Welcome to our dedicated page for Waste Connection news (Ticker: WCN), a resource for investors and traders seeking the latest updates and insights on Waste Connection stock.
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 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.
Waste Connections announced plans to offer Canadian dollar-denominated senior notes in a public offering in the U.S. and a private placement in Canada. The company will use the net proceeds to repay its revolving credit facility's Canadian dollar-denominated borrowings. CIBC Capital Markets, TD Securities, and Scotiabank are managing the offering. The notes will be senior unsecured obligations. The offering will be conducted under an effective shelf registration statement filed with the SEC and a Canadian offering memorandum.
Waste Connections announced the results of its Annual Meeting of Shareholders on May 17, 2024. All eight director nominees were elected, with each receiving a majority of the votes. Key results include Andrea E. Bertone receiving 96.81% votes in favor and Carl D. Sparks receiving 99.91%. Shareholders also approved the executive compensation package and reappointed Grant Thornton LLP as the independent auditor for 2024. Waste Connections serves around nine million customers in the U.S. and Canada, focusing on non-hazardous waste management and resource recovery.
Delos Capital and the Silverfern Group announced the completion of the sale of Pioneer Recycling Services, to Waste Connections, a subsidiary of Waste Connections, Inc. Pioneer is a leader in co-mingled residential recycling in the Pacific Northwest. The sale marks a successful partnership that focused on operational excellence and investments in state-of-the-art equipment. The deal signifies a significant milestone for all parties involved.
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