NYSE$WCN
Waste Connections Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Waste Connections' Q4 2022 results were driven by price-led organic growth and acquisition activity, exceeding expectations and setting a higher entry point for 2023.
Waste Connections reported Q4 2022 revenue of $1.869 billion, net income of $194.4 million, and adjusted EBITDA of $563.6 million. The company's performance was driven by strong operational execution and solid waste pricing, along with acquisitions.
- Revenue reached $1.869 billion, exceeding expectations.
- Net income was reported at $194.4 million, or $0.75 per share.
- Adjusted EBITDA amounted to $563.6 million, representing 30.2% of revenue.
- Strong pricing and acquisition growth drove the results above expectations.
- Completed acquisitions with approximately $640 million of total annualized revenue in 2022
Headline financials
Revenue & EPS history
Waste Connections · Revenue · Quarterly
$1.87B
Revenue by segment
Waste Connections · $1.87B total across 5 segments · Q4 2022
- Solid Waste Collection$1.38B+18.3%73.8%
- Disposal & Transfer$365M+15.4%19.5%
- E&P Waste$52.6M+53.1%2.8%
- Intermodal & Other$46.8M+24.8%2.5%
- Solid Waste Recycling$25.5M-63.3%1.4%
Forward guidance
Waste Connections anticipates strong pricing and acquisition growth to drive double-digit percentage increase in revenue, and adjusted EBITDA margin expansion in 2023.
Tailwinds
- Revenue of approximately $8.05 billion, up 11.6%
- Net income of approximately $961 million
- Adjusted EBITDA of approximately $2.50 billion, or about 31.1% of revenue
- Strong pricing and acquisition growth
- Additional acquisitions, increases in recycled commodities and renewable fuels values, or reduction of inflationary pressures to provide upside to 2023 outlook
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 2022
+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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