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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 has declared a regular quarterly cash dividend of $0.23 per common share, payable on March 16, 2022, to shareholders on record as of March 2, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders. The Board plans to review the dividend each October, aspiring to increase it in the long term. Shareholders will receive payments in U.S. or Canadian dollars based on their registration with respective depositaries.
Waste Connections reported strong Q4 and full-year 2021 results, driven by price-led organic growth and acquisition activity. Q4 revenue surged to $1.624 billion, net income reached $166.3 million ($0.64 per share), and adjusted EBITDA was $495.4 million. For the full year, revenue increased by 13.0% to $6.151 billion, and net income climbed by 202.1% to $618.0 million ($2.36 per share). Expectations for 2022 project revenue of $6.875 billion, with continued double-digit growth and a commitment to shareholder returns.
Waste Connections (WCN) will announce its fourth quarter 2021 financial results and 2022 outlook after market close on February 16, 2022. An investor conference call will follow on February 17 at 8:30 A.M. ET. The company will participate in several investor events throughout the first quarter, including the ATB Annual Institutional Investor Conference on January 11 and the Deutsche Bank ESG Conference on February 28. Interested parties can access the call via the company's investor website or by dialing in directly.
Waste Connections has declared a regular quarterly cash dividend of $0.23 U.S. per share, marking a significant 12.2% increase from the previous $0.205 amount. This payment is scheduled for November 23, 2021, for shareholders on record as of November 9, 2021. The Board plans to review the dividend quarterly, aiming for continuous increases. The dividend will be paid in U.S. dollars for shares held in U.S. depository accounts and in Canadian dollars for those in Canadian depositories, based on the current exchange rate.
Waste Connections reported third-quarter revenue of $1.597 billion, a 14.9% year-over-year increase, driven by strong solid waste pricing and acquisition activity. Net income reached $114.4 million, or $0.44 per share, with adjusted EBITDA at $505.6 million, or 31.7% of revenue. Year-to-date, the company generated $1.27 billion in cash from operations and closed acquisitions yielding approximately $240 million in annualized revenues. The quarterly dividend increased by 12.2%, with an outlook for full-year revenue of approximately $6.11 billion.
Waste Connections (WCN) announced that it will release its financial results for Q3 2021 post-market on October 27, 2021. An investor conference call is scheduled for October 28 at 8:30 A.M. ET. Investors can access the live audio webcast on the company's investor relations site. Additionally, Waste Connections will participate in the BMO Capital Markets Growth & ESG Conference on December 7, 2021, with presentation slides available 24 hours prior on their website.
Waste Connections (WCN) has successfully repaid all outstanding senior notes totaling $1.5 billion due between 2022 and 2027. This repayment was funded by proceeds from a $650 million offering of 2.20% Senior Notes due 2032 and $850 million of 2.95% Senior Notes due 2052, along with borrowing from its credit facility. The company anticipates a $115 million charge in Q3 2021 financial results. CFO Mary Anne Whitney expressed optimism about extending maturities and reducing interest costs, enhancing financial flexibility for future growth.
Waste Connections has announced the pricing of a $1.5 billion public offering of senior notes, which includes $650 million of 2.200% notes due 2032 and $850 million of 2.950% notes due 2052. The offering is expected to close on September 20, 2021, and aims to raise approximately $1.471 billion in net proceeds. These proceeds will be used to repay existing senior notes. The offering is managed by BofA Securities, J.P. Morgan, MUFG, and Wells Fargo. This announcement follows the registration statement filed with the SEC on September 1, 2021.
Waste Connections (WCN) announced plans for a public offering of senior notes due in 2032 and 2052, subject to market conditions. The offering aims to generate funds to repay $1.5 billion of outstanding senior notes from previous agreements. The notes will be senior unsecured obligations of the company. Joint book-running managers for the offering include BofA Securities, J.P. Morgan, MUFG, and Wells Fargo Securities. This process follows an effective registration statement filed with the SEC on September 1, 2021.
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