Waste Connection Stock Price, News & Analysis

AMP Robotics Corp. has expanded its partnership with Waste Connections (NYSE: WCN), its largest customer, since late 2020. Waste Connections has deployed 50 of AMP's AI-driven robotics systems, solidifying its position as the leading operator in AI-guided robotics within the waste sector. The collaboration aims to enhance recycling efficiency, reduce costs, and elevate quality standards for recyclables. AMP's advanced technology improves the recovery of diverse materials, addressing the rising demand for high-quality recycled content.

On May 13, 2022, Waste Connections held its annual shareholder meeting where all proposed nominees were elected as directors. The election results show strong support for the nominees, with votes for Ronald J. Mittelstaedt at 95.71% and Larry S. Hughes at 99.89%. Additionally, shareholders approved the non-binding advisory compensation of executive officers and the appointment of Grant Thornton LLP as the independent auditor until 2023. Final results will be filed with the SEC and Canadian regulatory authorities.

Waste Connections has declared a quarterly cash dividend of $0.23 U.S. per common share, payable on June 1, 2022. Shareholders on record as of May 18, 2022 will be eligible for this dividend. Payments will be made in U.S. dollars for shares held by U.S. banks and in Canadian dollars for those held by Canadian banks, depending on the exchange rate. The Board plans to review dividends each October, aiming for long-term increases.

Waste Connections reported robust Q1 2022 results with a 17.9% revenue increase to $1.646 billion. Net income rose to $180.3 million or $0.69 per share, marking a 17.1% increase. Adjusted EBITDA was $502.1 million, representing 30.5% of revenue. The company's solid waste pricing grew by 7.1%, contributing to margin expansion despite inflation. With $440.9 million in cash from operations and successful acquisitions yielding $175 million in annualized revenue, Waste Connections is well-positioned for continued growth.

Waste Connections (WCN) has announced it will report its first-quarter 2022 financial results on May 3, 2022, after market close. An investor conference call will take place the following day at 8:30 A.M. Eastern Time. In addition, the company plans to participate in several upcoming industry conferences throughout the second quarter, including the Stifel Investor Summit and the RBC Canadian Auto, Transportation and Industrials Conference. More information is available on the company's investor relations website.

Waste Connections has priced an underwritten public offering of $500 million aggregate principal of its 3.200% Senior Notes due in 2032, at a public price of 99.925% of face value. The offering is set to close on March 9, 2022, with net proceeds estimated at $494.8 million, to be used for repaying borrowings under its revolving credit facility. Major underwriters include BofA Securities and J.P. Morgan. The offering is part of the company's effective shelf registration statement with the SEC.

Waste Connections (WCN) announced plans for a public offering of senior unsecured notes, subject to market conditions. The net proceeds will primarily be used to reduce borrowings under its revolving credit facility. The offering is managed by BofA Securities, J.P. Morgan, MUFG, and Wells Fargo Securities and will utilize an effective shelf registration statement previously filed with the SEC. While the notes are secured obligations, this move signals Waste Connections' strategy to improve its financial flexibility by addressing outstanding debt.

Waste Connections has declared a regular quarterly cash dividend of $0.23 per common share, payable on March 16, 2022, to shareholders on record as of March 2, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders. The Board plans to review the dividend each October, aspiring to increase it in the long term. Shareholders will receive payments in U.S. or Canadian dollars based on their registration with respective depositaries.

Waste Connections reported strong Q4 and full-year 2021 results, driven by price-led organic growth and acquisition activity. Q4 revenue surged to $1.624 billion, net income reached $166.3 million ($0.64 per share), and adjusted EBITDA was $495.4 million. For the full year, revenue increased by 13.0% to $6.151 billion, and net income climbed by 202.1% to $618.0 million ($2.36 per share). Expectations for 2022 project revenue of $6.875 billion, with continued double-digit growth and a commitment to shareholder returns.