Waste Connections za poslední tři měsíce vzrostl o 8,6 % a překonal odvětví. V první polovině roku 2026 akvizice přidaly asi 100 milionů USD ročních výnosů.
Key Takeaways Waste Connections stock gained 8.6% in three months compared with the industry's 3.6% growth.WCN's H1 2026 acquisitions added about $100M in annualized revenues.WCN's adjusted free cash flow rose 24.7% y/y in Q2 2026 to $457.5M or 17.9% of revenues. Waste Connections, Inc. (WCN - Free Report) stock has gained 8.6% over the past three months, outperforming the industry’s 3.6% growth and the Zacks S&P 500 Composite's 1.1% return.
3-Month Share Price Performance
Image Source: Zacks Investment Research
Let us delve deeper into the factors that have contributed to the company’s outperformance.
Thriving Market Acts Like a Tailwind
Waste Connections is benefiting from an expanding global waste-management market, driven by rising waste generation, urbanization, stricter environmental regulations and increased adoption of recycling and waste-to-energy technologies. This tailwind has helped the company generate impressive second-quarter 2026 results. WCN’s Solid Waste Collection revenues increased 5.8% year over year to $1.78 billion. Solid Waste Disposal and Transfer revenues advanced 5.1% to $464.3 million. Its Exploration and Production (E&P) Waste Treatment, Recovery and Disposal revenues increased 18.3% to $201 million, while Intermodal and Other revenues rose 18.3% to $51.3 million during the same period. These results demonstrate the company’s potential to drive growth within the expanding market.
Acquisitions Remain Key Growth Catalyst for WCN
Acquisitions have been acting as a key growth driver for Waste Connections, providing platforms for service expansion and tuck-in deals. The company completed 13, 24 and 19 acquisitions in 2023, 2024 and 2025, contributing $410.9 million, $529 million and $377 million in revenues, respectively. First-half 2026 acquisitions added about $100 million in annualized revenues. Management expects an above-average acquisition year, while the 2026 guidance excludes future deals, providing potential upside.
Strong Cash Generation & Dividend Payments
WCN’s net cash provided by operating activities totaled $733.3 million in the second quarter, rising 14.9% year over year. The adjusted free cash flow increased 24.7% year over year to $457.5 million, representing 17.9% of revenues. The company paid out $177.1 million in dividends during the first half of 2026, with a quarterly dividend of 35 cents per share during the second quarter. This solid cash position and dividend payout indicate financial flexibility and the company’s shareholder-friendly policies.
WCN’s Zacks Rank & Stocks to ConsiderWaste Connections currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader Business Services sector are Bright Horizons Family Solutions Inc. (BFAM - Free Report) and CBIZ, Inc. (CBZ - Free Report) .
Bright Horizons Family Solutions carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 13.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BFAM delivered a trailing four-quarter earnings surprise of 7.6%, on average.
CBIZ also has a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 11.6%.
CBZ beat earnings estimates in three of the last four quarters and missed once, with an average earnings surprise of 8.9%.
Waste Connections ve 2. čtvrtletí překonala odhady: upravený zisk na akcii byl 1,50 USD a tržby 2,56 miliardy USD. Firma zároveň zvýšila výhled tržeb na 10,02–10,05 miliardy USD.
It has been about a month since the last earnings report for Waste Connections (WCN - Free Report) . Shares have added about 0.2% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Waste Connections due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Waste Connections, Inc. before we dive into how investors and analysts have reacted as of late.
Waste Connections Beats on Q2 EarningsWaste Connections reported impressive second-quarter 2026 results, wherein earnings and revenues outpaced the Zacks Consensus Estimates.
WCN reported second-quarter 2026 adjusted earnings of $1.50 per share, beating the Zacks Consensus Estimate of $1.35 by 11.1%. Earnings increased 16.3% from $1.29 in the year-ago quarter.
