste destruction services, with a focus on expanding manufacturing capabilities for AS1, AS6, and AS30 units [37][44] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in 2025 being the best year for revenue, with a projected path to $250 million to $500 million in revenue over the next five years [54][49] - The regulatory environment is seen as supportive of demand for innovative waste management solutions, particularly for PFAS destruction [58][59] Other Important Information - The company completed a registered direct offering in November 2024, resulting in gross proceeds of $12.2 million, which is being utilized to improve technology and expand operations [50] - The company has expanded its intellectual property portfolio with multiple patent applications filed throughout the year [17] Q&A Session Summary Question: Can you expand on the North Carolina opportunity and its timeline? - Management indicated that the first 1,000 gallons of waste destruction must be completed within six months, with a focus on complete elimination of AFFF [66][67] Question: What is the current manufacturing capacity and its impact on growth? - Current manufacturing capacity allows for the production of two to four systems at a time, with plans for future expansion as demand increases [68][69]