Waste Connections (WCN) Tops Q4 EPS by 3c, Beats on Revenues; Offers FY18 Revenue Guidance Below Consensus

Waste Connections (NYSE: WCN) reported Q4 EPS of $0.52, $0.03 better than the analyst estimate of $0.49. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.13 billion.

Fourth Quarter 2017 Highlights

• Revenue of $1.157 billion, exceeding outlook
• Reports 4.3% solid waste price + volume growth, exceeding outlook
• Net income attributable to Waste Connections of $315.1 million, or $1.19 per share
• Adjusted net income attributable to Waste Connections* of $137.0 million, or $0.52 per share, up 13.0% per share
• Adjusted EBITDA* of $360.7 million, or 31.2% of revenue

Full-Year 2017 Highlights

• Revenue of $4.630 billion
• Reports 4.4% solid waste price + volume growth
• Net cash provided by operating activities of $1.187 billion
• Adjusted free cash flow* of $763.9 million, or 16.5% of revenue

Looking at 2018

• Expects revenue of approximately $4.825 billion, excluding additional acquisitions
• Expects adjusted EBITDA* margin expansion of 60 basis points YoY
• Expects net cash provided by operating activities of approximately $1.350 billion, or 28.0% of revenue
• Expects adjusted free cash flow* of approximately $850.0 million, or 17.6% of revenue

GUIDANCE:

Waste Connections sees FY2018 revenue of $4.825 billion, versus the consensus of $4.85 billion.

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

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