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Dec 31, 2021
Waste Connections Q4 2021 Earnings Report
Waste Connections reported Q4 2021 results, driven by organic growth and acquisition activity, exceeding expectations and providing a higher entry point into 2022.
Key Takeaways
Waste Connections reported Q4 2021 revenue of $1.624 billion, a net income of $166.3 million, and an adjusted EBITDA of $495.4 million. The company's strong performance was attributed to price-led organic growth, acquisition activity, and margin expansion.
Strong price-led organic growth and acquisition activity drove Q4 results above expectations.
Revenue reached $1.624 billion with a net income of $166.3 million.
Adjusted EBITDA was $495.4 million, representing 30.5% of revenue.
Net income and adjusted net income per share were $0.64 and $0.83, respectively.
Waste Connections
Waste Connections
Waste Connections Revenue by Segment
Revenue by Segment
Solid Waste Collection Revenue
CapyFin.comSolid Waste Disposal & Transfer Revenue
CapyFin.comSolid Waste Recycling Revenue
CapyFin.comE&P Waste Treatment Revenue
CapyFin.comIntermodal & Other Revenue
CapyFin.com Forward Guidance
Waste Connections provided its outlook for 2022, expecting revenue of approximately $6.875 billion and adjusted free cash flow of approximately $1.150 billion.
Positive Outlook
- Strong pricing growth.
- Acquisition growth.
- Continuing underlying margin expansion.
- Net income of approximately $846 million
- Adjusted EBITDA of approximately $2.145 billion, or about 31.2% of revenue
Challenges Ahead
- Excludes any impact from additional acquisitions that may close during the year.
- Excludes expensing of transaction-related items.
- Assumes no change in the current economic environment.
- Capital expenditures are expected to be up 14.2% to approximately $850 million, including $100 million for new landfill gas and resource recovery facilities
- Outlook is forward looking, and actual results may differ materially depending on risks and uncertainties
Revenue & Expenses
Visualization of income flow from segment revenue to net income