SECURE Waste Infrastructure Corporation showed resilience and strategic progress despite facing significant challenges in their metals recycling segment and environmental disruptions. Strong shareholder returns, infrastructure investments, and sustainability achievements support a cautiously optimistic outlook.

Company Guidance -

Q3 2025

During the SECURE Waste Infrastructure Corporation's second-quarter 2025 conference call, the company maintained its 2025 guidance despite facing macroeconomic challenges, including U.S. steel tariffs and forest fires. Adjusted EBITDA for the quarter was $110 million, reflecting a 14% year-over-year increase on a per-share basis, although total adjusted EBITDA declined modestly. The company returned $286 million to shareholders through dividends and share repurchases, with $137 million from a substantial issuer bid and $104 million from a normal course issuer bid, repurchasing 7% of common shares. They reported revenue (excluding all purchase and resale) of $353 million, up 5% from Q2 2024, and a net income of $31 million, or $0.14 per share. For the full year, SECURE expects adjusted EBITDA between $510 million and $540 million, discretionary free cash flow of $270 to $300 million, growth capital of $125 million, sustaining capital of $85 million, and asset retirement obligation spend of $15 million. The company is optimistic about long-term fundamentals and anticipates stronger performance in the fourth quarter, driven by organic growth projects and expected recovery in the metals market.

Adjusted EBITDA Growth

Adjusted EBITDA was $110 million or $0.49 per share, reflecting a 14% year-over-year increase on a per share basis despite volatility.

Shareholder Returns

Returned $286 million to shareholders through dividends and share repurchases, including $137 million substantial issuer bid and $104 million in normal course issuer bid.

Infrastructure Expansion Projects

Completed Phase 3 expansion at Clearwater heavy oil terminal and advancing construction on two new water disposal facilities under 10-year contracts.

Sustainability Achievements

Exceeded 3-year GHG emission reduction target with an 18% reduction since 2021 and significant reductions in water use.

Strong Balance Sheet and Liquidity

Extended revolving credit facility to 2028 and increased its size to $900 million, maintaining a strong balance sheet with total debt-to-EBITDA ratio of 2x.

SECURE Waste Infrastructure (TSE:SES) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:SES Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.23 / -	0.39	―	―	―
Jul 29, 2025	2025 (Q2)	0.16 / 0.14	0.12	16.67% (+0.02)	―	―
May 02, 2025	2025 (Q1)	0.21 / 0.16	1.47	-89.12% (-1.31)	―	―
Feb 21, 2025	2024 (Q4)	0.22 / 0.14	0.2	-30.00% (-0.06)	―	―
Oct 30, 2024	2024 (Q3)	0.22 / 0.39	0.16	143.75% (+0.23)	―	―
Jul 30, 2024	2024 (Q2)	0.14 / 0.12	0.11	9.09% (<+0.01)	―	―
Apr 25, 2024	2024 (Q1)	0.15 / 1.47	0.18	716.67% (+1.29)	―	―
Feb 26, 2024	2023 (Q4)	0.19 / 0.20	0.1	100.00% (+0.10)	―	―
Nov 01, 2023	2023 (Q3)	0.18 / 0.16	0.19	-15.79% (-0.03)	―	―
Jul 27, 2023	2023 (Q2)	0.11 / 0.11	0.17	-35.29% (-0.06)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:SES Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	C$16.72	C$16.24	-2.87%
May 02, 2025	C$13.07	C$13.55	+3.67%
Feb 21, 2025	C$14.43	C$14.13	-2.08%
Oct 30, 2024	C$13.51	C$14.84	+9.84%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does SECURE Waste Infrastructure (TSE:SES) report earnings?

SECURE Waste Infrastructure (TSE:SES) is schdueled to report earning on Oct 29, 2025, After Close (Confirmed).

What is SECURE Waste Infrastructure (TSE:SES) earnings time?

SECURE Waste Infrastructure (TSE:SES) earnings time is at Oct 29, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:SES EPS forecast?

TSE:SES EPS forecast for the fiscal quarter 2025 (Q3) is 0.23.

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