Revenues of $2.56 billion surpassed the consensus estimate of $2.53 billion by 1.1% and rose 6.4% year over year. Strong pricing and operational execution supported the results, although solid waste unit volumes declined 1.9%.
WCN's Solid Waste TrendsSolid waste internal growth was 3.6% in the quarter. Core price increased 5.6%, while yield, which reflects the average price per unit of service after customer and business-mix changes, improved 4.6%. Fuel and material surcharges contributed 1.1%.
Unit volumes fell 1.9%, reflecting sluggish construction activity and customer churn related partly to fuel surcharges. Roll-off pulls declined 2%, while rates per pull rose 5%. Landfill tons were nearly flat, as a 1% increase in construction and demolition volumes offset weaker special waste activity.
Waste Connections' Segmental RevenuesSolid Waste Collection revenues increased 5.8% year over year to $1.78 billion. Solid Waste Disposal and Transfer revenues advanced 5.1% to $464.3 million. These businesses benefited from pricing, while softer volumes limited organic growth.
Solid Waste Recycling revenues declined 8.1% to $61.4 million due to lower commodity values. E&P Waste Treatment, Recovery and Disposal revenues surged 18.3% to $201 million. Intermodal and Other revenues rose 18.3% to $51.3 million.
WCN's Margin & Cost PictureAdjusted EBITDA increased 6.8% year over year to $840.1 million. The adjusted EBITDA margin expanded 10 basis points to 32.8%. Underlying margin expansion was 70 basis points, driven partly by improved employee retention, safety performance and lower risk-management costs.
Fuel costs reduced the margin by approximately 40 basis points, while lower commodity values created a 20-basis-point drag. Management expects full-year core pricing of at least 5.5% and anticipates recovering elevated fuel expenses over time through surcharges.
Operating expenses increased 6.2% to $1.48 billion. Selling, general and administrative expenses rose 7.2% to $260.5 million. Reported operating income declined 4.8% to $437.6 million, reflecting $58.5 million in impairments and other operating items.
Waste Connections' Cash Flow & Balance SheetNet cash provided by operating activities totaled $733.3 million in the quarter compared with $638.2 million a year earlier. The adjusted free cash flow increased 24.7% to $457.5 million, representing 17.9% of revenues.
For the first six months of 2026, capital expenditure was $598.9 million. WCN also spent $614.5 million in share repurchases and $177.1 million in dividends. The company ended June with $98.2 million in cash and equivalents, and $9.28 billion in long-term debt.
Waste Connections' Growth InvestmentsThe company completed acquisitions representing approximately $100 million in annualized revenues during the first half. Another $30 million of exclusive-market franchise transactions was expected to close shortly, while management continued to anticipate an above-average acquisition year.
WCN’s artificial intelligence pricing tool has generated roughly $20 million in annualized EBITDA benefits. Management is also testing AI-based routing technology and developing customer-service tools. Across seven programs, Waste Connections expects its $100-million AI investment to ultimately produce $100 million in EBITDA improvement as implementation progresses through 2028 and 2029.
WCN’s 2026 OutlookWaste Connections raised its 2026 revenue outlook to $10.02-$10.05 billion. Adjusted EBITDA is projected between $3.33 billion and $3.34 billion, implying a margin of 33.2% to 33.3%.
The company maintained its adjusted free cash flow forecast of $1.4 billion to $1.45 billion, and capital expenditure projection of $1.25 billion. The outlook excludes acquisitions that may close during the remainder of the year.
How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.
VGM ScoresAt this time, Waste Connections has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Waste Connections has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Waste Connections získala souhlas TSX k roční obnově programu zpětného odkupu akcií. V příštích 12 měsících může odkoupit až 12 578 462 akcií, tedy 5 % vydaných a nesplacených akcií.
