Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Waste Connections, Inc. (NYSE: WCN) reported upbeat fourth-quarter financial results on Tuesday.
Waste Connections posted adjusted earnings of $1.11 per share, beating market estimates of $1.09 per share. The company’s quarterly sales came in at $2.04 billion versus expectations of $2.03 billion, according to data from Benzinga Pro.
Ronald J. Mittelstaedt, President and Chief Executive Officer said, "We are extremely pleased by our 2023 results and our positioning for outsized growth in 2024. We applaud the resilience of our 23,000 dedicated employees who enabled us to deliver on our commitments and once again drive industry-leading results. Their efforts have already positioned us for 120 basis points adjusted EBITDA(b) margin expansion in 2024 on approaching double-digit revenue growth, with upside from continued improvement in recovered commodity values or inflationary pressures, as well as any additional acquisition activity."
On Thursday, Waste Connections said it plans to proceed, subject to market and other conditions, to offer senior notes in an underwritten public offering.
Waste Connections shares gained 0.3% to trade at $164.63 on Thursday.
These analysts made changes to their price targets on Waste Connections after the company reported quarterly results.
- RBC Capital boosted the price target on Waste Connections from $169 to $182. RBC Capital analyst Walter Spracklin maintained an Outperform rating.
- BMO Capital increased the price target on Waste Connections from $166 to $178. BMO Capital analyst Devin Dodge maintained an Outperform rating.
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Latest Ratings for WCN
| Feb 2022 | BMO Capital | Maintains | Outperform | |
| Feb 2022 | Raymond James | Maintains | Strong Buy | |
| Oct 2021 | Raymond James | Maintains | Strong Buy |
View the Latest Analyst Ratings
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