Waste Connections Posts Q2 Profit

(RTTNews) - Waste Connections Inc. (WCN) Wednesday reported second-quarter net income of $177.0 million or $0.68 per share, compared with last year's loss of $227.1 million or $0.86 per share.

Adjusted income in the quarter was $210.9 million or $0.81 per share, up from $158.0 million or $0.60 per share last year.

Revenues for the quarter rose to $1.53 billion from $1.31 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.77 per share on revenues of $1.49 billion. Analysts' estimates typically exclude special items.

Looking forward to full year 2021, the company now expects revenues of about $5.975 billion, as compared to its original revenue outlook of around $5.800 billion. Analysts currently estimate revenues of $5.96 billion.

The company now expects net income to be about $690 million and adjusted EBITDA of $1.875 billion, as compared to its original adjusted EBITDA outlook of $1.800 billion.