WASTE CONNECTIONS Reports Second Quarter FY2023 Earnings Results
August 14, 2023
🌧️Earnings Overview
For the second quarter of FY2023, Waste Connections ($NYSE:WCN) reported a total revenue of USD 2021.1 million, which was an 11.3% year-over-year increase. However, their net income for the quarter was USD 209.2 million, a 6.6% decrease compared to the same period in FY2022.
Share Price
Waste Connections, Inc. reported its second quarter fiscal year 2023 earnings results on Wednesday. The company’s stock opened at $142.5 and closed at $141.6, recording a 0.9% decrease from the previous closing price of 142.9. Waste Connections has continued to focus on organic growth and strategic acquisitions to drive future growth.
The company recently announced the acquisition of Advanced Disposal Services, Inc., which will expand its North American portfolio with additional residential, commercial, industrial and municipal customers in the eastern United States. Overall, despite the 0.9% decrease in stock prices, investors remain optimistic about Waste Connections’ future prospects and are confident that their strategic investments will generate strong returns in the long run. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Waste Connections. More…
| Total Revenues | Net Income | Net Margin |
| 7.67k | 838.28 | 11.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Waste Connections. More…
| Operations | Investing | Financing |
| 2.07k | -2.8k | 614.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Waste Connections. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 17.36k | 9.9k | 28.94 |
Key Ratios Snapshot
Some of the financial key ratios for Waste Connections are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.2% | 13.9% | 17.2% |
| FCF Margin | ROE | ROA |
| 14.7% | 11.2% | 4.7% |
Analysis
GoodWhale has thoroughly analyzed the financials of WASTE CONNECTIONS and determined that it is a medium risk investment. We took into account both the financial and business aspects, and based on our Risk Rating system, we have found that there are two risk warnings in the income sheet and balance sheet. If you are looking to invest in WASTE CONNECTIONS, we suggest that you register with us to review these risk warnings and take them into account when making your investment decision. Our Risk Rating system provides an easy and efficient way to evaluate the potential risks associated with investing in a company and make more informed decisions. More…
Peers
The company’s operations include solid waste collection, transfer, disposal, and recycling. Waste Connections Inc has a network of operations in the United States, Canada, and Mexico. The company’s primary competitors are JPX Global Inc, Cleanaway Waste Management Ltd, and Wangneng Environment Co Ltd.
– JPX Global Inc ($OTCPK:JPEX)
JPX Global Inc is a leading provider of innovative technology solutions. The company has a market capitalization of $42.81 million and a return on equity of 9.79%. JPX Global offers a wide range of products and services that enable businesses to operate more efficiently and effectively. The company’s products and services include enterprise resource planning (ERP) software, customer relationship management (CRM) software, business intelligence (BI) software, and enterprise mobility solutions. JPX Global also provides a suite of cloud-based solutions that allow businesses to connect and collaborate with employees, customers, and partners.
– Cleanaway Waste Management Ltd ($ASX:CWY)
Cleanaway Waste Management Ltd is an Australian environmental services company. It is the largest provider of waste management and industrial services in Australia. The company has a market capitalization of $5.99 billion as of 2022 and a return on equity of 3.57%. Cleanaway Waste Management Ltd provides a range of services including waste collection, treatment and disposal, recycling, and resource recovery. The company has a strong focus on environmental sustainability and aims to reduce the environmental impact of waste.
– Wangneng Environment Co Ltd ($SZSE:002034)
Wangneng Environment Co Ltd is a Chinese company that focuses on environmental protection. The company has a market cap of 8.34 billion as of 2022 and a return on equity of 11.53%. The company operates in three main segments: environmental protection, water resources, and solid waste management. The company’s environmental protection segment provides environmental protection services such as air pollution control, water pollution control, and noise pollution control. The water resources segment engages in the development, utilization, and protection of water resources. The solid waste management segment provides services for the treatment and disposal of solid waste.
Summary
Waste Connections, Inc. reported positive results for the second quarter of FY2023, with total revenue increasing by 11.3% year-on-year to USD 2021.1 million.
However, their reported net income decreased by 6.6% compared to the same period a year ago. This suggests that Waste Connections’ earnings growth is slowing, and investors should take note of the company’s position in the competitive waste management sector. Despite the decrease in net income, it is still an attractive investment opportunity for those looking for long-term growth potential, as the company continues to benefit from increasing demand for waste management services. Investors may want to keep an eye on the company’s progress and its ability to transition to a more sustainable business model.
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