AI Earnings Predictions for Waste Connections Inc. (WCN)

EX-99.1

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EX-99.1

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Exhibit 99.1

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WASTE CONNECTIONS REPORTS THIRD QUARTER 2026 RESULTS AND RAISES FULL YEAR OUTLOOK

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-Strong execution, improving solid waste landfill volumes and further strength in commodity-related revenues drive outsized results and another increase to full year outlook

-Revenue of $2.638 billion, exceeding expectations

-Net income of $359.2 million, and adjusted EBITDA* of $895.8 million, or 34.0% of revenue, above expectations

-Net income and adjusted net income* of $1.43 and $1.58 per share, respectively

-Year to date closed acquisitions of approximately $130 million in annualized revenues

-Increases regular quarterly dividend by 10% and completes year to date share repurchases of over $1 billion

-Second increase to full year 2026 outlook for revenue and adjusted EBITDA*

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THE WOODLANDS, TX, October 21, 2026 - Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today announced its results for the third quarter of 2026.

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"Another top to bottom beat in the period was driven by continued strength in operational execution along with improving trends in landfill activity and commodity-driven revenue.  Sequential improvement of 70 basis points in solid waste unit volumes was led by an uptick in landfill volumes, with operating results continuing to reflect the benefits of elevated employee retention and record safety performance,” said Ronald J. Mittelstaedt, President and Chief Executive Officer.

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"Most importantly, we overcame a late quarter surge in diesel pricing to deliver adjusted EBITDA margin* of 34% on underlying margin expansion of 50 basis points,” continued Mr. Mittelstaedt.  “Our performance puts us firmly on track to exceed the increased full year 2026 outlook we provided in July for revenue and adjusted EBITDA*, and we remain positioned to deliver double-digit growth in adjusted free cash flow* of at least $1.4 billion.  Additional acquisitions completed later this year, and further improvement in E&P waste activity or other commodity-driven revenues, would provide incremental benefit."

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Mr. Mittelstaedt continued, "As anticipated, the strength of our operating performance, free cash flow generation and balance sheet positioned us for another double-digit annual increase in our quarterly cash dividend, our sixteenth in a row.  Additionally, we continued our opportunistic share repurchases, bringing year to date outlays to over $1 billion for 2.5% of outstanding shares, demonstrating once again our ability to fund our differentiated growth strategy and acquisition activity, along with record return of capital to shareholders."

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Q3 2026 Results

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Revenue in the third quarter totaled $2.638 billion, up from $2.458 billion in the year ago period.  Operating income was $541.7 million, which included $3.0 million in transaction-related expenses and $1.9 million in impairments and other operating items, partially offset by $0.6 million associated with fair value changes to equity awards.  This compares to operating income of $439.6 million in the third quarter of 2025 that included $63.5 million primarily from the write-down of contracts and a non-operating E&P waste facility permit, an environmental liability at an operating facility and transaction-related expenses.  Net income in the third quarter was $359.2 million, or $1.43 per share on a diluted basis of 251.9 million shares.  In the year ago period, the Company reported net income of $286.3 million, or $1.11 per share on a diluted basis of 257.6 million shares.

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Adjusted net income* in the third quarter was $398.9 million, or $1.58 per diluted share, versus $372.0 million, or $1.44 per diluted share, in the prior year period.  Adjusted EBITDA* in the third quarter was $895.8 million, as compared to $830.3 million in the prior year period.  Adjusted net income, adjusted net income per diluted share and adjusted EBITDA, all non-GAAP measures, primarily exclude impairments and acquisition-related items, as reflected in the detailed reconciliations in the attached tables.

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Nine Months Year to Date Results

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For the nine months ended September 30, 2026, revenue was $7.570 billion, up from $7.094 billion in the year ago period.  Operating income was $1.343 billion, which included $139.9 million from impairments and other operating items and $13.0 million in transaction-related expenses, partially offset by $1.8 million associated with fair value changes to equity awards.  This compares to operating income in the prior year period of $1.289 billion, which included $70.6 million from impairments and other operating items and $20.3 million primarily attributable to transaction-related expenses and fair value changes to equity awards.

