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Waste Connections (WCN) Q2 Earnings & Revenues Beat, Up Y/Y
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Waste Connections, Inc.(WCN - Free Report) reported solid second-quarter 2021 results wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of 81 cents per share beat the Zacks Consensus Estimate by 5.2% and increased 35% year over year. Revenues of $1.53 billion beat the consensus mark by 2.2% and rose 17.5% year over year.
Acquisitions contributed $44.1 million to revenues in the reported quarter.
So far this year, shares of Waste Connections have gained 22.9%, outperforming the 8% surge of the industry it belongs to.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail:
Revenues by Segment
Solid Waste Collection segment revenues increased 15.9% year over year to $1.09 billion.
Solid Waste Disposal and Transfer segment revenues increased 18.9% from the year-ago quarter’s level to $328.78 million.
Solid Waste Recycling segment revenues surged more than 100% year over year to $40.43 million.
Intermodal and Other segment revenues increased 39.1% to $38.49 million.
E&P Waste Treatment, Recovery and Disposal segment revenues declined 12.3% from the year-ago quarter’s level to $35.51 million.
Operating Results
Adjusted EBITDA in the reported quarter was $484.91 million, up 22.9% from the year-ago quarter’s levels. Adjusted EBITDA margin came in at 31.6% compared with 30.2% in the year-ago quarter.
Operating income totaled $266.79 million, compared with an operating loss of $232.36 million in the year-ago quarter.
Waste Connections, Inc. Price, Consensus and EPS Surprise
Waste Connections exited second-quarter 2021 with cash and cash equivalents of $727.39 million compared with $743.46 million at the end of the prior quarter. Long-term debt was $4.76 billion compared with $4.61 billion at the end of the prior quarter.
The company generated $448.08 million of cash from operating activities in the reported quarter. Adjusted free cash flow was $296.05 million. Capital expenditures totaled $174.59 million.
The company paid out dividends worth $53.42 million in the reported quarter.
Equifax’s (EFX - Free Report) second-quarter 2021 adjusted earnings of $1.98 per share beat the Zacks Consensus Estimate by 15.8% and improved on a year-over-year basis. Revenues of $1.23 billion outpaced the consensus estimate by 6.4% and improved 26% year over year on a reported basis and 23% on a local-currency basis.
Robert Half’s (RHI - Free Report) second-quarter 2021 earnings of $1.33 per share beat the consensus mark by 26.7% and were up more than 100% year over year. Revenues of $1.6 billion surpassed the consensus mark by 6.5% and increased 42.3% year over year on a reported basis and 40% on an adjusted basis.
ManpowerGroup’s (MAN - Free Report) second-quarter 2021 adjusted earnings of $2.02 per share beat the consensus mark by 68.2% and improved more than 100% year over year. Revenues of $5.28 billion beat the consensus mark by 2% and inched up 41% year over year on a reported basis and 31.3% on a constant-currency (cc) basis.
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Waste Connections (WCN) Q2 Earnings & Revenues Beat, Up Y/Y
Waste Connections, Inc.(WCN - Free Report) reported solid second-quarter 2021 results wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of 81 cents per share beat the Zacks Consensus Estimate by 5.2% and increased 35% year over year. Revenues of $1.53 billion beat the consensus mark by 2.2% and rose 17.5% year over year.
Acquisitions contributed $44.1 million to revenues in the reported quarter.
So far this year, shares of Waste Connections have gained 22.9%, outperforming the 8% surge of the industry it belongs to.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail:
Revenues by Segment
Solid Waste Collection segment revenues increased 15.9% year over year to $1.09 billion.
Solid Waste Disposal and Transfer segment revenues increased 18.9% from the year-ago quarter’s level to $328.78 million.
Solid Waste Recycling segment revenues surged more than 100% year over year to $40.43 million.
Intermodal and Other segment revenues increased 39.1% to $38.49 million.
E&P Waste Treatment, Recovery and Disposal segment revenues declined 12.3% from the year-ago quarter’s level to $35.51 million.
Operating Results
Adjusted EBITDA in the reported quarter was $484.91 million, up 22.9% from the year-ago quarter’s levels. Adjusted EBITDA margin came in at 31.6% compared with 30.2% in the year-ago quarter.
Operating income totaled $266.79 million, compared with an operating loss of $232.36 million in the year-ago quarter.
Waste Connections, Inc. Price, Consensus and EPS Surprise
Waste Connections, Inc. price-consensus-eps-surprise-chart | Waste Connections, Inc. Quote
Balance Sheet and Cash Flow
Waste Connections exited second-quarter 2021 with cash and cash equivalents of $727.39 million compared with $743.46 million at the end of the prior quarter. Long-term debt was $4.76 billion compared with $4.61 billion at the end of the prior quarter.
The company generated $448.08 million of cash from operating activities in the reported quarter. Adjusted free cash flow was $296.05 million. Capital expenditures totaled $174.59 million.
The company paid out dividends worth $53.42 million in the reported quarter.
Currently, Waste Connections carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Equifax’s (EFX - Free Report) second-quarter 2021 adjusted earnings of $1.98 per share beat the Zacks Consensus Estimate by 15.8% and improved on a year-over-year basis. Revenues of $1.23 billion outpaced the consensus estimate by 6.4% and improved 26% year over year on a reported basis and 23% on a local-currency basis.
Robert Half’s (RHI - Free Report) second-quarter 2021 earnings of $1.33 per share beat the consensus mark by 26.7% and were up more than 100% year over year. Revenues of $1.6 billion surpassed the consensus mark by 6.5% and increased 42.3% year over year on a reported basis and 40% on an adjusted basis.
ManpowerGroup’s (MAN - Free Report) second-quarter 2021 adjusted earnings of $2.02 per share beat the consensus mark by 68.2% and improved more than 100% year over year. Revenues of $5.28 billion beat the consensus mark by 2% and inched up 41% year over year on a reported basis and 31.3% on a constant-currency (cc) basis.