Waste Connections (WCN) Tops Q1 EPS by 5c; Proposes 3-for-2 Stock Split

Waste Connections (NYSE: WCN) reported Q1 EPS of $0.74, $0.05 better than the analyst estimate of $0.69. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.08 billion.

"2017 is off to a great start, with 15% same store landfill tonnage increases, better than expected contribution from recent acquisitions, increased E&P waste activity, and higher recycled commodity prices all driving results above our outlook for the first quarter. Adjusted EBITDA margin was 50 basis points above our expectations, and most importantly, adjusted free cash flow was $237.5 million, putting us well on our way to our full year adjusted free cash flow outlook of $725 million," said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer.

Mr. Mittelstaedt added, "We are extremely pleased with our first quarter performance and encouraged by both continuing strong solid waste fundamentals and the notable ramping of E&P waste activity and related margins. In addition, we are proud of our proposed three-for-two stock split also announced today, which, if approved by our shareholders, will be the fourth such split in our almost twenty year history."

For earnings history and earnings-related data on Waste Connections (WCN) click here.

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