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Compared to Estimates, Waste Connections (WCN) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Waste Connections (WCN - Free Report) reported revenue of $2.25 billion, up 11.2% over the same period last year. EPS came in at $1.24, compared to $1.02 in the year-ago quarter.
The reported revenue represents a surprise of +1.44% over the Zacks Consensus Estimate of $2.22 billion. With the consensus EPS estimate being $1.18, the EPS surprise was +5.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Waste Connections performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenues- Canada: $319.21 million versus $279.34 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.7% change.
Geographic Revenues- Central: $386.04 million versus $396.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.2% change.
Geographic Revenues- Eastern: $386.10 million versus $381.45 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.8% change.
Geographic Revenues- Southern: $439.28 million versus the two-analyst average estimate of $451.49 million. The reported number represents a year-over-year change of -5.9%.
Revenue Breakdown- E&P Waste Treatment, Recovery and Disposal: $123.57 million versus $83.53 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +110.8% change.
Revenue Breakdown- Intermodal and Other: $49.10 million compared to the $39.81 million average estimate based on four analysts. The reported number represents a change of +24.4% year over year.
Revenue Breakdown- Solid Waste Recycling: $63.30 million versus the two-analyst average estimate of $45.98 million. The reported number represents a year-over-year change of +65.2%.
Revenues- Intercompany: -$327.03 million versus -$316.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
Revenue Breakdown- Solid Waste Collection: $1.58 billion compared to the $1.63 billion average estimate based on two analysts. The reported number represents a change of +6.6% year over year.
Shares of Waste Connections have returned +3.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Waste Connections (WCN) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Waste Connections (WCN - Free Report) reported revenue of $2.25 billion, up 11.2% over the same period last year. EPS came in at $1.24, compared to $1.02 in the year-ago quarter.
The reported revenue represents a surprise of +1.44% over the Zacks Consensus Estimate of $2.22 billion. With the consensus EPS estimate being $1.18, the EPS surprise was +5.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Waste Connections performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenues- Canada: $319.21 million versus $279.34 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.7% change.
- Geographic Revenues- Central: $386.04 million versus $396.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.2% change.
- Geographic Revenues- Eastern: $386.10 million versus $381.45 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.8% change.
- Geographic Revenues- Southern: $439.28 million versus the two-analyst average estimate of $451.49 million. The reported number represents a year-over-year change of -5.9%.
- Revenue Breakdown- E&P Waste Treatment, Recovery and Disposal: $123.57 million versus $83.53 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +110.8% change.
- Revenue Breakdown- Intermodal and Other: $49.10 million compared to the $39.81 million average estimate based on four analysts. The reported number represents a change of +24.4% year over year.
- Revenue Breakdown- Solid Waste Recycling: $63.30 million versus the two-analyst average estimate of $45.98 million. The reported number represents a year-over-year change of +65.2%.
- Revenues- Intercompany: -$327.03 million versus -$316.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
- Revenue Breakdown- Solid Waste Collection: $1.58 billion compared to the $1.63 billion average estimate based on two analysts. The reported number represents a change of +6.6% year over year.
View all Key Company Metrics for Waste Connections here>>>Shares of Waste Connections have returned +3.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.