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.
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On April 26, 2023, Waste Connections (TSX/NYSE: WCN) announced a quarterly cash dividend of $0.255 per common share, payable on May 24, 2023, to shareholders of record by May 10, 2023. The Board of Directors aims to review the dividend quarterly, with a long-term goal of increasing it. Shareholders will receive dividends in U.S. dollars or Canadian dollars depending on their broker's participation in the U.S. or Canadian depositary systems. Waste Connections operates integrated solid waste services across the U.S. and Canada, serving over eight million customers. The announcement reflects the company's ongoing commitment to providing returns to shareholders.
Waste Connections reported a strong first quarter of 2023, achieving revenue of $1.901 billion, a 15.4% increase year-over-year. Net income was $197.8 million, translating to $0.77 per diluted share, while adjusted EBITDA reached $566.9 million. The company attributed its performance to solid waste pricing growth and operational execution, despite challenges from weather impacts and a decline in resource recovery values from the previous year. With ongoing acquisition activity, the company remains optimistic about meeting its full-year outlook, highlighting potential benefits from further acquisitions and improvements in recycled commodities values. Waste Connections also noted that it closed approximately $45 million in acquired revenue year-to-date, with expectations for continued activity throughout the year.