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Waste Connections, Inc. (NYSE/TSX: WCN) is a leading provider of comprehensive waste management services in North America. The company operates across 46 U.S. states, six Canadian provinces, and the District of Columbia, servicing approximately nine million residential, commercial, industrial, and energy sector customers. Waste Connections offers a range of services that include waste collection, transfer, disposal, and recycling. Additionally, through its R360 Environmental Solutions subsidiary, the company provides non-hazardous oilfield waste treatment, recovery, and disposal services in key natural resource producing areas in the U.S., such as the Permian, Bakken, and Eagle Ford basins.
Waste Connections' strategic focus is on secondary and suburban markets with favorable demographic growth trends and high barriers to entry, which ensures a stable customer base and less competition. The company is the third-largest integrated provider of traditional solid waste and recycling services in North America, operating 103 active landfills, 157 transfer stations, and 81 recycling facilities.
In recent news, Waste Connections has been active in expanding its footprint and service portfolio. In December 2023, its subsidiary, Waste Connections of Canada Inc., entered into an agreement to acquire 30 energy waste treatment and disposal facilities from Secure Energy Services Inc. for approximately CAD 1.075 billion. This acquisition, expected to close in Q1 2024, will bolster Waste Connections' presence in Western Canada’s oil and gas basins.
Financially, Waste Connections reported revenue of $8.022 billion for the fiscal year 2023, with an adjusted EBITDA of $2.523 billion. The company continually seeks to expand through strategic acquisitions and investments in high-margin operations, which have driven robust growth and improved margins. In Q1 2024, Waste Connections reported $2.073 billion in revenue, reflecting a strong start to the year.
Environmental, Social, and Governance (ESG) initiatives are integral to Waste Connections' operations. The company is committed to reducing emissions, enhancing resource recovery, and improving safety protocols. These efforts are aimed at creating long-term value for stakeholders while ensuring sustainable operations.
The company's leadership in waste management and its proactive acquisition strategy position Waste Connections as a significant player in the industry, delivering reliable and efficient waste management solutions to a diverse customer base.
Waste Connections (TSX/NYSE: WCN) announced it will release its Q2 2024 financial results after the stock market closes on July 24, 2024. An investor conference call is scheduled for July 25, 2024, at 8:30 A.M. Eastern Time. Participants can access the live audio webcast via the company’s investor relations website or preregister to receive personalized dial-in details. A replay will be available until August 1, 2024.
Additionally, Waste Connections will participate in various investor conferences and presentations during Q3 2024. Information and presentation slides will be posted on their website. Waste Connections provides non-hazardous waste services and focuses on ESG initiatives for long-term value creation.
Waste Connections announced the pricing of a C$500 million offering of 4.50% Senior Notes due 2029, at 99.933% of their face value.
The offering is set to close on June 13, 2024, and is expected to generate net proceeds of approximately C$495 million after underwriting fees and expenses.
The proceeds will be used to repay part of the company's Canadian dollar-denominated revolving credit facility.
CIBC Capital Markets, TD Securities, and Scotiabank are among the joint book-running managers and underwriters for the offering.
The offering will be conducted in the U.S. under a shelf registration statement filed with the SEC, and in Canada through a private placement memorandum.
Waste Connections announced plans to offer Canadian dollar-denominated senior notes in a public offering in the U.S. and a private placement in Canada. The company will use the net proceeds to repay its revolving credit facility's Canadian dollar-denominated borrowings. CIBC Capital Markets, TD Securities, and Scotiabank are managing the offering. The notes will be senior unsecured obligations. The offering will be conducted under an effective shelf registration statement filed with the SEC and a Canadian offering memorandum.
Waste Connections announced the results of its Annual Meeting of Shareholders on May 17, 2024. All eight director nominees were elected, with each receiving a majority of the votes. Key results include Andrea E. Bertone receiving 96.81% votes in favor and Carl D. Sparks receiving 99.91%. Shareholders also approved the executive compensation package and reappointed Grant Thornton LLP as the independent auditor for 2024. Waste Connections serves around nine million customers in the U.S. and Canada, focusing on non-hazardous waste management and resource recovery.
Delos Capital and the Silverfern Group announced the completion of the sale of Pioneer Recycling Services, to Waste Connections, a subsidiary of Waste Connections, Inc. Pioneer is a leader in co-mingled residential recycling in the Pacific Northwest. The sale marks a successful partnership that focused on operational excellence and investments in state-of-the-art equipment. The deal signifies a significant milestone for all parties involved.
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