WCN
Waste Connections, Inc.176.02
-0.45-0.26%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Chiquita improving; AI details emerge.
Q&A drilled into Chiquita progress, with leachate halved to 200-225k gallons/day from peak, costs at $0.50-$2.50/gallon (40-45% of spend), and EPA aiding streamlining for step-down outlays into 2027. Management unpacked AI initiatives: real-time dynamic routing and mobile connectivity to cut 1.5M monthly calls by 30-50%, rolling out H2 after beta tests. Northeast Arrowhead rail volumes reached 7.5k tonnes/day, targeting 9-9.5k amid 60% internalization. Driver academies hit 60% of hires, doubling retention. Answers largely reaffirmed prepared outlook, highlighting green shoots in special waste but no macro baked in. Watch RNG ramps and AI productivity.
Key Stats
Market Cap
45.26BP/E (TTM)
73.65Basic EPS (TTM)
2.39Dividend Yield
0.01%Recent Filings
8-K
8-K
8-K
Prices $600M notes offering
10-K
FY2025 results
Waste Connections delivered FY2025 revenues of $9.467B, up 6.1% y/y, with acquisitions adding $377M and solid waste internal growth at 2.3% (core pricing +6.5%, offset by -2.8% volumes from shedding low-margin contracts). Q4 landfill tons totaled 13,382k (down from Q3's 14,115k and Q4 2024's 12,884k), while full-year airspace consumed fell to 51,876k tons from 52,128k y/y. Adjusted EBITDA rose 7.7% to $3.125B (33.0% margin), fueled by price-led organic growth outpacing inflation and lower diesel costs, despite softer recycling and landfill gas. Q4 accelerated tuck-in M&A ($967M total consideration), $840M returned via dividends (up 11%) and $506M buybacks; leverage ticked to 2.75x. Landfill permit denials or expansions could stall quarterly volume momentum.
8-K
Q4 beat, strong 2026 guide
Waste Connections crushed Q4 2025 with $2.373B revenue and adjusted EBITDA of $795.6M at 33.5% margin, up 110bps YoY, while full-year revenue hit $9.467B. Acquisitions added $330M annualized revenue; leverage sits at 2.75x. 2026 guides $9.90B-$9.95B revenue, $3.30B-$3.325B adjusted EBITDA. Cash flow doubles digits.
IPO
Employees
Sector
Industry
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