Waste Connections ( WCN )

President and Chief Executive Officer

CEO

Derek Tan

Senior Vice President and Chief Accounting Officer

James M. Little

Executive Vice President — Engineering and Disposal

Jason Craft

Executive Vice President and Chief Operating Officer

Mary Anne Whitney

Executive Vice President and Chief Financial Officer

Patrick J. Shea

Executive Vice President, General Counsel and Secretary

Board Members

Board of directors at Waste Connections.

Andrea E. Bertone

Director

Carl D. Sparks

Director

Cherylyn Harley LeBon

Director

Edward E. “Ned” Guillet

Director

Elise L. Jordan

Director

Michael W. Harlan

Chair of the Board

S“

Susan “Sue” Lee

Also covers: CAE, CNI, CP +4 more

Director

Analyst Coverage

Research analysts who have asked questions during Waste Connections earnings calls.

Konark Gupta

Scotiabank

6 questions for WCN

Noah Kaye

Oppenheimer & Co. Inc.

6 questions for WCN

Also covers: AAON, AMRC, BWA +16 more

James Schumm

TD Cowen

5 questions for WCN

Also covers: CLH, CWST, GFL +5 more

Kevin Chiang

CIBC Capital Markets

5 questions for WCN

Also covers: CAE, CNI, CP +5 more

Sabahat Khan

RBC Capital Markets

5 questions for WCN

Also covers: ACM, ATS, DE +10 more

Adam Bubes

Goldman Sachs Group, Inc.

4 questions for WCN

Also covers: ACM, CAMP, CLH +9 more

Chris Murray

ATB Capital Markets

4 questions for WCN

Also covers: GFL, STN

Jerry Revich

Goldman Sachs Group Inc.

4 questions for WCN

Also covers: AGCO, ALSN, ATMU +28 more

Trevor Romeo

William Blair

4 questions for WCN

Also covers: AMN, ASGN, CCRN +9 more

Bryan Burgmeier

Citigroup Inc.

3 questions for WCN

Also covers: AMBP, AVY, CLH +6 more

Tami Zakaria

JPMorgan Chase & Co.

3 questions for WCN

Also covers: ADM, AGCO, ALSN +24 more

Toni Kaplan

Morgan Stanley

3 questions for WCN

Also covers: ADT, ARMK, BFAM +18 more

Tyler Brown

Raymond James Financial, Inc.

3 questions for WCN

Also covers: CLH, CWST, MLM +7 more

Brian Butler

Stifel, Nicolaus & Company, Incorporated

2 questions for WCN

Also covers: CLH, CWST, GEF +8 more

Henry

Truist

2 questions for WCN

Patrick Brown

Raymond James

2 questions for WCN

Also covers: BLX, CLH, CWST +8 more

Seth Weber

Wells Fargo

2 questions for WCN

Also covers: ECL, HEES, RSG +1 more

Stephanie Moore

Jefferies

2 questions for WCN

Also covers: APG, ARCB, ARMK +30 more

Tony Bancroft

Gabelli Funds

2 questions for WCN

Also covers: CR, CW, CWST +4 more

William Grippin

UBS Group AG

2 questions for WCN

Also covers: AMRC, AY, BEP +8 more

Yehuda Silverman

Morgan Stanley

2 questions for WCN

Also covers: ADT, ARMK, BV +4 more

Henry Chien

Truist Securities

1 question for WCN

James Somerville

Eight Capital

1 question for WCN

Jasper Bibb

Truist Securities

1 question for WCN

Also covers: ABM, AMN, APEI +15 more

Michael Doumet

National Bank Financial

1 question for WCN

Also covers: GFL, NTR

Shlomo Rosenbaum

Stifel Financial Corp.

1 question for WCN

Also covers: DOX, FDS, IQV +3 more

Shlomo Rosenbaum

Stifel, Nicolaus & Company, Incorporated

1 question for WCN

Also covers: ARMK, CCC, CCCS +19 more

Stephanie Yee

JPMorgan Chase & Co.

1 question for WCN

Also covers: BFAM, ULS

Tobey Sommer

Truist Securities, Inc.

1 question for WCN

Also covers: AMN, AMTM, ASGN +26 more

Latest news

Recent press releases and 8-K filings for WCN.

