The strong Q1 beat and maintained 2026 guidance suggest continued operational momentum; monitor upcoming quarters for sustained margin expansion and free cash flow growth as key drivers for further upside.
Price Chart
Executive Summary
Waste Connections reported Q1 2026 earnings with revenue of $2.371 billion (above expectations) and adjusted EBITDA of $769.5 million, up 8.0% year-over-year. Adjusted EPS was $1.23, beating consensus estimates. The company reaffirmed its 2026 outlook with expectations for double-digit adjusted free cash flow growth.
Key Financial Metrics
Key Facts
- Revenue: $2.371 billion (6.4% YoY growth, above expectations)
- Adjusted EBITDA: $769.5 million (8.0% YoY growth)
- Adjusted EPS: $1.23 (beat consensus of $1.18)
- Adjusted EBITDA margin: 32.5% (up 50 bps YoY)
- Year-to-date share repurchases: $360 million (~1% of shares outstanding)
Financial Impact
Revenue beat by $21 million, EPS beat by $0.05, EBITDA beat by $19.5 million
Risk Factors
- Increased impairments ($80.4 million) related to landfill closure costs could pressure future margins
- Higher interest expense ($87.7 million) may impact profitability if rates remain elevated
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-046820 |
| Document: wcn-20260422x8k.htm | 0001104659-26-046820 |
| Document: 0001104659-26-046820-index-headers.html | 0001104659-26-046820 |
| Document: 0001104659-26-046820-index.html | 0001104659-26-046820 |
| Document: 0001104659-26-046820.txt | 0001104659-26-046820 |
| 8-K Data (Synthetic) | 0001104659-26-046820 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | Insider Cluster | $169.40 $155.33 | ▼ −8.31% | ▼ −8.03% | $150.90 (−10.92%) |
Aug 20, 2026 6w ago | Insider Cluster | $168.33 $155.33 | ▼ −7.72% | ▼ −7.72% | $150.90 (−10.36%) |
Jul 31, 2026 9w ago | Insider Cluster | $167.38 $165.93 | ▼ −0.87% | ▼ −3.85% | $150.90 (−9.85%) |
Jul 27, 2026 9w ago | 424B5 | $169.35 $168.97 | ▼ −0.22% | ▼ −3.52% | $150.90 (−10.90%) |
Jun 9, 2026 16w ago | Insider Cluster | $159.03 $170.14 | ▲ +6.99% | ▲ +3.36% | $150.90 (−5.12%) |
May 15, 2026 19w ago | 8-K | $158.92 $157.07 | ▼ −1.16% | ▼ −2.75% | $150.90 (−5.05%) |
May 12, 2026 20w ago | Insider Cluster | $156.61 $154.98 | ▼ −1.04% | ▼ −3.16% | $150.90 (−3.65%) |
Apr 27, 2026 22w ago | 144 | $163.18 $153.68 | ▼ −5.82% | ▼ −11.29% | $150.90 (−7.53%) |
Apr 23, 2026 23w ago | DEFA14A | $165.70 $155.77 | ▼ −5.99% | ▼ −10.02% | $150.90 (−8.94%) |
Apr 22, 2026 23w ago | 8-K | $168.52 $156.98 | ▼ −6.85% | ▼ −11.48% | $150.90 (−10.46%) |
US Market Status
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