Company: WCN
Filing Date: 2025-04-24
Form Type: 8-K
Source: 0001558370-25-005342
Chunk: 0

Company: Waste Connections, Inc.
Filing Date: 2025-04-24
Form: 8-K
Item: Item 7.01
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Item 7.01 Regulation FD Disclosure.

During our earnings conference call on April 24, 2025, we highlighted the following outlook for the second quarter 2025.

(Dollar amounts are approximations)

For the second quarter of the year, we estimate our revenue to be in the range of $2.375 billion to $2.400 billion. Net income attributable to Waste Connections is estimated to be in the range of $281.0 million to $285.5 million. Adjusted EBITDA is estimated to be in the range of $777 million to $785 million, or 32.7% of revenue.

Q2 2025 OUTLOOK

NON-GAAP RECONCILIATION SCHEDULE

(in thousands of U. S. dollars, except where noted)

Reconciliation of Adjusted EBITDA:

                                                      Q2 2025 Outlook                                                                                                                  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                      Estimates                                                                                                                        
                                                      Low                               High                   Observation                                                             
  Net income attributable to Waste Connections        $                    281,000      $         285,500                                                                              
  Plus: Income tax provision                                                91,000                 92,500      Approximately 24.5% effective rate                                      
  Plus: Interest expense, net of interest income                            82,000                 82,000                                                                              
  Plus: Depreciation and depletion                                         261,000                263,000      Approximately 11.0% of revenue                                          
  Plus: Amortization                                                        50,000                 50,000      Approximately 2.1% of revenue, or $0.14 per diluted share net of taxes  
  Plus: Closure and post-closure accretion                                  12,000                 12,000                                                                              
  Adjusted EBITDA                                     $                    777,000      $         785,000      Approximately 32.7% of revenue                                          

These estimates assume no significant change in underlying economic trends. These estimates also exclude any impact from additional acquisitions that may close during the remainder of the second quarter and expensing of transaction-related items during the period.

Adjusted EBITDA, a non-GAAP financial measure, is provided supplementally because it is widely used by investors as a performance and valuation measure in the solid waste industry. Management uses adjusted EBITDA as one of the principal measures to evaluate and monitor the ongoing financial performance of our operations