Waste Connections Reports 5% Q4 Revenue Growth to $2.37B, Declares Quarterly Dividend
Waste Connections posted Q4 CY2025 revenue of $2.37 billion, up 5% year-on-year and in line with estimates, while adjusted EPS of $1.29 beat by 1.5% but adjusted EBITDA of $706.7 million missed by 10.7%. The board declared its regular quarterly cash dividend to shareholders.
1. Q4 Financial Results
In Q4 CY2025, Waste Connections generated $2.37 billion in revenue, a 5% increase from a year earlier and matching consensus. Adjusted earnings per share of $1.29 exceeded estimates by 1.5%, while adjusted EBITDA of $706.7 million fell 10.7% below forecasts, yielding a 29.8% margin.
2. 2026 Outlook and Margin Expansion
The company guided full-year revenue to approximately $9.93 billion at the midpoint, in line with analyst projections. Operating margin improved to 17.7% from –8.8% a year ago, and full-year adjusted EBITDA margin expanded by 100 basis points to 33.0%, reflecting price-led organic growth and operational efficiencies.
3. Dividend Declaration
Waste Connections announced its regular quarterly cash dividend, underscoring a commitment to returning capital to shareholders. The declaration signals confidence in the company’s cash flow generation and financial stability.