Better Than Expected Third Quarter Results Drive Further Increases

Revenue and Earnings Beat Projections

Positive Outlook for Full Year 2024

Wow, what a quarter it has been for Waste Connections, Inc.! The company just released its third quarter results for 2024, and they are nothing short of impressive. Revenue soared to $2.338 billion, marking a solid 13.3% increase from the previous year. Net income reached $308.0 million, with adjusted EBITDA of $787.4 million, up 17.3% year over year. The adjusted EBITDA margin also saw a significant improvement, reaching 33.7%, up 120 basis points from last year. With net income per share at $1.19 and adjusted net income per share at $1.35, these results are truly remarkable.

Year to date net cash provided by operating activities amounted to $1.660 billion, with adjusted free cash flow of $1.044 billion. The company even increased its regular quarterly dividend by 10.5%, rewarding shareholders for their continued support. Waste Connections is also on track for acquisitions totaling over $700 million in annualized revenue, with a projected rollover revenue contribution of approximately 2% in 2025.

Given the outstanding performance in the third quarter, Waste Connections has raised its full year 2024 outlook to $8.9 billion of revenue, up $150 million from the original projection. The company now anticipates net income of $1.082 billion and adjusted EBITDA of $2.91 billion, both of which are $50 million higher than initially forecasted. This upward revision is a clear reflection of the company’s strength and resilience in the current market environment.

In a statement released by Waste Connections, Inc., they expressed their excitement about the positive results and the opportunities that lie ahead. The company is confident in its ability to deliver continued growth and value to its stakeholders, paving the way for a successful future ahead. With momentum building as they head into 2025, Waste Connections is well-positioned for even greater achievements in the coming years.

Impact on Me

As a consumer, you may benefit indirectly from Waste Connections, Inc.’s strong financial performance. The company’s success could lead to improved services, increased efficiency, and potentially better waste management solutions for communities. This could result in a cleaner, more sustainable environment for you and your family to enjoy.

Impact on the World

The positive results from Waste Connections, Inc. have broader implications for the world at large. As a leading waste management company, Waste Connections plays a crucial role in environmental stewardship and sustainability. By achieving strong financial results, the company is better positioned to invest in innovative solutions, reduce waste, and contribute to a greener future for our planet.

Conclusion

In conclusion, Waste Connections, Inc.’s better than expected third quarter results have set the stage for a promising future. With increased revenue, earnings, and an optimistic outlook for 2024, the company is on track for continued growth and success. As we look forward to the year ahead, Waste Connections remains a key player in the waste management industry, driving positive change and making a meaningful impact on both local communities and the global environment.