NYSE$WCN
Waste Connections Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Waste Connections' first quarter performance was affected by COVID-19, but the company exceeded adjusted EBITDA outlook and delivered adjusted free cash flow of $235.7 million.
Waste Connections reported revenue of $1.352 billion, up 8.7% year-over-year. Net income attributable to Waste Connections was $143.0 million, or $0.54 per share. Adjusted net income was $170.6 million, or $0.65 per share. Adjusted EBITDA was $408.5 million, representing 30.2% of revenue. Adjusted free cash flow was $235.7 million, or 17.4% of revenue.
- Revenue increased by 8.7% to $1.352 billion.
- Net income attributable to Waste Connections was $143.0 million, or $0.54 per share.
- Adjusted net income attributable to Waste Connections was $170.6 million, or $0.65 per share.
- Adjusted free cash flow was $235.7 million, or 17.4% of revenue.
Headline financials
Revenue & EPS history
Waste Connections · Revenue · Quarterly
$1.35B
Revenue by segment
Waste Connections · $2.06B total across 5 segments · Q3 2023
- Solid Waste Collection$1.51B+10.5%73.0%
- Disposal & Transfer$418M+12.7%20.3%
- E&P Waste$58.5M+10.4%2.8%
- Intermodal & Other$44.9M-1.4%2.2%
- Solid Waste Recycling$35.1M-23.5%1.7%
Forward guidance
The financial impact of the COVID-19 outbreak and the pace of recovery remain uncertain. However, assuming that April reflects the depths of any impact, the company is encouraged that revenue on a reported basis for the month declined 6.0% year-over-year, or 1.4% excluding Canada and the Northeast U.S., which were hardest hit.
Tailwinds
- Solid waste trends have improved sequentially late in the month and into early May.
- A continuing economic recovery should reduce the revenue impact going forward.
- An approximate 20% reduction in budgeted capital expenditures for the year will help offset a portion of the high margin decremental and flow thru associated with pandemic-related decreases in commercial collection activity.
- Cost controls will help offset a portion of the high margin decremental and flow thru associated with pandemic-related decreases in commercial collection activity.
- Cost controls will help offset a portion of the high margin decremental and flow thru associated with transfer and landfill volumes and a reduction in E&P waste activity.
Headwinds
- The severity and duration of varying impacts across markets remains uncertain.
- The shape of any economic recovery remains uncertain.
- Any additional acquisitions completed during the year will influence the extent to which results are impacted.
- The ultimate impact of the COVID-19 outbreak on our business, results of operations, financial condition and cash flows will depend largely on future developments.
- How quickly and to what extent normal economic and operating conditions can resume is uncertain.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.4%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.3%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+8.1%
Q1 2026
Best reaction
-8.2%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +8.1% | +4.5% | -0.6% | |
| Q4 2025 | -8.2% | -6.1% | -3.0% | |
| Q3 2025 | +2.7% | +0.6% | +0.9% | |
| Q2 2025 | +0.0% | +0.6% | -4.7% | |
| Q1 2025 | +0.5% | -0.1% | +0.6% | |
| Q4 2024 | -0.6% | -1.2% | -2.5% | |
| Q3 2024 | -1.5% | -2.4% | +4.7% | |
| Q2 2024 | -2.9% | -2.7% | +3.2% | |
| Q1 2024 | -0.6% | -0.9% | -0.4% | |
| Q4 2023 | +6.3% | +8.7% | +9.6% | |
| Q3 2023 | -4.8% | -3.4% | -0.8% | |
| Q2 2023 | -1.5% | +0.2% | -2.5% | |
| Q1 2023 | -3.1% | -1.5% | -2.0% | |
| Q4 2022 | +1.2% | +1.1% | -0.2% | |
| Q3 2022 | +5.8% | +6.5% | +11.1% | |
| Q2 2022 | +2.7% | +4.7% | +5.5% | |
| Q1 2022 | -2.5% | -5.8% | -3.2% | |
| Q4 2021 | +0.7% | +1.2% | +15.5% | |
| Q3 2021 | +0.5% | +3.0% | +1.6% | |
| Q2 2021 | -1.2% | -1.8% | +2.9% | |
| Q1 2021 | +1.3% | +2.8% | +3.8% | |
| Q4 2020 | +1.3% | +0.4% | +4.6% | |
| Q3 2020 | -2.7% | -1.9% | +2.8% | |
| Q2 2020 | +0.7% | -1.6% | -2.0% | |
| Q1 2020 | +5.3% | +7.2% | +12.6% | |
| Q4 2019 | +3.1% | +4.1% | -11.0% | |
| Q3 2019 | +1.1% | +0.7% | -0.1% | |
| Q2 2019 | -3.3% | -5.0% | -3.8% | |
| Q1 2019 | +2.1% | +3.3% | +6.0% | |
| Q4 2018 | -4.6% | -2.5% | -0.6% | |
| Q3 2018 | +3.5% | +1.8% | +7.9% | |
| Q2 2018 | +1.7% | +0.8% | +1.6% | |
| Q1 2018 | +2.2% | +4.1% | +8.2% | |
| Q4 2017 | +0.7% | +3.6% | +7.3% | |
| Q3 2017 | +2.7% | +1.2% | -2.0% | |
| Q2 2017 | +3.3% | +1.8% | +1.3% | |
| Q1 2017 | +2.8% | +2.0% | +4.6% | |
| Q4 2016 | +3.7% | +4.5% | +3.9% | |
| Q3 2016 | -1.7% | -0.1% | +3.0% | |
| Q2 2016 | +3.2% | +5.0% | +6.8% | |
| Q1 2016 | +3.4% | — | — | |
| Q4 2015 | -1.4% | — | — | |
| Q3 2015 | -4.0% | — | — | |
| Q2 2015 | +2.1% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | -1.5% | — | — | |
| Q3 2014 | +2.2% | — | — | |
| Q2 2014 | +1.1% | — | — | |
| Q1 2014 | -0.0% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | -2.3% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | +3.9% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | -3.4% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q2 2012 | +2.0% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q4 2011 | +1.3% | — | — | |
| Q3 2011 | -5.4% | — | — | |
| Q2 2011 | -0.6% | — | — | |
| Q1 2011 | -3.4% | — | — | |
| Q3 2010 | -2.9% | — | — | |
| Q2 2010 | +6.9% | — | — | |
| Q1 2010 | -1.1% | — | — |
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