TORONTO--(BUSINESS WIRE)--Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today announced that it has received approval from the Toronto Stock Exchange (the “TSX”) for the annual renewal of its normal course issuer bid (the “NCIB”). The renewal will follow on the conclusion of the Company’s current NCIB expiring August 11, 2026 (the “2025 NCIB”).
Pursuant to the renewed NCIB, Waste Connections proposes to purchase through the facilities of the TSX, the New York Stock Exchange (the “NYSE”), NYSE Texas and/or alternative Canadian trading systems, from time to time over the next 12 months, if considered advisable, up to 12,578,462 common shares, being 5% of its 251,569,244 issued and outstanding common shares as of July 31, 2026.
In accordance with TSX rules, any daily repurchases would be limited to a maximum of 95,113 common shares, which represents 25% of the average daily trading volume on the TSX of 380,453 common shares for the period from February 1, 2026, to July 31, 2026, excluding any purchases made on the TSX under the 2025 NCIB. The TSX rules also allow the Company to purchase, once a week, a block of common shares not owned by any insiders, which may exceed such daily limit. The maximum number of shares which can be purchased per day on the NYSE and NYSE Texas will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase, subject to certain exceptions for block purchases.
Waste Connections is authorized to make purchases during the period of August 12, 2026, to August 11, 2027, or until such earlier time as the NCIB is completed or terminated at the option of the Company. Any common shares Waste Connections purchases under the NCIB will be purchased on the open market through the facilities of the TSX, the NYSE, NYSE Texas and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction.
Management’s decisions regarding any share repurchases will be based on market conditions, share price and other factors, including potential acquisition growth opportunities. The NCIB has been renewed because Waste Connections believes that the repurchase of common shares is consistent with its objective to return capital to shareholders over time. All common shares purchased through the NCIB will be cancelled.
Under the 2025 NCIB, the Company sought and obtained approval from the TSX to purchase up to 12,855,691 common shares for cancellation. As of August 6, 2026, the Company had purchased 6,103,527 common shares through the facilities of the NYSE under the 2025 NCIB.
About Waste Connections
Waste Connections (wasteconnections.com) is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, including by rail, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves approximately nine million residential, commercial and industrial customers in mostly exclusive and secondary markets across 46 states in the U.S. and six provinces in Canada. Waste Connections also provides nonhazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S. and Canada, as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. Waste Connections views its sustainability efforts as integral to its business, with initiatives consistent with its objective of long-term value creation and focused on reducing emissions, increasing resource recovery of both recyclable commodities and clean energy fuels, reducing reliance on off-site disposal for landfill leachate, further improving safety and enhancing employee engagement. Visit wasteconnections.com/sustainability for more information and updates on our progress towards targeted achievement.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (“PSLRA”), including “forward-looking information” within the meaning of applicable Canadian securities laws. These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections’ current beliefs and expectations regarding future events and operating performance. These forward-looking statements can be identified by use of forward-looking terminology, such as “believes,” “expects,” “intends,” “may,” “might,” “will,” “could,” “should,” or “anticipates,” or the negative thereof or comparable terminology, or by the discussions of strategy. All of the forward-looking statements included in this press release are made pursuant to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements about the return of capital to shareholders, including repurchases of common shares of the Company and management’s decisions related thereto. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, risk factors detailed from time to time in the Company’s filings with the SEC and the securities commissions or similar regulatory authorities in Canada. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Waste Connections undertakes no obligation to update the forward-looking statements set forth in this press release, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.
Dimensional Fund Advisors LP v 1. čtvrtletí zvýšil podíl ve Waste Connections o 19,7 % na 745 441 akcií. Firma zároveň oznámila čtvrtletní dividendu ve výši 0,35 USD na akcii.
