NYSE$WCN
Waste Connections Inc · Q4 2019 earnings
Q4 2019 earnings · · Investor relations
Briefing
Waste Connections' Q4 2019 results exceeded expectations due to solid waste price growth, E&P waste activity, and acquisition contributions.
Waste Connections reported Q4 2019 revenue of $1.362 billion, a 7.9% increase year-over-year. Net income attributable to Waste Connections was $133.3 million, or $0.50 per share, while adjusted net income was $181.4 million, or $0.69 per share. Adjusted EBITDA reached $419.0 million, representing 30.8% of revenue. The company expects revenue in the range of $5.725 billion to $5.775 billion for 2020.
- Q4 revenue increased by 7.9% to $1.362 billion.
- Net income attributable to Waste Connections was $133.3 million, or $0.50 per share.
- Adjusted net income attributable to Waste Connections was $181.4 million, or $0.69 per share.
- Adjusted EBITDA was $419.0 million, representing 30.8% of revenue.
Headline financials
Revenue & EPS history
Waste Connections · Revenue · Quarterly
$1.36B
Revenue by segment
Waste Connections · $1.36B total across 5 segments · Q4 2019
- Solid Waste Collection$972M—71.4%
- Disposal & Transfer$283M—20.8%
- E&P Waste$62.5M—4.6%
- Intermodal & Other$30.5M—2.2%
- Solid Waste Recycling$13.2M—1.0%
Forward guidance
Waste Connections provided its outlook for 2020, excluding impacts from additional acquisitions. Revenue is estimated in the range of $5.725 billion to $5.775 billion. Net income attributable to Waste Connections is estimated in the range of $653.0 million to $668.0 million. Adjusted EBITDA is expected to be in the range of $1.760 billion to $1.785 billion.
Tailwinds
- Solid waste price growth of approximately 5.0%
- Net income attributable to Waste Connections is estimated in the range of $653.0 million to $668.0 million
- Adjusted EBITDA is estimated in the range of $1.760 billion to $1.785 billion
- Net cash provided by operating activities is estimated in the range of $1.600 billion to $1.625 billion
- Adjusted free cash flow is estimated in the range of $975.0 million to $1.0 billion
Headwinds
- Assumes no change in the current economic environment
- Outlook excludes any impact from additional acquisitions that may close during the year, and expensing of transaction-related items.
- E&P waste revenue down approximately 10.0%
- Values for recycled commodities and renewable energy credits as of year-end 2019
- Certain components of the outlook for 2020 are subject to quarterly fluctuations.
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 Q4 2019
+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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