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Waste Connections
🇨🇦 NYSE:WCN
•
Dec 31, 2024

Waste Connections Q4 2024 Earnings Report

Key Takeaways

Waste Connections reported strong revenue growth of 11.02% YoY in Q4 2024, reaching $2.26 billion. However, the company faced an operating loss of $199.19 million due to $601.57 million in impairments related to landfill closures. Adjusted EBITDA increased to $731.95 million, showing solid operational performance.

Total Revenue
$2.26B
Previous year: $2.04B
+11.0%
EPS
$1.16
Previous year: $1.11
+4.5%
Core Pricing Growth
6.7%
Previous year: 7%
-4.3%
SW Internal Growth - Volume
-3.2%
Previous year: -2.8%
+14.3%
SW Internal Growth - Surcharges
-0.5%
Previous year: -0.3%
+66.7%
Gross Profit
$936M
Previous year: $603M
+55.1%
Cash and Equivalents
$62.4M
Previous year: $78.4M
-20.5%
Free Cash Flow
$152M
Previous year: $223M
-31.6%
Total Assets
$19.8B
Previous year: $17.9B
+10.6%

Waste Connections Revenue

Waste Connections EPS

Waste Connections Revenue by Segment

Forward Guidance

Waste Connections expects revenue between $9.45B and $9.60B in 2025, with an adjusted EBITDA margin expansion up to 33.3%. The company anticipates higher free cash flow and continued acquisition-driven growth.

Positive Outlook

  • Revenue expected to grow up to 9.60B in 2025
  • Adjusted EBITDA margin projected to expand up to 33.3%
  • Continued acquisitions expected to drive growth
  • Improving commodity-driven revenues
  • Strong balance sheet with leverage below 2.7x

Challenges Ahead

  • Impairments and landfill closures could impact profitability
  • Volume declines in solid waste internal growth
  • Higher capital expenditures planned, impacting short-term cash flow
  • Potential fluctuations in recycling revenue
  • Macroeconomic uncertainties affecting demand

Revenue & Expenses

Visualization of income flow from segment revenue to net income