Waste Connections Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Outlook

WCN

Earnings

Guidance Update

M&A

Waste Connections reported Q4 2025 revenue of $2.373 billion and Adjusted EBITDA of $796 million, achieving an Adjusted EBITDA margin of 33.5%, up 110 basis points year-over-year. For the full year 2025, the Adjusted EBITDA margin was 33%, up 100 basis points year-over-year (excluding lower commodities), with $1.26 billion in Adjusted free cash flow.
In 2025, the company completed approximately $330 million in acquired annualized revenue and returned over $830 million to shareholders through share repurchases and an 11.1% increase in the quarterly dividend.
Waste Connections provided a 2026 outlook estimating revenue in the range of $9.9 billion-$9.95 billion, Adjusted EBITDA between $3.30 billion-$3.325 billion, and Adjusted free cash flow of $1.4 billion-$1.45 billion. The outlook projects an Adjusted EBITDA margin of 33.3%-33.4% and solid waste organic growth of 3.5%-4%.

Feb 12, 2026, 1:30 PM

Waste Connections reports Q4 2025 outlook and 2026 preliminary framework

WCN

Earnings

M&A

Guidance Update

Waste Connections is on track to achieve its full-year 2025 outlook, projecting $9.45 billion in revenue, $3.12 billion in Adjusted EBITDA, and an Adjusted EBITDA Margin of 33.0%.
The company completed approximately $300 million of annualized revenue in acquisitions year-to-date and maintains a low leverage of 2.7x.
Waste Connections returned capital to shareholders with $442 million in share repurchases year-to-date and an 11.1% increase in its dividend in October.
For 2026, the preliminary framework includes mid-single digit revenue growth, normalized Adjusted EBITDA margin expansion, and improving Free Cash Flow conversion.

Feb 12, 2026, 1:30 PM

Presentation

Waste Connections Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Outlook

WCN

Earnings

Guidance Update

New Projects/Investments

Waste Connections reported Q4 2025 revenue of $2.373 billion and full-year 2025 Adjusted EBITDA of $3.125 billion, achieving an Adjusted EBITDA margin of 33% for the full year.
For full-year 2025, the company completed approximately $330 million of acquired annualized revenue and returned over $830 million to shareholders through share repurchases and dividends, with the quarterly per share dividend increasing by 11.1%.
The 2026 outlook projects revenue in the range of $9.9 billion to $9.95 billion and Adjusted EBITDA between $3.30 billion and $3.325 billion, with an Adjusted EBITDA margin of 33.3%-33.4%.
Adjusted Free Cash Flow for 2026 is expected to increase by double-digit percentages to a range of $1.4 billion to $1.45 billion, with capital expenditures estimated at $1.25 billion.
The company is investing in sustainability-related projects, including RNG facilities and a new recycling facility, and AI technology-driven initiatives focused on dynamic real-time customer routing and mobile connectivity to enhance efficiency and productivity.

Feb 12, 2026, 1:30 PM

Waste Connections Reports Strong Q4 and Full Year 2025 Results, Provides Positive 2026 Outlook

WCN

Earnings

Guidance Update

New Projects/Investments

Waste Connections reported Q4 2025 revenue of $2.373 billion and adjusted EBITDA of $796 million, an 8.7% increase year-over-year, with an adjusted EBITDA margin of 33.5%. For the full year 2025, the company delivered an industry-leading adjusted EBITDA margin of 33%.
The company provided a 2026 outlook, estimating revenue between $9.9 billion and $9.95 billion and adjusted EBITDA in the range of $3.300 billion to $3.325 billion.
Adjusted free cash flow is projected to increase by double-digit percentages in 2026, reaching $1.4 billion to $1.45 billion.
In 2025, Waste Connections returned over $830 million to shareholders through share repurchases and dividends, including an 11.1% increase in the quarterly per share dividend. The company also completed approximately $330 million of acquired annualized revenue.
Strategic investments include five renewable gas (RNG) facilities already online with the remainder expected by year-end 2026, projected to contribute $100 million to $120 million in EBITDA when fully operational, and an ongoing multi-year rollout of AI technology.

Feb 12, 2026, 1:30 PM

Waste Connections Reports Fourth Quarter and Full Year 2025 Results and Provides 2026 Outlook

WCN

Earnings

Guidance Update

Share Buyback

Waste Connections reported Q4 2025 revenue of $2.373 billion and adjusted EBITDA of $795.6 million, with an adjusted EBITDA margin of 33.5%.
For the full year 2025, the company achieved revenue of $9.467 billion and adjusted EBITDA of $3.125 billion, completing acquisitions with approximately $330 million in annualized revenue and returning $839.3 million to shareholders.
The company provided a 2026 revenue outlook in the range of $9.90 billion to $9.95 billion and adjusted EBITDA in the range of $3.300 billion to $3.325 billion.
Waste Connections anticipates double-digit growth in adjusted free cash flow for 2026, with an estimated range of $1.40 billion to $1.45 billion.