Dimensional Fund Advisors LP grew its position in Waste Connections, Inc. (NYSE:WCN – Free Report) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,441 shares of the business services provider’s stock after buying an additional 122,829 shares during the quarter. Dimensional Fund Advisors LP owned 0.29% of Waste Connections worth $121,086,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of WCN. City Holding Co. purchased a new position in shares of Waste Connections in the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections during the 3rd quarter worth approximately $26,000. Transamerica Financial Advisors LLC increased its stake in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after buying an additional 135 shares during the period. Whipplewood Advisors LLC lifted its holdings in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after buying an additional 175 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.
Insider Activity at Waste Connections In related news, VP Patrick James Shea sold 7,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company’s stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 15,000 shares of company stock valued at $2,395,755. Corporate insiders own 0.27% of the company’s stock.
Waste Connections Stock Up 0.0% Shares of NYSE WCN opened at $169.63 on Tuesday. The company has a market capitalization of $42.80 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50-day moving average of $161.57 and a two-hundred day moving average of $163.18. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91.
Waste Connections (NYSE:WCN – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the firm posted $1.29 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Waste Connections, Inc. will post 5.6 earnings per share for the current fiscal year.
Waste Connections Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections’s payout ratio is currently 33.73%.
Analysts Set New Price Targets Several analysts have recently issued reports on WCN shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a report on Friday. JPMorgan Chase & Co. reduced their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Finally, Citigroup lifted their price objective on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.05.
Read Our Latest Stock Report on Waste Connections
Key Stories Impacting Waste Connections Here are the key news stories impacting Waste Connections this week:
Positive Sentiment: Waste Connections priced C$700 million of senior unsecured notes, including C$300 million of 4.200% notes due 2033. The long-term financing could support acquisitions, refinancing, or other corporate needs, while the relatively attractive cost of the 2033 tranche may help limit interest-expense pressure. Waste Connections Announces Pricing of C$700 Million of Senior Notes Positive Sentiment: Analysts highlighted Waste Connections’ strong second-quarter performance: adjusted earnings exceeded expectations, revenue increased year over year, margins expanded, cash flow remained robust, and the company raised its 2026 revenue outlook. These factors reinforce the company’s growth narrative. Is WCN Stock Worth Its Premium Valuation After Strong Q2 Results? Positive Sentiment: Waste Connections is using artificial intelligence to improve pricing and operations. AI-based pricing initiatives are generating approximately $20 million in annualized EBITDA gains, while routing tools could provide additional margin and efficiency benefits. How Waste Connections Is Using AI to Expand Margins and Future Growth Positive Sentiment: J.P. Morgan maintained a Buy rating, signaling continued confidence in WCN’s operating outlook and long-term growth prospects. J.P. Morgan Remains a Buy on Waste Connections Neutral Sentiment: The company’s earnings beat and outlook increase were partly offset by its premium valuation. With WCN trading at a high earnings multiple, investors may require continued strong execution before assigning the stock further upside. Waste Connections Stock Barely Moves Since Q2 Earnings Beat Negative Sentiment: Total collection volume declined 1.9% in the second quarter, raising concerns about fixed-cost absorption and potential operating deleverage. Strong pricing and construction-and-demolition volumes helped, but weaker overall volume remains a risk. Waste Connections: Better Margins, But Volume Trend Is Still Weak Negative Sentiment: The C$700 million notes offering adds debt and future interest obligations. This is manageable relative to the company’s scale but could constrain financial flexibility, particularly given its existing leverage and premium valuation. About Waste Connections (Free Report)
Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.
The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.
Recommended Stories Five stocks we like better than Waste Connections AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN – Free Report).
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Waste Connections zvýšila výhled tržeb pro rok 2026 na 10,02–10,05 miliardy USD po silném druhém čtvrtletí. Upravený zisk na akcii činil 1,50 USD a tržby 2,56 miliardy USD.
Key Takeaways Waste Connections beat Q2 estimates as earnings rose 16.3% y/y and revenues climbed 6.4%.Strong pricing offset a 1.9% drop in solid waste volumes and lifted adjusted EBITDA 6.8%.WCN raised its 2026 revenue outlook to $10.02-$10.05B and sees adjusted EBITDA growth to $3.34 billion. Waste Connections, Inc. (WCN - Free Report) reported impressive second-quarter 2026 results, wherein earnings and revenues outpaced the Zacks Consensus Estimates.
