Waste Connections

WCN

Market cap $44B

WCN shares fall 7% since fourth-quarter 2025 earnings topped estimates, as margin pressure, an operating loss and weaker recycling results weigh on sentiment.

Waste Connections delivered robust 2025 results, with strong revenue growth, expanding margins, and disciplined M&A execution despite volume headwinds. WCN expects 2026 organic solid waste growth of 3.5-4.0%, EBITDA margins expanding 30-40 bps, and double-digit free cash flow growth, underpinned by pricing and efficiency gains. AI-driven initiatives and a sizable M&A pipeline position WCN for continued long-term growth, capital returns, and margin expansion.

Waste Connections, Inc. (WCN) Q4 2025 Earnings Call Transcript

While the top- and bottom-line numbers for Waste Connections (WCN) give a sense of how the business performed in the quarter ended December 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Waste Connections (WCN) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.16 per share a year ago.

TORONTO--(BUSINESS WIRE)--Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today announced its results for the fourth quarter of 2025 and outlook for 2026. “Adjusted EBITDA(b) margin expansion of 110 basis points in the fourth quarter capped off a remarkable year for Waste Connections, driven by price-led organic growth in solid waste and strong execution from ongoing improvements in operating trends. For the full year 2025, we delivered industry-leading adjusted E.

TORONTO--(BUSINESS WIRE)--Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the "Company") today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.35 U.S. per common share of the Company. The regular quarterly cash dividend will be paid on March 12, 2026 to shareholders of record at the close of business on February 25, 2026. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount.

Besides Wall Street's top-and-bottom-line estimates for Waste Connections (WCN), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2025.

Waste Connections (WCN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Nobody wants a landfill in their backyard, which is exactly why the companies that own them print money.