The following is a summary of the Waste Connections, Inc. (WCN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 revenue reported was $2.338 billion, a 13.3% increase year-over-year.

• Adjusted EBITDA for Q3 was $787.4 million, corresponding to a margin of 33.7%.

• Full year 2024 revenue now estimated at approximately $8.9 billion, an increase from initial outlook by $150 million.

• Adjusted EBITDA for the full year 2024 is estimated at approximately $2.91 billion, up $50 million from initial outlook.

• Leveraging waste volumes and acquisitions including Royal Waste Services led to revenue growth.

Business Progress:

• Strategic acquisition of Royal Waste Services strengthens Waste Connections' position in New York City.

• Accelerated integration and added focus on employee engagement and retention contributing to improved operational metrics.

• Launch of sustainability initiatives targeting emissions and landfill gas recovery, aligning with long-term ESG goals.

• Expect continued investments in growing its operational footprint in line with demand and strategic positioning for 2025.

Opportunities:

• Expansion in New York City through strategic acquisitions and the successful integration provides potential for long-term growth and efficiency.

• Development of renewable natural gas facilities expected online by 2026, enhancing sustainable operations.

Risks:

• Forecasted revenue and EBITDA gains might be tempered by potential market fluctuations in recycled commodity prices and impacts from natural disasters.

• Acquisitions bring integration risks, although they are carefully managed to align with corporate culture and expectations.

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