The stock price has not witnessed any significant impact of the earnings beat since the company released results on July 22.
WCN reported second-quarter 2026 adjusted earnings of $1.50 per share, beating the Zacks Consensus Estimate of $1.35 by 11.1%. Earnings increased 16.3% from $1.29 in the year-ago quarter.
Revenues of $2.56 billion surpassed the consensus estimate of $2.53 billion by 1.1% and rose 6.4% year over year. Strong pricing and operational execution supported the results, although solid waste unit volumes declined 1.9%.
Waste Connections shares have moved up 3.9% in the past three months, beating the industry's 2.7% increase and the Zacks S&P 500 composite’s 3.2% rally.
WCN's Solid Waste TrendsSolid waste internal growth was 3.6% in the quarter. Core price increased 5.6%, while yield, which reflects the average price per unit of service after customer and business-mix changes, improved 4.6%. Fuel and material surcharges contributed 1.1%.
Unit volumes fell 1.9%, reflecting sluggish construction activity and customer churn related partly to fuel surcharges. Roll-off pulls declined 2%, while rates per pull rose 5%. Landfill tons were nearly flat, as a 1% increase in construction and demolition volumes offset weaker special waste activity.
Waste Connections' Segmental RevenuesSolid Waste Collection revenues increased 5.8% year over year to $1.78 billion. Solid Waste Disposal and Transfer revenues advanced 5.1% to $464.3 million. These businesses benefited from pricing, while softer volumes limited organic growth.
Solid Waste Recycling revenues declined 8.1% to $61.4 million due to lower commodity values. E&P Waste Treatment, Recovery and Disposal revenues surged 18.3% to $201 million. Intermodal and Other revenues rose 18.3% to $51.3 million.
WCN's Margin & Cost PictureAdjusted EBITDA increased 6.8% year over year to $840.1 million. The adjusted EBITDA margin expanded 10 basis points to 32.8%. Underlying margin expansion was 70 basis points, driven partly by improved employee retention, safety performance and lower risk-management costs.
Fuel costs reduced the margin by approximately 40 basis points, while lower commodity values created a 20-basis-point drag. Management expects full-year core pricing of at least 5.5% and anticipates recovering elevated fuel expenses over time through surcharges.
Operating expenses increased 6.2% to $1.48 billion. Selling, general and administrative expenses rose 7.2% to $260.5 million. Reported operating income declined 4.8% to $437.6 million, reflecting $58.5 million in impairments and other operating items.
Waste Connections' Cash Flow & Balance SheetNet cash provided by operating activities totaled $733.3 million in the quarter compared with $638.2 million a year earlier. The adjusted free cash flow increased 24.7% to $457.5 million, representing 17.9% of revenues.
For the first six months of 2026, capital expenditure was $598.9 million. WCN also spent $614.5 million in share repurchases and $177.1 million in dividends. The company ended June with $98.2 million in cash and equivalents, and $9.28 billion in long-term debt.
Waste Connections' Growth InvestmentsThe company completed acquisitions representing approximately $100 million in annualized revenues during the first half. Another $30 million of exclusive-market franchise transactions was expected to close shortly, while management continued to anticipate an above-average acquisition year.
WCN’s artificial intelligence pricing tool has generated roughly $20 million in annualized EBITDA benefits. Management is also testing AI-based routing technology and developing customer-service tools. Across seven programs, Waste Connections expects its $100-million AI investment to ultimately produce $100 million in EBITDA improvement as implementation progresses through 2028 and 2029.
WCN’s 2026 OutlookWaste Connections raised its 2026 revenue outlook to $10.02-$10.05 billion. The Zacks Consensus Estimate is pinned at $10 billion. Adjusted EBITDA is projected between $3.33 billion and $3.34 billion, implying a margin of 33.2% to 33.3%.
