WCN shares fall 7% since fourth-quarter 2025 earnings topped estimates, as margin pressure, an operating loss and weaker recycling results weigh on sentiment.
Waste Connections delivered robust 2025 results, with strong revenue growth, expanding margins, and disciplined M&A execution despite volume headwinds. WCN expects 2026 organic solid waste growth of 3.5-4.0%, EBITDA margins expanding 30-40 bps, and double-digit free cash flow growth, underpinned by pricing and efficiency gains. AI-driven initiatives and a sizable M&A pipeline position WCN for continued long-term growth, capital returns, and margin expansion.
Waste Connections, Inc. (WCN) Q4 2025 Earnings Call Transcript
While the top- and bottom-line numbers for Waste Connections (WCN) give a sense of how the business performed in the quarter ended December 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Waste Connections (WCN) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.16 per share a year ago.
Besides Wall Street's top-and-bottom-line estimates for Waste Connections (WCN), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2025.
Waste Connections (WCN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Waste Connections has outpaced a falling industry, fueled by a steady EPS growth outlook, active acquisitions adding revenues and a rising dividend signal.
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Waste Connections is a leading North American waste services provider, posting solid growth through acquisitions and cost controls, but trades near fair value. WCN's Q3 results beat expectations, with solid free cash flow and continued acquisition momentum, but higher CAPEX and debt-financed deals raise caution. Dividend growth continues with their 15th consecutive annual double-digit increase, but yield remains low, with the new buyback program advancing.
Waste Connections (WCN) reported earnings 30 days ago. What's next for the stock?
Waste Connections (WCN) remains a disciplined compounder, leveraging pricing power, route density, and municipal contracts to drive stable, resilient growth. WCN's Q3 results highlight robust free cash flow conversion, mid-30s EBITDA margins, and steady organic revenue growth, supporting a predictable compounding story. Trading at ~17.7x forward EV/EBITDA, slightly below its 5-year average, WCN offers 30-35% upside as FCF per share compounds through FY27.