Waste Connection - WCN STOCK NEWS

Waste Connections (TSX/NYSE: WCN) has announced the dates for its third quarter 2024 earnings release and conference call. The company will report financial results after market close on October 23, 2024, followed by an investor conference call on October 24th at 8:30 A.M. Eastern Time. Investors can access the call via webcast or preregister for dial-in instructions. A replay will be available until October 31, 2024.

Waste Connections is an integrated solid waste services company operating across 46 U.S. states and 6 Canadian provinces. It serves approximately nine million customers, providing non-hazardous waste collection, transfer, disposal, and resource recovery services. The company emphasizes its commitment to Environmental, Social, and Governance (ESG) initiatives, focusing on emissions reduction, resource recovery, and employee engagement.

Texas Pacific Land (NYSE: TPL) has announced the closing of two acquisitions in the Permian Basin for $169 million in cash. The acquisitions include:

1. Mineral interests across 4,106 net royalty acres in Culberson County, Texas, overlapping existing TPL royalty acreage and surface acreage.

2. Surface asset spanning 4,120 acres in Martin County, Texas, generating revenue from water supply, produced water disposal, and other surface-related activities.

The combined asset purchase price implies a >13% 2025 free cash flow yield at current strip prices. TPL expects these high-quality assets to immediately contribute to free cash flow and provide substantial incremental value to their legacy asset base.

Waste Connections (TSX/NYSE: WCN) has received approval from the Toronto Stock Exchange for the annual renewal of its normal course issuer bid (NCIB). The company plans to purchase up to 12,901,981 common shares, representing 5% of its issued and outstanding shares, over the next 12 months. Daily repurchases will be to a maximum of 60,089 common shares on the TSX and 25% of the average daily trading volume on the NYSE.

The NCIB will run from August 12, 2024, to August 11, 2025. Waste Connections believes that share repurchases align with its objective to return capital to shareholders over time. The company has not purchased any shares under its current NCIB, which expires on August 9, 2024.

Waste Connections (WCN) has announced changes to its Board of Directors. Cherylyn Harley LeBon, 58, will join the Board and its Compensation Committee effective August 1, 2024, filling the vacancy created by Larry S. Hughes' resignation. LeBon, a partner at Womble Bond Dickinson (US) LLP, brings extensive experience in corporate governance, business strategy, and government relations. She has previously held senior roles in the U.S. Small Business Administration and the Department of Veterans Affairs.

Ronald J. Mittelstaedt, President and CEO, expressed confidence in LeBon's addition to the Board, citing her diverse background and expertise. The company also thanked Hughes for his decade of service, acknowledging his valuable contributions as an attorney and in C-suite level leadership roles.

Waste Connections has declared a regular quarterly cash dividend of $0.285 per common share. The dividend will be paid on August 22, 2024 to shareholders of record by the close of business on August 7, 2024. Payments will be made in U.S. dollars for shares held by U.S. depositary DTC participants, and in Canadian dollars for shares held by Canadian depositary CDS participants, based on the Bank of Canada's daily average exchange rate on August 7, 2024. Shareholders holding shares directly with Computershare will receive payments in Canadian dollars if they are Canadian residents, and in U.S. dollars if they are not. The Board intends to review the dividend each October with a goal of increasing it over the long term.

Waste Connections (NYSE: WCN) reported strong Q2 2024 results, driven by solid execution and acquisition activities. Revenue reached $2.248 billion, up 11.2% YoY, beating expectations. Net income was $275.5 million with an adjusted EBITDA of $731.8 million, reflecting a 16.4% increase. The company raised its full-year outlook, projecting net income of approximately $1.087 billion and adjusted EBITDA of $2.900 billion on revenue of $8.850 billion. Additionally, Waste Connections has completed acquisitions totaling $650 million in annualized revenue.

CEO Ronald J. Mittelstaedt highlighted continued operational strength and improved employee retention. For the first six months of 2024, revenue was $4.321 billion, with net income of $505.5 million. The company remains poised for significant growth, with further acquisitions expected to close later in the year.

Montrose Environmental Group (NYSE: MEG) has partnered with Waste Connections to address PFAS-impacted landfill leachate at Waste Connections' Champ Landfill using Montrose's patented PFAS treatment system. The project involves:

• Deployment of ECT2's FOAM-X™ treatment system
• Rapid leachate sample analysis by Enthalpy Analytical
• Design and installation of a full-scale treatment system
• Educational program support at Waste Connections' Sustainability Campus

The system offers ease of operation, reduced cost and carbon footprint, and targeted removal of PFAS compounds. A ribbon-cutting ceremony will take place on August 6, 2024, at the Champ Landfill Sustainability Campus in Maryland Heights, Missouri.

Waste Connections (TSX/NYSE: WCN) announced it will release its Q2 2024 financial results after the stock market closes on July 24, 2024. An investor conference call is scheduled for July 25, 2024, at 8:30 A.M. Eastern Time. Participants can access the live audio webcast via the company’s investor relations website or preregister to receive personalized dial-in details. A replay will be available until August 1, 2024.

Additionally, Waste Connections will participate in various investor conferences and presentations during Q3 2024. Information and presentation slides will be posted on their website. Waste Connections provides non-hazardous waste services and focuses on ESG initiatives for long-term value creation.

Waste Connections announced the pricing of a C$500 million offering of 4.50% Senior Notes due 2029, at 99.933% of their face value.

The offering is set to close on June 13, 2024, and is expected to generate net proceeds of approximately C$495 million after underwriting fees and expenses.

The proceeds will be used to repay part of the company's Canadian dollar-denominated revolving credit facility.

CIBC Capital Markets, TD Securities, and Scotiabank are among the joint book-running managers and underwriters for the offering.

The offering will be conducted in the U.S. under a shelf registration statement filed with the SEC, and in Canada through a private placement memorandum.