The company maintained its adjusted free cash flow forecast of $1.4 billion to $1.45 billion, and capital expenditure projection of $1.25 billion. The outlook excludes acquisitions that may close during the remainder of the year.
WCN carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings SnapshotEquifax Inc. (EFX - Free Report) reported second-quarter 2026 adjusted earnings of $2.25 per share, up 12.5% year over year. The figure beat the Zacks Consensus Estimate of $2.21 by 1.8%.
Revenues increased 10.6% year over year to $1.7 billion and surpassed the consensus mark by a slight margin.
FactSet Research Systems Inc. (FDS - Free Report) posted third-quarter fiscal 2026 adjusted earnings of $4.53 per share, beating the Zacks Consensus Estimate of $4.44 by 2%. The figure increased 6.1% from the year-ago quarter.
Revenues of $622.9 million surpassed the consensus mark of $617.2 million by 0.9% and rose 6.4% year over year.
Waste Connections uvádí, že jeho nástroj pro cenotvorbu s využitím AI už přinesl asi 20 milionů USD v anualizovaném přínosu pro EBITDA. Firma zároveň plánuje investovat 100 milionů USD do sedmi programů s využitím AI s cílem zlepšit EBITDA o 100 milionů USD.
Key Takeaways Waste Connections' AI pricing tool has delivered about $20 million in annualized EBITDA benefits.WCN plans to invest $100 million across seven AI programs targeting $100 million in EBITDA improvement.Routing and customer-service tools need wider rollout, with implementation extending through 2028 and 2029. Waste Connections, Inc. (WCN - Free Report) is putting artificial intelligence to work in pricing, routing and customer service.
The investment case rests on whether these tools can move from pilots and early savings to recurring margin support, especially when labor availability, fuel costs and weaker commodity values can pressure waste-services profitability.
WCN Turns AI Pricing Into Measurable BenefitsWCN’s artificial intelligence pricing tool has already generated roughly $20 million in annualized EBITDA benefits. That is the clearest proof point in the company’s technology program because it has moved beyond planning and into measurable earnings contribution.
The pricing tool can help the company make better customer-level decisions. In a business where route density, contract structure and service mix affect profitability, data-driven pricing can strengthen yield and reduce revenue leakage.
Waste Connections Tests Smarter Route PlanningWaste Connections is also testing AI-based routing technology. The opportunity is straightforward. More efficient routes can reduce unnecessary miles, better match labor hours to service needs and improve collection productivity.
The program remains in development, so investors should avoid assigning full value to routing savings too early. WM (WM - Free Report) , formerly known as Waste Management, is North America’s leading provider of comprehensive environmental solutions, making operating efficiency a central issue across the industry.
WCN Builds a Broader AI Investment PlatformThe AI effort is larger than one pricing application. Across seven programs, WCN expects a planned $100 million AI investment to ultimately produce $100 million in EBITDA improvement.
Image Source: Zacks Investment Research
The timing matters. Implementation is expected to progress through 2028 and 2029, which means the earnings impact should be judged over several years rather than a single quarter.
Waste Connections Links Tech to Workforce GainsWCN’s technology push fits a broader operating culture built around safety, retention and local execution. The company has said it invests in technology to support leaders’ safety efforts and uses onboard event recording to identify risky behavior and reinforce best practices.
That operating discipline has produced tangible workforce-related gains. In 2025, Waste Connections reported a 13% reduction in incident rates and a 17% decline in voluntary turnover compared with the prior year. AI is best viewed as a productivity layer on top of that system, not a stand-alone growth engine.
WCN Must Prove Returns Across the BusinessThe risk is that planned savings arrive unevenly. Pricing benefits are already visible, but routing and customer-service tools still need broader deployment before they can be treated as dependable margin drivers.
