Waste Connections (WCN) Q3 Earnings & Revenues Top Estimates
Zacks Investment Research | Oct 31, 2019 06:55AM ET
Waste Connections (NYSE:WCN) reported solid third-quarter 2019 results, wherein the company’s earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of 73 cents per share beat the consensus estimate by a penny and increased 5.8% year over year. Revenues of $1.41 billion beat the consensus mark by $7.1 million and improved 10.2% year over year.
The company has gained $82.8 million of revenues from acquisitions completed since the year-ago period.
So far this year, shares of Waste Connections have gained 24.7% compared with 21.6% rise of the industry it belongs to.
Let’s check out the numbers in detail.
Revenues by Segment
Solid Waste Collection segment revenues increased 13.7% year over year to $988.26 million. The segment accounted for 70% of total revenues.
Solid Waste Disposal and Transfer segment revenues increased 9.1% from the year-ago quarter to $317.66 million. The segment contributed 22.5% to total revenues.
E&P Waste Treatment, Recovery and Disposal segment revenues increased 2.5% from the year-ago quarter to $66.41 million. The segment contributed 4.7% to total revenues.
Intermodal and Other segment revenues declined 20.9% to $26.37 million. The segment accounted for 1.8% of total revenues.
Solid Waste Recycling segment revenues declined 38.6% year over year to $13.75 million. The segment accounted for 1% of total revenues.
Operating Results
Adjusted EBITDA in the third quarter was $443.56 million compared with $416.81 million in the year-ago quarter. Adjusted EBITDA margin came in at 31.4% compared with 32.5% in the year-ago quarter.
Operating income totaled $236.60 million compared with $232.87 million in the year-ago quarter. Operating margin was 16.8% compared with 18.2% in the year-ago quarter.
Waste Connections, Inc. Price, Consensus and EPS Surprise
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