Waste management company Waste Connections (NYSE: WCN) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.
Waste Connections beat analysts’ revenue expectations last quarter, reporting revenues of $2.37 billion, up 6.4% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ EBITDA estimates.
Is Waste Connections a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Waste Connections’s revenue to grow 5.4% year on year, slowing from the 7.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Waste Connections has a history of exceeding Wall Street’s expectations.
With Waste Connections being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for environmental and facilities services stocks. However, the whole sector has faced a sell-off over the last month with stocks in Waste Connections’s peer group down 4% on average. Waste Connections is up 9.6% during the same time.
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