Waste Connections Reports 7.5% Revenue Growth to $2.228 Billion in Q1 2025

Waste Connections, Inc. reported a notable increase in financial performance for the first quarter of 2025, with total revenues reaching $2.228 billion, a 7.5% rise from $2.073 billion in the same period last year. The company's net income attributable to Waste Connections also saw an increase, rising to $241.5 million, or $0.93 per diluted share, compared to $230.1 million, or $0.89 per diluted share, in the prior year. This growth in revenue and profitability was primarily driven by acquisitions and price increases, despite facing challenges such as volume losses in certain segments.

The company made several strategic moves during the quarter, including the acquisition of three non-hazardous solid waste collection and recycling businesses, as well as one immaterial E&P waste treatment and disposal business. These acquisitions contributed approximately $131 million to revenue. However, operations that were divested and closed during the previous fiscal period negatively impacted revenues by a combined total of $18.9 million. The company also reported a net increase in prices charged to customers, which added $129.5 million to revenues, although it faced volume losses totaling $65.9 million due to a decrease in roll-off and residential collection volumes.

Operationally, Waste Connections reported a total of 106 owned operational landfills and landfills operated under life-of-site agreements, processing a total of 11.6 million tons of waste in the first quarter of 2025, down from 12 million tons in the same period last year. The company’s total assets increased to $20.254 billion as of March 31, 2025, compared to $19.818 billion at the end of 2024, reflecting growth in cash and equivalents, accounts receivable, and property and equipment. The company’s employee headcount also increased, aligning with its expansion strategy.

Looking ahead, Waste Connections anticipates continued growth driven by its strategic acquisitions and operational efficiencies. The company plans to invest between $1.2 billion and $1.225 billion in capital expenditures for 2025, including significant investments in renewable natural gas facilities. The management remains optimistic about the company's ability to navigate market conditions and leverage its operational strengths to enhance shareholder value. The company’s board of directors has also approved a quarterly cash dividend of $0.315 per share, reflecting its commitment to returning value to shareholders.