Waste Connections slightly beats Q1 revenue estimates

Waste Connections,

22/04/2026 21:15

Overview

US-Canada solid waste operator's Q1 revenue rose 6.4%, slightly beating analyst expectations

Adjusted net income per share rose to $1.23 from $1.13 a year ago

Company repurchased about 1% of outstanding shares year-to-date

Outlook

Waste Connections sees upside to 2026 outlook from commodity impacts, organic growth and acquisitions

Company expects incremental benefits from higher fuel prices, strong pricing retention and special waste activity

Waste Connections anticipates another outsized year of acquisition activity and increased capital returns

Result Drivers

SOLID WASTE ORGANIC GROWTH - Co said Q1 results benefited from solid waste organic growth, including a 4.7% yield and 6.0% core price increase

STRONG PRICING RETENTION - Management cited strong pricing retention as a driver, with core price up 6.0% in Q1

SPECIAL WASTE ACTIVITY - Increased special waste activity contributed to Q1 performance, according to the company

Company press release: ID:nBw9xHbHta

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$2.37 bln
$2.35 bln (12 Analysts)
Q1 Adjusted Net Income
$314.90 mln
Q1 Net Income
$219.34 mln
Q1 Adjusted EBITDA
$769.50 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the environmental services & equipment peer group is "buy"

Wall Street's median 12-month price target for Waste Connections Inc is C$272.59, about 26.3% above its April 21 closing price of C$215.83

The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 31 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)