The macro backdrop also matters. Management cited rapidly spiking fuel and related costs, along with ongoing drags from comparatively lower commodity values, even as adjusted EBITDA margin expanded to 32.8% in the second quarter. Republic Services, Inc. (RSG - Free Report) is another large environmental-services peer, so investors can compare how leading operators translate technology spending into margin durability.
Waste Connections Signals Favor the TrendThe bottom line is that WCN’s AI strategy has credible early evidence, but the full return case depends on execution through 2028 and 2029. Investors should track realized EBITDA gains, not just planned savings.
WCN also has a Momentum Score of A, Growth Score of B and VGM Score of B, which point to favorable momentum and growth characteristics. Still, the Value Score of C suggests valuation is less supportive, and some expected efficiency benefit may already be reflected in the stock.
WCN carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bank of Nova Scotia ve 1. čtvrtletí navýšila podíl ve Waste Connections o 19,3 % na 320 808 akcií za 52,1 mil. USD. Firma zároveň oznámila čtvrtletní EPS 1,50 USD a tržby 2,56 mld. USD.
Bank of Nova Scotia increased its position in Waste Connections, Inc. (NYSE:WCN – Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 320,808 shares of the business services provider’s stock after purchasing an additional 51,810 shares during the quarter. Bank of Nova Scotia owned approximately 0.13% of Waste Connections worth $52,112,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. City Holding Co. acquired a new position in Waste Connections during the fourth quarter worth approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections in the third quarter valued at approximately $26,000. Whipplewood Advisors LLC lifted its position in shares of Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Waste Connections during the 4th quarter worth approximately $36,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Waste Connections In other news, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the sale, the vice president owned 19,737 shares in the company, valued at $3,084,103.62. This represents a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,605 shares of company stock valued at $2,822,923 over the last three months. 0.27% of the stock is currently owned by company insiders.
Waste Connections Stock Up 0.9% Shares of NYSE:WCN opened at $169.52 on Friday. The company has a fifty day moving average of $161.36 and a 200-day moving average of $163.28. The company has a market capitalization of $42.78 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.69 and a current ratio of 0.66. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.91.
Waste Connections (NYSE:WCN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.
Waste Connections Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 6th. Waste Connections’s dividend payout ratio is presently 33.73%.
Analyst Upgrades and Downgrades Several equities research analysts have issued reports on WCN shares. JPMorgan Chase & Co. cut their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Citigroup increased their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and an average price target of $202.05.
Get Our Latest Stock Report on WCN
About Waste Connections (Free Report)
Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.
The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.
See Also Five stocks we like better than Waste Connections AMD and Cerbras Create A New Blueprint For Hardware Intel Earnings Reveal Whether the Chip Selloff Created a Buy CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test Plugging In: How Kinder Morgan Powers Up Profits Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN – Free Report).
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Waste Connections ve 2. čtvrtletí vykázala zisk 1,5 USD na akcii a tržby 2,56 miliardy USD, obojí nad odhady. Zisk meziročně vzrostl z 1,29 USD na akcii.
Waste Connections (WCN - Free Report) came out with quarterly earnings of $1.5 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +11.11%. A quarter ago, it was expected that this solid waste services provider would post earnings of $1.19 per share when it actually produced earnings of $1.23, delivering a surprise of +3.36%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Waste Connections, which belongs to the Zacks Waste Removal Services industry, posted revenues of $2.56 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.06%. This compares to year-ago revenues of $2.41 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Waste Connections shares have lost about 4% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for Waste Connections?While Waste Connections has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Waste Connections was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.51 on $2.59 billion in revenues for the coming quarter and $5.49 on $10 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Waste Removal Services is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Select Water Solutions, Inc. (WTTR - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +10%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Select Water Solutions, Inc.'s revenues are expected to be $365.9 million, up 0.5% from the year-ago quarter.
