Waste Connection Stock Price, News & Analysis

Waste Connections reported robust Q3 2022 results with revenue of $1.880 billion, a 17.7% increase year-over-year. Net income reached $236.9 million, translating to $0.92 per share. The company achieved an adjusted EBITDA of $588.1 million, a 16.3% rise, resulting in a 31.3% EBITDA margin. Year-to-date, operating cash flow hit $1.500 billion with $929 million in adjusted free cash flow. Additionally, a 10.9% dividend increase was announced. The outlook for 2022 remains positive with expectations for continued revenue growth and margin expansion.

AMP Robotics Corp. has successfully raised $91 million in a Series C financing round, led by Congruent Ventures and Wellington Management. This follows a $55 million Series B financing completed in January 2021. The funding will be used to modernize and expand AMP’s recycling infrastructure, particularly enhancing manufacturing capabilities to support a fleet of approximately 275 robots globally. The recycling industry contributes nearly $117 billion to the U.S. economy, and AMP aims to improve recycling systems economically through its AI-powered technology.

Waste Connections has announced that it will release its third quarter 2022 financial results on November 2, 2022, post-market close. An investor conference call is scheduled for November 3, 2022, at 8:30 A.M. Eastern Time. During this call, executives will discuss the results and answer questions. Additionally, the company will participate in the BMO Growth and ESG Conference on December 7, 2022. Stakeholders can access the conference call via webcasting and will have the option to preregister.

Waste Connections, Inc. (WCN) has received approval from the Toronto Stock Exchange for the annual renewal of its normal course issuer bid (NCIB). This allows the company to repurchase up to 12,859,066 common shares, or 5% of its outstanding shares, over the next 12 months starting August 10, 2022. The repurchase decisions will be influenced by market conditions and potential growth opportunities. The previous NCIB resulted in the cancellation of 3,645,987 shares at an average price of $125.70.

Waste Connections has priced a public offering of $750 million in senior notes with a 4.200% interest rate, set to mature in 2033. The offering is expected to close on August 18, 2022, pending customary conditions. Net proceeds, estimated at $741 million, will be allocated to repay borrowings under its revolving credit facility. The offering is facilitated by BofA Securities, J.P. Morgan, MUFG, and Wells Fargo as underwriters. This issuance aligns with Waste Connections' commitment to maintaining financial stability.

Waste Connections (WCN) announced plans for a public offering of senior unsecured notes, subject to market conditions. The proceeds from this offering will be used to repay a portion of its revolving credit facility. BofA Securities, J.P. Morgan, MUFG, and Wells Fargo Securities are acting as underwriters. The offering is made pursuant to an effective registration statement filed with the SEC. Waste Connections, an integrated solid waste services provider, serves over eight million customers across the U.S. and Canada.

Waste Connections has declared a quarterly cash dividend of $0.23 U.S. per common share, payable on September 1, 2022, to shareholders recorded by August 18, 2022. This decision reflects the Board's intention to review dividends each October, aiming for long-term increases. Shareholders with broker-held shares will receive dividends in U.S. dollars, while those in Canada will receive payments in Canadian dollars based on the Bank of Canada's exchange rate on the record date.

Waste Connections reported Q2 revenue of $1.816 billion, up 18.4% year-over-year, with a net income of $224.1 million, or $0.87 per share. Adjusted EBITDA was $566.8 million, reflecting a 31.2% margin. For the year-to-date, net cash from operations reached $973.7 million. The company increased its full-year outlook to approximately $7.125 billion in revenue and $2.190 billion in adjusted EBITDA. Strong solid waste pricing growth of 8.8% and a robust acquisition pipeline are contributing factors.