Waste Connections (WCN) Tops Q2 EPS by 2c; Raises Outlook

Waste Connections (NYSE: WCN) reported Q2 EPS of $0.55, $0.02 better than the analyst estimate of $0.53. Revenue for the quarter came in at $1.76 billion versus the consensus estimate of $1.15 billion.

GUIDANCE:

Waste Connections sees FY2017 revenue of $4.57 billion, versus the consensus of $4.52 billion.

UPDATED 2017 OUTLOOK

Waste Connections also updated its outlook for 2017, which assumes no change in the current economic environment. The Company's outlook excludes any impact from additional divestitures and acquisitions that may close during the year, and expensing of transaction-related items. The outlook provided below is forward looking, and actual results may differ materially depending on risks and uncertainties detailed at the end of this release and in our periodic filings with the U.S. Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. Certain components of the outlook for 2017 are subject to quarterly fluctuations. See reconciliation in the attached tables.

• Revenue is estimated to be approximately $4.570 billion, as compared to our original revenue outlook of approximately $4.450 billion.
• Net income is estimated to be approximately $390 million and adjusted EBITDA* is estimated to be approximately $1.450 billion, or about 31.7% of revenue, as compared to our original adjusted EBITDA* outlook of $1.410 billion.
• Net cash provided by operating activities is estimated to be approximately $1.186 billion and adjusted free cash flow* is estimated to be approximately $750 million, or about 16.4% of revenue, as compared to our original adjusted free cash flow* outlook of approximately $725 million.

For earnings history and earnings-related data on Waste Connections (WCN) click here.

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