Waste Connections, Inc. Q2 2025 Earnings Recap

Waste Connections, Inc. reported Q2 2025 results that exceeded expectations, driven by strong solid waste pricing and operational efficiencies despite ongoing economic challenges.

Key Takeaways

• Revenue growth of 7.1% reflecting a solid 6.6% price increase in core solid waste services, surpassing inflation.
• Adjusted EBITDA margins improved to 32.7%, benefiting from operational improvements and a significant decrease in voluntary turnover.
• Successful acquisition strategy in motion with $200 million in annualized revenue from completed deals and a robust pipeline for further growth.
• Improved safety metrics and employee retention are enhancing operational performance and positioning the company for future volume recovery.
• Full-year outlook remains intact with 6% revenue growth and adjusted EBITDA margin expansion anticipated.