Waste Connections reports Q4 adjusted EPS $1.16, consensus $1.19

Reports Q4 revenue $2.26B, consensus $2.24B. “Q4 provided a solid finish to a year of extraordinary accomplishments for Waste Connections (WCN) both financially, with double-digit growth in both revenue and adjusted EBITDA, and operationally, with accelerating improvements in employee engagement and retention, along with the integration of record levels of private company acquisition activity, which totaled approximately $750M in annualized revenues in 2024,” said CEO Ronald Mittelstaedt. “Our differentiated results in 2024 include 100 basis points adjusted EBITDA margin expansion for industry-leading margin of 32.5% led by 7% solid waste core price complemented by outsized acquisition contribution,” added Mr. Mittelstaedt. “…We are well-positioned for another year of outsized growth in 2025 from price-led organic solid waste growth, with improving commodities and ongoing acquisition activity positioning us at or above the high end of our range of potential outcomes and normalized adjusted free cash flow in excess of $1.550B. With year-end leverage of less than 2.7 times, the strength of our balance sheet continues to provide tremendous optionality to fund outsized acquisition activity and invest in sustainability-related projects, along with an increasing return of capital to shareholders.”