Welcome to our dedicated page for Waste Connections news (Ticker: WCN), a resource for investors and traders seeking the latest updates and insights on Waste Connections stock.
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 reported strong Q4 2022 results with revenue of $1.869 billion, net income of $194.4 million, and adjusted EBITDA of $563.6 million (30.2% of revenue). Full-year revenue reached $7.212 billion, up 17.2%, and net income was $835.7 million, or $3.24 per share. Adjusted EBITDA for 2022 stood at $2.221 billion, an increase of 15.7%. The company anticipates approximately $8.05 billion in revenue for 2023, reflecting an 11.6% increase, driven by pricing and acquisitions. Waste Connections expects to overcome inflationary pressures while also expanding margins.
Waste Connections (WCN) announced it will report its fourth quarter 2022 financial results on February 15, 2023, after market close. An investor conference call will follow on February 16, 2023, at 8:30 A.M. Eastern Time. The company serves over eight million customers across 43 U.S. states and six Canadian provinces, focusing on non-hazardous waste services and resource recovery. Additionally, Waste Connections is set to participate in various investor conferences in the first quarter of 2023, enhancing its investor relations efforts.
Waste Connections has declared a quarterly cash dividend of $0.255 per common share, marking a 10.9% increase from the previous $0.23. The dividend will be paid on December 1, 2022, to shareholders on record as of the close of business on November 16, 2022. This decision reflects the Board's commitment to regularly review dividends each October, aiming for long-term increases. Payments for shareholders will be made in U.S. dollars for those in the DTC system and in Canadian dollars for those in the CDS system based on the Bank of Canada's exchange rate.
Waste Connections reported robust Q3 2022 results with revenue of $1.880 billion, a 17.7% increase year-over-year. Net income reached $236.9 million, translating to $0.92 per share. The company achieved an adjusted EBITDA of $588.1 million, a 16.3% rise, resulting in a 31.3% EBITDA margin. Year-to-date, operating cash flow hit $1.500 billion with $929 million in adjusted free cash flow. Additionally, a 10.9% dividend increase was announced. The outlook for 2022 remains positive with expectations for continued revenue growth and margin expansion.
AMP Robotics Corp. has successfully raised
Waste Connections has announced that it will release its third quarter 2022 financial results on November 2, 2022, post-market close. An investor conference call is scheduled for November 3, 2022, at 8:30 A.M. Eastern Time. During this call, executives will discuss the results and answer questions. Additionally, the company will participate in the BMO Growth and ESG Conference on December 7, 2022. Stakeholders can access the conference call via webcasting and will have the option to preregister.
Waste Connections, Inc. (WCN) has received approval from the Toronto Stock Exchange for the annual renewal of its normal course issuer bid (NCIB). This allows the company to repurchase up to 12,859,066 common shares, or 5% of its outstanding shares, over the next 12 months starting August 10, 2022. The repurchase decisions will be influenced by market conditions and potential growth opportunities. The previous NCIB resulted in the cancellation of 3,645,987 shares at an average price of $125.70.
Waste Connections has priced a public offering of $750 million in senior notes with a 4.200% interest rate, set to mature in 2033. The offering is expected to close on August 18, 2022, pending customary conditions. Net proceeds, estimated at $741 million, will be allocated to repay borrowings under its revolving credit facility. The offering is facilitated by BofA Securities, J.P. Morgan, MUFG, and Wells Fargo as underwriters. This issuance aligns with Waste Connections' commitment to maintaining financial stability.
Waste Connections (WCN) announced plans for a public offering of senior unsecured notes, subject to market conditions. The proceeds from this offering will be used to repay a portion of its revolving credit facility. BofA Securities, J.P. Morgan, MUFG, and Wells Fargo Securities are acting as underwriters. The offering is made pursuant to an effective registration statement filed with the SEC. Waste Connections, an integrated solid waste services provider, serves over eight million customers across the U.S. and Canada.
FAQ
What is the current stock price of Waste Connections (WCN)?
What is the market cap of Waste Connections (WCN)?
What services does Waste Connections, Inc. provide?
What recent acquisitions has Waste Connections made?
What geographic regions does Waste Connections operate in?
What is Waste Connections' focus in its market strategy?
How did Waste Connections perform financially in 2023?
What are some key ESG initiatives of Waste Connections?
How many landfills does Waste Connections operate?
What is the significance of Waste Connections' acquisition strategy?
When does Waste Connections plan to release its Q1 2024 results?
What is Waste Connections' approach to sustainability?