Feb 11, 2026, 9:10 PM

8-K

Waste Connections Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook

WCN

Earnings

Guidance Update

M&A

For the fourth quarter of 2025, Waste Connections reported revenue of $2.373 billion and adjusted EBITDA of $795.6 million, resulting in an adjusted EBITDA margin of 33.5%.
Full year 2025 results included revenue of $9.467 billion, net income of $1.077 billion, and adjusted EBITDA of $3.125 billion. The company also completed acquisitions with approximately $330 million in annualized revenue and returned $839.3 million to shareholders.
For 2026, Waste Connections anticipates revenue in the range of $9.90 billion to $9.95 billion, net income between $1.223 billion and $1.238 billion, and adjusted EBITDA from $3.300 billion to $3.325 billion.
The company also expects net cash provided by operating activities for 2026 to be in the range of $2.65 billion to $2.70 billion and adjusted free cash flow to be between $1.40 billion and $1.45 billion, representing double-digit growth.

Feb 11, 2026, 9:05 PM

Press Release

Waste Connections Reports Strong Q3 2025 Results, Boosts Dividend, and Continues M&A

WCN

Earnings

M&A

Dividends

Waste Connections reported strong Q3 2025 financial results, with revenue of $2.458 billion, a 5.1% year-over-year increase, and adjusted EBITDA of $830.3 million, up 5.4% year over year, achieving a 33.8% margin.
The company achieved 80 basis points of underlying solid waste margin expansion, supported by a 55% reduction in voluntary employee turnover from its peak and over 25% reduction in safety incident rates ,.
Strategic growth continued with approximately $300 million in annualized revenues from acquisitions either closed or under definitive agreement year to date, while shareholder returns were enhanced by an 11.1% increase in the regular quarterly cash dividend and the repurchase of approximately 2.4 million shares.
For 2026, the preliminary outlook anticipates mid-single-digit revenue growth and continued above-average underlying solid waste margin expansion, with improved conversion of adjusted EBITDA to adjusted free cash flow.

Oct 22, 2025, 12:30 PM

Waste Connections Reports Third Quarter 2025 Results

WCN

Earnings

Dividends

Share Buyback

Waste Connections reported Q3 2025 revenue of $2.458 billion and adjusted EBITDA of $830.3 million, both exceeding expectations.
Adjusted net income attributable to Waste Connections was $372.0 million, or $1.44 per diluted share for Q3 2025.
The company increased its regular quarterly dividend by 11.1% and completed share repurchases of approximately 1% of shares outstanding.
Acquisitions year-to-date totaled approximately $300 million in annualized revenue.
The full year 2025 outlook remains unchanged.

Oct 21, 2025, 8:23 PM

8-K

Waste Connections Announces 11.1% Increase in Quarterly Dividend

WCN

Dividends

Waste Connections, Inc. (WCN) announced an 11.1% increase in its regular quarterly cash dividend.
The quarterly cash dividend will increase from $0.315 U.S. per common share to $0.35 U.S. per common share.
This increased dividend will be paid on November 20, 2025, to shareholders of record on November 5, 2025.
The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount.

Oct 21, 2025, 8:17 PM

Press Release

Waste Connections Reports Third Quarter 2025 Results

WCN

Earnings

Dividends

Share Buyback

Waste Connections reported revenue of $2.458 billion for the third quarter of 2025, exceeding expectations.
Net income for Q3 2025 was $286.3 million, or $1.11 per diluted share, while adjusted net income was $372.0 million, or $1.44 per diluted share.
Adjusted EBITDA for the third quarter of 2025 was $830.3 million, with an Adjusted EBITDA margin of 33.8% of revenue, both above expectations.
The company increased its regular quarterly dividend by 11.1% and completed share repurchases of approximately 1% of shares outstanding.
Waste Connections has closed or has under definitive agreement approximately $300 million in annualized revenue from acquisitions year to date, and there is no change to its full year 2025 outlook as provided in July.

Oct 21, 2025, 8:15 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Waste Connections.

Q4 2025

Feb 12, 2026

Q3 2025

Oct 22, 2025

Q2 2025

Jul 24, 2025

Q1 2025

Apr 24, 2025