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Net income for the nine months ended September 30, 2026 was $875.0 million, or $3.45 per share on a diluted basis of 253.9 million shares.  In the year ago period, the Company reported net income of

EX-99.1

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EX-99.1

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Exhibit 99.1

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WASTE CONNECTIONS REPORTS SECOND QUARTER 2026 RESULTS AND

RAISES FULL YEAR OUTLOOK

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-Better than expected results drive increase to full year 2026 outlook, with upside from improving commodities and ongoing acquisition activity

-Revenue of $2.562 billion, above expectations and up 6.4%

-Net income of $296.4 million, or $1.17 per share, adjusted net income* of $381.7 million, or $1.50 per share

-Adjusted EBITDA* of $840.1 million, above expectations and up 6.8%

-Adjusted EBITDA* margin of 32.8% of revenue

-Record year-to-date share repurchases of $614.5 million, or approximately 1.5% of shares outstanding

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TORONTO, ONTARIO, July 22, 2026 - Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today announced its results for the second quarter of 2026 and raised its outlook for the full year.

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“We are extremely pleased to deliver results above expectations, led primarily by strong operational execution driving a top-to-bottom beat in the second quarter.  Most notably, adjusted EBITDA* margin expanded to 32.8% on 70 basis points of underlying margin expansion overcoming cost pressures primarily from rapidly spiking fuel and related costs, as well as ongoing drags from comparatively lower commodity values,” said Ronald J. Mittelstaedt, President and Chief Executive Officer.  "Our outperformance, in spite of ongoing geopolitical instability and the associated uncertainty, is a reflection of our differentiated strategy and a purposeful culture, both of which will continue to set us apart."

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“Our achievements in the first half of 2026, with recent commodity values and ongoing fuel cost recovery, plus contributions from acquisitions closed to date, position us to increase our full year outlook to revenue of $10.02 billion to $10.05 billion and adjusted EBITDA* of $3.33 billion to $3.34 billion, with upside from improving trends in commodities and contributions from incremental acquisitions.”

Mr. Mittelstaedt added, “Along with a record amount of share repurchases, we’ve completed acquisitions with over $100 million in annualized revenue and remain well-positioned for another outsized year of activity.  The enduring strength of our balance sheet and free cash flow generation once again demonstrates our ability to fund our growth strategy while increasing our return of capital to shareholders.”

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Q2 2026 Results

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Revenue in the second quarter totaled $2.562 billion, up from $2.407 billion in the year ago period.  Operating income was $437.6 million, which included $58.5 million primarily attributable to impairments related to adjustments to landfill closure and post closure costs and $7.9 million primarily in transaction-related expenses.  This compares to operating income of $459.5 million in the second quarter of 2025, which included $7.3 million primarily in impairments and other operating items and transaction-related expenses.  Net income in the second quarter was $296.4 million, or $1.17 per share on a diluted basis of 253.9 million shares.  In the year ago period, the Company reported net income of $290.3 million, or $1.12 per share on a diluted basis of 259.0 million shares.

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Adjusted net income* in the second quarter was $381.7 million, or $1.50 per diluted share, versus $333.1 million, or $1.29 per diluted share, in the prior year period.  Adjusted EBITDA* in the second quarter was $840.1 million, as compared to $786.4 million in the

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prior year period.  Adjusted net income, adjusted net income per diluted share and adjusted EBITDA, all non-GAAP measures, primarily exclude impairments and acquisition-related items, as reflected in the detailed reconciliations in the attached tables.

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Six Months Year to Date Results

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For the six months ended June 30, 2026, revenue was $4.932 billion, up from $4.635 billion in the year ago period.  Operating income, which included $138.0 million primarily attributable to adjustments to landfill closure and post closure costs, $9.9 million in transaction-related expenses, partially offset by $1.3 million in fair value changes to equity awards, was $801.6 million, as compared to operating income of $849.8 million in the prior year period, which included $27.5 million primarily attributable to transaction-related expenses and impairments and other operating items.

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Net income for the six months ended June 30, 2026 was $515.7 million, or $2.02 per share on a diluted basis of 254.9 million shares.  In the year ago period, the Company reported net income of $531.8 million, or $2.05 per share on a diluted basis of 258.9 million shares.

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Adjusted net income* for the six months ended June 30, 2026 was $696.6 million, or $2.73 per diluted share, compared to $626.2 million, or $2.42 per diluted share, in the year ago period. Adjusted EBITDA* for the six months ended June 30, 2026 was $1.610  billion, as compared to $1.499 billion in the pr

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