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 has declared a regular quarterly cash dividend of $0.205 U.S. per common share, set to be paid on March 17, 2021, to shareholders of record by March 3, 2021. This decision reflects the Company's ongoing commitment to return value to its shareholders. The Board plans to review the dividend each October, aiming for long-term increases. Shareholders with shares held via U.S. depositaries will receive dividends in U.S. dollars, while those in Canadian depositaries will receive Canadian dollars at the Bank of Canada's exchange rate.
Waste Connections (WCN) announced it will report fourth quarter 2020 financial results on February 17, 2021, followed by a conference call on February 18 at 8:30 A.M. ET. Investors can access the call via phone or a live stream on the company's website. The company plans to participate in various investor events throughout the first quarter of 2021, including the ATB Annual Institutional Investor Conference and the Jefferies ESG Panel. Waste Connections serves more than seven million customers across the U.S. and Canada, providing integrated solid waste services.
Waste Connections reported Q3 2020 results with revenues of $1.390 billion, slightly down from $1.412 billion in 2019. Operating income was $230.7 million, and net income was $158.0 million, maintaining a diluted EPS of $0.60. Adjusted EBITDA decreased to $432.6 million, down from $443.6 million year-over-year. The company achieved a year-to-date adjusted free cash flow of $778 million, positioning it for double-digit growth in 2021. Despite the impacts of COVID-19, solid waste margins saw an expansion of 200 basis points, driven by improved service demands as markets began to reopen.
Waste Connections has declared a 10.8% increase in its quarterly cash dividend, raising it from $0.185 to $0.205 per common share. This dividend will be paid on November 25, 2020, to shareholders of record by the close of business on November 10, 2020. The Board plans to review the quarterly dividend each October, aiming for long-term increases. Waste Connections operates in the solid waste services sector, serving over seven million customers across 42 U.S. states and six Canadian provinces.
Waste Connections, Inc. (WCN) announced it will report third-quarter 2020 financial results on October 28, 2020, after market close. An investor conference call will follow on October 29 at 8:30 A.M. ET. Access to the call is available by dialing 800-920-3365 or 212-231-2902. The company will participate in several upcoming virtual investor events, including the J.P. Morgan Ultimate Services Investor Conference on November 19, and the BMO Growth and ESG Conference on December 9. More details can be found on the company's website.
Waste Connections reported a Q2 2020 revenue of $1.306 billion, surpassing preliminary expectations. However, the company faced a net loss of $227.1 million, or $0.86 per share, largely due to a $417.4 million non-cash impairment charge for certain E&P waste assets. The company achieved an adjusted EBITDA of $394.3 million (30.2% of revenue) and noted YTD adjusted free cash flow of $494.6 million. Notably, solid waste operations showed resilience despite COVID-19 impacts. The outlook for 2020 remains optimistic, exceeding earlier expectations.
Waste Connections has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB), allowing the purchase of up to 13,144,773 common shares, representing 5% of its outstanding shares as of August 1, 2020. The buyback will commence on August 10, 2020, and continue until August 9, 2021. This initiative aims to return capital to shareholders and reflects management's assessment of market conditions. Previously, under the expiring NCIB, the company repurchased 1,271,977 shares at an average price of US$83.06.
Waste Connections has declared a quarterly cash dividend of $0.185 per common share, scheduled for payment on August 18, 2020. Shareholders on record by August 4, 2020 will receive this dividend, distributed in U.S. or Canadian dollars based on their account type. The company's Board aims to review and potentially increase the dividend each October, reinforcing its commitment to returning value to shareholders.
Waste Connections (WCN) announced it will report its Q2 2020 financial results on August 6, 2020. The company expects revenue to decline approximately 4.7% year-over-year, a less severe drop than the previously anticipated 6.0%. Adjusted EBITDA margin is now projected to decrease between 90 to 100 basis points. Positive trends in solid waste activity were noted, with significant improvements in commercial collection and landfill volumes. However, potential impairment charges in the exploration and production segment were highlighted.
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?
