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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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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.
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 has appointed Ronald J. Mittelstaedt as President and CEO, effective April 23, 2023, succeeding Worthing F. Jackman. Mittelstaedt, the company's founder, previously served as CEO from 1997 until July 2019 and has been the Executive Chairman since then. Following this transition, Michael W. Harlan becomes the non-executive Chairman of the Board. The company expressed gratitude for Jackman’s leadership during challenging times, notably the pandemic and hyperinflation. Waste Connections reaffirmed its financial outlook for 2023, with further details expected in the upcoming Q1 2023 earnings report on April 26, 2023. The company is positioned as a leader in integrated solid waste services across the U.S. and Canada, serving over eight million customers.
Waste Connections (WCN) will announce its first quarter 2023 financial results after market close on April 26, 2023. A conference call for investors will follow on April 27, 2023, at 8:30 A.M. ET. The company will showcase its participation in several upcoming investor events in May and June 2023, including the Stifel Investor Summit and Goldman Sachs Industrials Conference. Waste Connections provides integrated solid waste services to millions across the U.S. and Canada, focusing on non-hazardous waste collection and disposal.
Waste Connections has declared a quarterly cash dividend of $0.255 per common share, set for payment on March 15, 2023. This decision aims to reward shareholders, with the record date for eligibility on March 1, 2023. The Board plans to review the dividend each October, signaling a long-term ambition to increase it. Shareholders holding shares through U.S. or Canadian brokers will receive dividends in their respective currencies, based on the Bank of Canada's exchange rate for Canadian shareholders. Waste Connections provides solid waste services across the U.S. and Canada, serving over eight million customers.
Waste Connections reported strong Q4 2022 results with revenue of $1.869 billion, net income of $194.4 million, and adjusted EBITDA of $563.6 million (30.2% of revenue). Full-year revenue reached $7.212 billion, up 17.2%, and net income was $835.7 million, or $3.24 per share. Adjusted EBITDA for 2022 stood at $2.221 billion, an increase of 15.7%. The company anticipates approximately $8.05 billion in revenue for 2023, reflecting an 11.6% increase, driven by pricing and acquisitions. Waste Connections expects to overcome inflationary pressures while also expanding margins.
Waste Connections (WCN) announced it will report its fourth quarter 2022 financial results on February 15, 2023, after market close. An investor conference call will follow on February 16, 2023, at 8:30 A.M. Eastern Time. The company serves over eight million customers across 43 U.S. states and six Canadian provinces, focusing on non-hazardous waste services and resource recovery. Additionally, Waste Connections is set to participate in various investor conferences in the first quarter of 2023, enhancing its investor relations efforts.
Waste Connections has declared a quarterly cash dividend of $0.255 per common share, marking a 10.9% increase from the previous $0.23. The dividend will be paid on December 1, 2022, to shareholders on record as of the close of business on November 16, 2022. This decision reflects the Board's commitment to regularly review dividends each October, aiming for long-term increases. Payments for shareholders will be made in U.S. dollars for those in the DTC system and in Canadian dollars for those in the CDS system based on the Bank of Canada's exchange rate.