Waste Connections, Inc. reports developments as an integrated solid waste services company providing non-hazardous waste collection, transfer and disposal, resource recovery through recycling and renewable fuels generation, non-hazardous oilfield waste services, and intermodal movement of cargo and solid waste containers. The company operates across U.S. and Canadian markets and emphasizes mostly exclusive and secondary markets.
Recurring news covers operating results, pricing retention, commodity-related impacts, acquisition activity, capital returns through dividends and share repurchases, debt financing, technology-related investments, ESG initiatives tied to emissions, resource recovery, leachate management, safety and employee engagement, and board or executive governance changes.
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.
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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.