Waste Connections Inc. Announces Strong Financial Performance and Dividend Increase

TORONTO, July 23, 2025 — Waste Connections, Inc. (TSX/NYSE: WCN), a leading player in the Industrials sector specializing in waste collection and recycling services, has delivered a robust financial performance for the second quarter of 2025. The company reported a revenue of $2.407 billion, surpassing expectations and marking a 7.1% increase from the previous year. Net income stood at $290.3 million, or $1.12 per share, while adjusted net income attributable to Waste Connections reached $333.1 million, or $1.29 per share. Adjusted EBITDA was reported at $786.4 million, up 7.5% from the prior year, with an adjusted EBITDA margin of 32.7% of revenue.

The company’s success is attributed to a 6.6% increase in solid waste core pricing, alongside continued improvements in employee retention and record safety performance. These factors have contributed to better-than-expected results, reinforcing Waste Connections’ position as a leader in the commercial services and supplies industry.

In addition to its strong financial performance, Waste Connections has announced a regular quarterly cash dividend of $0.315 U.S. per common share, payable on August 21, 2025, to shareholders of record at the close of business on August 6, 2025. The Board of Directors has expressed its intention to review the quarterly dividend each October, with a long-term objective of increasing the dividend amount, reflecting the company’s commitment to returning value to its shareholders.

Despite the positive quarterly results, Waste Connections maintains its full-year 2025 outlook, projecting $9.45 billion in revenue, $3.12 billion in adjusted EBITDA, and $1.30 billion in adjusted free cash flow. This outlook underscores the company’s confidence in its strategic initiatives and operational efficiency.

Analysts have been closely monitoring Waste Connections’ performance, with 19 analysts estimating an average earnings per share (EPS) of $1.25 for the recent quarter, compared to $1.46 CAD per share in the same quarter of the previous year. Revenue projections for the quarter stood at $2.39 billion USD, a decrease from the $3.08 billion CAD reported in the prior-year quarter. For the current fiscal year, 20 analysts have set an average EPS expectation of $1.30.

Waste Connections’ stock closed at 251.48 CAD on July 21, 2025, with a 52-week high of 284.725 CAD on April 3, 2025, and a 52-week low of 237.56 CAD on October 2, 2024. The company’s market capitalization is valued at 64.36 billion CAD, with a price-to-earnings ratio of 42.1271.

As Waste Connections continues to navigate the evolving landscape of the waste management industry, its strategic focus on sustainability, operational excellence, and shareholder value remains paramount. The company’s recent financial achievements and dividend announcement are testament to its resilience and forward-looking approach in a competitive market.

For more information on Waste Connections’ services and initiatives, visit their website at www.wasteconnections.com .

Note: This article is based on the provided financial news and fundamental information for Waste Connections Inc. as of July 23, 2025.