Waste Connections Inc. (NYSE:WCN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Waste Connections Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30.56% to $0.47 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 19.15% to $489.38 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Waste Connections Inc. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $481.88 million.
Quoting Management: “Favorable solid waste trends experienced earlier this year accelerated during the second quarter, resulting in revenue, adjusted EBITDA, and adjusted free cash flow all exceeding our expectations. Our solid waste business continues to benefit from an improving economy, with municipal solid waste volumes at our landfills showing the strongest year over year increases in several years, up approximately 14% in the second quarter. In addition, E&P waste activity played out about as expected in the period despite unusually wet weather in the Bakken,” said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer.
Key Stats (on next page)…