You might also like
Waste Connections, Inc. (WCN) is the third-largest solid waste services company in North America, operating in 46 U.S. states and six Canadian provinces. The company specializes in non-hazardous waste management and resource recovery, offering a range of services to residential, commercial, industrial, and municipal customers. WCN sells waste collection, disposal, recycling services, and renewable energy products derived from waste management processes.
- Solid Waste Collection - Provides comprehensive waste collection services to residential, commercial, industrial, and municipal customers across North America.
- Solid Waste Disposal and Transfer - Operates waste transfer stations and landfills for efficient waste disposal and transfer operations.
- E&P Waste Treatment, Recovery, and Disposal - Offers treatment, recovery, and disposal services for non-hazardous waste generated by oil and gas exploration and production activities.
- Intermodal and Other Services - Facilitates rail haul movement of cargo and solid waste containers through a network of intermodal facilities.
- Solid Waste Recycling - Processes and markets recyclable materials such as cardboard, mixed paper, plastics, glass, and metals.
- Renewable Energy and Methane Gas - Generates revenue from the sale of methane gas and renewable energy credits produced at municipal solid waste landfills.
- Given the ongoing decline in solid waste volumes, even after adjusting for the closure of the Chiquita landfill, can you elaborate on the specific strategies you're implementing to reverse this trend and when you expect to see positive volume growth?
- Despite significant investments in renewable natural gas projects, with EBITDA contributions not expected until 2026 and beyond, how are you addressing potential risks of operational delays or cost overruns in these projects, and what contingency plans are in place?
- With substantial capital expenditures related to RNG projects and Chiquita in 2025, how do you plan to balance these investments with shareholder returns, such as potential share buybacks or dividend increases?
- You've indicated a 6% pricing increase, which is above the industry average, potentially risking customer retention; how are you managing the trade-off between higher pricing and potential volume losses, and what impact do you anticipate on market share?
- Considering the significant M&A activity and the associated integration challenges, what measures are you taking to ensure these acquisitions deliver the expected synergies and margin improvements, and how are you mitigating integration risks?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
One of the three publicly-held solid waste companies competing in the North America MSW services industry, requiring substantial labor and capital resources. | |
Another publicly-held solid waste company competing in the North America MSW services industry, focusing on collection, transfer, and disposal volume. | |
A publicly-held solid waste company that competes in the North America MSW services industry, emphasizing price and quality of services. | |
A competitor in certain markets for E&P waste in the U.S. and Canada, utilizing various disposal methods. | |
Secure Waste Infrastructure Corp. | Competes in specific geographic markets for E&P waste in the U.S. and Canada. |
Nuverra Environmental Solutions | A competitor in the E&P waste market, serving specific geographic regions. |
Trinity Environmental Services, LLC | Engages in competition for E&P waste disposal in certain U.S. and Canadian markets. |
Ecoserv, LLC | Competes in the E&P waste market, focusing on specific geographic areas. |
Oilfield Water Logistics LLC | A competitor in the E&P waste disposal market, operating in specific regions. |
Albright Flush Systems Ltd. | Competes in the E&P waste market, utilizing various disposal methods in specific geographic markets. |
Plains Environmental | Engages in competition for E&P waste disposal in certain markets. |
Catapult Environmental Inc. | A competitor in the E&P waste market, focusing on specific geographic areas. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
17 non-hazardous solid waste and 4 E&P waste treatment/disposal businesses | 2024 | Waste Connections acquired 17 individually immaterial non-hazardous solid waste businesses and 4 E&P waste treatment/disposal businesses with total transaction-related expenses of $25,169, aligning with its expansion strategy and anticipated synergies. |
14 non-hazardous solid waste and 2 E&P waste treatment/disposal businesses | 2024 | In Q2 2024, Waste Connections acquired 14 non-hazardous solid waste businesses and 2 E&P waste treatment/disposal businesses at a cost of $17,103 in transaction-related expenses, with results incorporated from the acquisition dates and goodwill recognized for synergy benefits. |
9 non-hazardous solid waste and 1 E&P waste treatment/disposal business | 2024 | The Q1 2024 acquisition involved 9 non-hazardous solid waste businesses and 1 E&P waste treatment/disposal business with transaction-related expenses of $9,847, supporting the company's growth through anticipated synergies. |
Nine non-hazardous solid waste and one E&P landfill | 2023 | During Q3 2023, Waste Connections acquired nine non-hazardous solid waste businesses and one E&P landfill for $7,014 in transaction-related expenses, integrating these operations to expand their market presence. |
Seven non-hazardous solid waste and one E&P landfill | 2023 | In Q2 2023, the acquisition of seven non-hazardous solid waste and one E&P landfill was completed with total transaction-related expenses of $3,905, contributing further to the company’s expansion strategy. |
Four non-hazardous solid waste businesses | 2023 | Waste Connections completed a Q1 2023 acquisition of four non-hazardous solid waste businesses with detailed consideration including $144,611 in cash, $17,097 in debt assumed, and recognized $36,853 of goodwill for anticipated synergies, along with identifiable assets totaling $124,855. |
Planned acquisition for additional $35 million annualized revenue | 2022 | Under a definitive agreement in Q3 2022, Waste Connections planned an acquisition expected to add $35 million in annualized revenue, targeting multi-market solid waste franchises and market expansions in several regions, with closing anticipated by year-end or early 2023. |
Multi-market solid waste acquisitions | 2022 | In Q3 2022, the company closed multi-market acquisitions contributing approximately $535 million in annualized revenue, enhancing its footprint in regions such as California, Oregon, Arizona, Texas, Pennsylvania, British Columbia, Quebec, and Massachusetts. |
12 acquisitions with approximately $245 million annualized revenue | 2022 | The Q2 2022 acquisitions, totaling 12 deals and approximately $245 million in annualized revenue, encompassed West Coast franchises, new market entries, and tuck-ins, reinforcing Waste Connections' double-digit revenue growth and margin expansion strategy. |
Acquisitions with approximately $175 million annualized revenue | 2022 | In Q1 2022, Waste Connections completed acquisitions generating about $175 million in annualized revenue across the U.S. and Canada, emphasizing a selective market approach and valuation discipline to ensure long-term value creation. |
No recent press releases or 8-K filings found for WCN.