Waste Connections (WCN) reported Q3 EPS of $1.10, $0.08 better than the analyst estimate of $1.02. Revenue for the quarter came in at $1.88 billion versus the consensus estimate of $1.87 billion.
GUIDANCE:
Waste Connections sees FY2022 revenue of $7.19 billion, versus the consensus of $7.156 billion.
Net income is estimated to be approximately $836.7 million, and adjusted EBITDA(b) is estimated to be approximately $2.210 billion, or about 30.7% of revenue, as compared to our previously revised adjusted EBITDA(b) outlook of $2.190 billion or 30.7% of revenue.
Capital expenditures are estimated to be approximately $850 million, in line with our original outlook.
Net cash provided by operating activities is estimated to be approximately $1.963 billion, and adjusted free cash flow(b) is estimated at approximately $1.160 billion, or about 16.1% of revenue, as compared to our previously revised adjusted free cash flow(b) outlook of $1.160 billion or 16.3% of revenue.