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Waste Connections 8-K Report, Financial Results (Jul 22, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed July 22, 2026
Period End
July 22, 2026
Security
WCN
In the record · 2016–202610-K1110-Q328-K180

WCN filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 180 current reports (8-K) between 2016 and 2026.

  1. Auditor change8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Aug ’19Aug ’19
  3. Material agreement8-K · Sep ’21Sep ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed July 22, 2026. Cited figures are marked; the original filing is the authoritative source.

Waste Connections, Inc. reported second quarter 2026 revenue of $2.562 billiona, up from $2.407 billion a year earlier, and net income of $296.4 million, or $1.17 per diluted share.

Adjusted net income was $381.7 millionb, or $1.50 per diluted share, compared with $1.29 in the prior-year period. Adjusted EBITDA reached $840.1 million, up 6.8%, and the adjusted EBITDA margin was 32.8% of revenue. Management said results were above expectations, with margin expansion of 70 basis points on an underlying basis despite rapidly rising fuel costs and lower commodity values.

Operating income was reduced by $58.5 millionc of impairments tied to adjustments to landfill closure and post-closure costs. The company raised its full-year 2026 outlook, now estimating revenue of $10.02 billion to $10.05 billion, net income of $1.169 billion to $1.173 billion, and adjusted EBITDA of $3.33 billion to $3.34 billion. It also expects net cash provided by operating activities of $2.63 billion to $2.68 billion and adjusted free cash flow of $1.40 billion to $1.45 billion, with capital expenditures of approximately $1.25 billion.

The outlook excludes any contribution from acquisitions that may close later in the year. Management cited upside from improving commodity trends and incremental acquisitions. Capital allocation remained active.

The company repurchased $614.5 milliond of shares year to date, approximately 1.5% of shares outstanding, and completed acquisitions with over $100 million in annualized revenue. Debt to book capitalization was 54% as of June 30, 2026. The information is furnished under Items 2.02 and 7.01 and is being provided through a press release (Exhibit 99.1) that also includes the financial tables and non-GAAP reconciliations.

The company scheduled a conference call on July 23, 2026 at 8:30 A.M. Eastern Time.

02—Key points

Key Highlights

  1. Q2 2026 revenue rose to $2.562 billion from $2.407 billion, with the company describing the result as above expectations.
  2. Adjusted EBITDA of $840.1 million, up 6.8%, with a 32.8% margin; GAAP net income was $296.4 million, or $1.17 per diluted share.
  3. Adjusted net income of $381.7 million, or $1.50 per diluted share, versus $1.29 in the prior-year quarter.
  4. Full-year 2026 outlook raised: revenue of $10.02–$10.05 billion and adjusted EBITDA of $3.33–$3.34 billion; the outlook excludes future acquisitions.
  5. Adjusted free cash flow outlook of $1.40–$1.45 billion, with capital expenditures of approximately $1.25 billion.
  6. Record year-to-date share repurchases of $614.5 million, approximately 1.5% of shares outstanding; quarterly cash dividend increased to $0.350 per share from $0.315.
  7. Q2 operating income included $58.5 million of impairments tied to landfill closure and post-closure cost adjustments, which the company excludes from adjusted measures.

03—Questions

Frequently Asked Questions

  1. What drove the raised 2026 outlook?

    The company attributed the increase to better-than-expected second quarter results, improving commodity values, ongoing fuel cost recovery, and contributions from acquisitions closed to date. Management said there is additional upside from improving commodity trends and incremental acquisitions.

  2. How did margins perform despite cost pressures?

    Adjusted EBITDA margin was 32.8% of revenue in the second quarter, and management said it reflected 70 basis points of underlying margin expansion. This offset cost pressures from rapidly spiking fuel and related costs and lower comparative commodity values.

  3. What was the impact of the landfill-related impairments?

    Operating income for the second quarter included $58.5 million of impairments primarily attributable to adjustments to landfill closure and post-closure costs. These items are excluded from the company's adjusted net income and adjusted EBITDA measures.

  4. How is the company returning capital to shareholders?

    The company repurchased $614.5 million of common shares year to date, approximately 1.5% of shares outstanding, and paid cash dividends of $0.70 per share for the six months ended June 30, 2026. The quarterly dividend was $0.350 per share in the second quarter, up from $0.315 a year earlier.

04—Continue

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