The earnings call conveyed a strong financial performance with record acquisition activity and improvements in employee retention, reinforcing a positive outlook for 2025. However, there were challenges related to commodity price declines and costs associated with the Chiquita landfill. Overall, the highlights significantly outweigh the lowlights.

Company Guidance

During the Q3 2024 earnings call for Waste Connections Inc. (WCN.TO), the company provided updated guidance and metrics reflecting strong operational performance. Core pricing growth was reported at 6.8%, while solid waste volumes improved by 90 basis points sequentially. The company achieved an adjusted EBITDA margin of 33.7%, marking a 120 basis point increase year-over-year. Waste Connections highlighted a record year for private company acquisitions, contributing over $700 million in annualized revenue. Employee retention improved significantly, with voluntary turnover down by over 40% from its peak in 2022. Looking ahead, the company raised its full-year revenue outlook to $8.9 billion and adjusted EBITDA to $2.91 billion, anticipating continued margin expansion and strategic growth into 2025.

Strong Financial Performance

Revenue of $2.338 billion, up 13.3% year-over-year. Adjusted EBITDA margin of 33.7%, up 120 basis points.

Record Acquisition Activity

Over $700 million in annualized private company revenue acquired, marking the largest year since the company's founding.

Employee Retention Improvements

Voluntary turnover improved for the eighth consecutive quarter, down more than 40% from its peak.

Operational Excellence in New York City

Acquisition of Royal Waste Services, becoming the largest fully-integrated player in New York City with 15 commercial zones.

Dividend Increase

Board of Directors authorized a 10.5% increase to the regular quarterly cash dividend.

Sustainability Achievements

Multiyear reductions of 40% in emissions intensity and 13% in absolute emission declines.

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Waste Connections (TSE:WCN) 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:WCN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 24, 2018	2018 (Q2)	- / 0.94	0.795	18.18% (+0.14)	―	―
Oct 29, 2018	2018 (Q3)	- / 1.00	0.867	15.00% (+0.13)	―	―
Feb 13, 2019	2018 (Q4)	- / 0.91	0.752	21.15% (+0.16)	―	―
Apr 24, 2019	2019 (Q1)	- / 0.90	0.809	10.71% (+0.09)	―	―
Jul 29, 2019	2019 (Q2)	- / 1.00	0.94	6.15% (+0.06)	―	―
Oct 28, 2019	2019 (Q3)	- / 1.06	0.997	5.80% (+0.06)	―	―
Feb 12, 2020	2019 (Q4)	- / 1.00	0.911	9.52% (+0.09)	―	―
May 06, 2020	2020 (Q1)	- / 0.94	0.896	4.84% (+0.04)	―	―
Aug 06, 2020	2020 (Q2)	- / 0.87	0.997	-13.04% (-0.13)	―	―
Oct 28, 2020	2020 (Q3)	- / 1.04	1.055	-1.37% (-0.01)	―	―

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

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TSE:WCN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 23, 2024	C$249.09	C$247.18	-0.77%
Jul 24, 2024	C$247.54	C$241.93	-2.27%
Apr 24, 2024	C$226.51	C$224.51	-0.88%
Feb 13, 2024	C$210.93	C$220.69	+4.62%

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.

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