Waste Connections (WCN) za poslední měsíc vzrostla o 11,8 % a firma čeká růst tržeb o 5,7 % v roce 2026 a o 6,1 % v roce 2027. Zisk má stoupnout o 6,8 % a 12,4 %.
Key Takeaways WCN shares gained 11.8% in the past month, outpacing the industry's 9.7% rally.WCN expects revenues to rise 5.7% in 2026 and 6.1% in 2027, with earnings also growing.WCN's landfill tons rose 4%, aided by municipal solid waste and special waste volume gains. Shares of Waste Connections (WCN - Free Report) have gained 11.8% in the past month, outpacing the industry’s 9.7% rally.
WCN’s revenues in 2026 and 2027 are expected to increase 5.7% and 6.1% year over year, respectively. Earnings are anticipated to rise 6.8% in 2026 and 12.4% in 2027.
Factors That Augur Well for WCN’s SuccessMarket Expansion Support Top-Line Growth: Waste Connections is well-positioned to capitalize on the global waste management market's expansion. According to Grand View Research, the market is expected to see a 6% CAGR through 2033, reaching $2.4 trillion. The company accounts for an estimated 35% of total industry revenues, making it a major player with a significant market share.
Landfill Volume Drivers: Despite disruptions faced during winter, WCN witnessed a 4% increase in landfill tons, hinting at robust demand for volume moving into facilities. This growth can be attributed to a 5% rise in Municipal Solid Waste and an 8% hike in special waste tons. The first quarter of 2026 marks the sixth consecutive quarter of high special waste activity. This momentum hints at a construction demand that can benefit the company’s broader volumes in the future.
AI-Backed Tech Optimizes Operations: WCN’s AI-fueled pricing tool supported a nearly 20% year-over-year enhancement in customer retention and pricing efficiency while ensuring strong core pricing. This tool allows the company to incorporate price hikes efficiently, retaining customers for the long term and lowering returns. Management anticipates the complete deployment of AI initiatives to boost margins by 100 basis points heading into 2028.
Shareholder-Friendly Actions: Waste Connections consistently rewards its shareholders despite fluctuations in its cash position, underscoring its dedication to creating long-term value for investors. In 2023, 2024 and 2025, Waste Connections paid out $271 million, $302 million and $334 million in dividends, respectively. Consistent dividends demonstrate the company’s commitment to returning value to shareholders and support share prices.
Risks Faced by Waste ConnectionsHigh Competition: The regulated waste collection and disposal business is characterized by very low barriers to entry, allowing competitors to raise prices rapidly to gain market share. This capital-intensive industry includes larger and better-capitalized companies, which affects its ability to invest in substantial labor and capital resources.
Weak Liquidity: At the end of the first quarter of 2026, WCN’s current ratio was pegged at 0.69, lower than the industry average of 1.08. The 1.4% dip in the current ratio from the year-ago quarter due to a rise in accounts payable and a current ratio of less than 1 indicates that the company may have problems paying off its short-term obligations.
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Seasonality Hurts Revenues, Operating Risks High: WCN’s top-line is highly seasonal, with first-quarter revenues being the lowest. While revenues climb in the second and third quarters, fourth-quarter revenues are lower than the prior two quarters. The anticipated fluctuation between the highest and lowest quarters due to seasonality is around 10%. This is mainly due to the lower volume of solid waste generated during winter and early spring, owing to comparatively lesser construction and demolition activities, as well as reduced E&P activity.
WCN’s Zacks Rank & Stocks to ConsiderThe company has a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks from the broader Zacks Business Services sector are Ralliant Corporation (RAL - Free Report) and Pentair (PNR - Free Report) , currently flaunting a Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy), respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ralliant has a long-term earnings growth expectation of 8.4%. RAL delivered a trailing four-quarter earnings surprise of 8%, on average.
Pentair has a long-term earnings growth expectation of 11%. PNR delivered a trailing four-quarter earnings surprise of 3.7%, on average.
