Waste Connection - WCN STOCK NEWS

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.

Waste Connections has declared a quarterly cash dividend of $0.23 U.S. per common share, payable on September 1, 2022, to shareholders recorded by August 18, 2022. This decision reflects the Board's intention to review dividends each October, aiming for long-term increases. Shareholders with broker-held shares will receive dividends in U.S. dollars, while those in Canada will receive payments in Canadian dollars based on the Bank of Canada's exchange rate on the record date.

Waste Connections reported Q2 revenue of $1.816 billion, up 18.4% year-over-year, with a net income of $224.1 million, or $0.87 per share. Adjusted EBITDA was $566.8 million, reflecting a 31.2% margin. For the year-to-date, net cash from operations reached $973.7 million. The company increased its full-year outlook to approximately $7.125 billion in revenue and $2.190 billion in adjusted EBITDA. Strong solid waste pricing growth of 8.8% and a robust acquisition pipeline are contributing factors.

Waste Connections (WCN) will release its second-quarter 2022 financial results on August 2, 2022, following market closure. An investor conference call to discuss the results is scheduled for August 3, 2022, at 8:30 A.M. ET. The company is actively participating in several upcoming industry conferences, including the Raymond James Diversified Industrials Conference on August 23, 2022 and the Stifel Cross Sector Insight Conference on September 7, 2022. Investors can access the live webcast and presentation slides via the company’s investor relations website.

AMP Robotics Corp. has expanded its partnership with Waste Connections (NYSE: WCN), its largest customer, since late 2020. Waste Connections has deployed 50 of AMP's AI-driven robotics systems, solidifying its position as the leading operator in AI-guided robotics within the waste sector. The collaboration aims to enhance recycling efficiency, reduce costs, and elevate quality standards for recyclables. AMP's advanced technology improves the recovery of diverse materials, addressing the rising demand for high-quality recycled content.

On May 13, 2022, Waste Connections held its annual shareholder meeting where all proposed nominees were elected as directors. The election results show strong support for the nominees, with votes for Ronald J. Mittelstaedt at 95.71% and Larry S. Hughes at 99.89%. Additionally, shareholders approved the non-binding advisory compensation of executive officers and the appointment of Grant Thornton LLP as the independent auditor until 2023. Final results will be filed with the SEC and Canadian regulatory authorities.