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Waste Connections 3Q Revenue Up, Raises Outlook


Waste Connections 3Q Revenue Up, Raises Outlook

Waste Connections said revenue rose in the third quarter as it continued to raise core prices, and raised its revenue outlook for the year.

The Canadian waste management and recycling services company on Wednesday posted a net profit of $308 million, or $1.19 a share, compared with $229 million, or 89 cents a share, for the same period a year earlier.

Stripping out one-time items, earnings per share came in at $1.35. Analysts polled by FactSet had forecast adjusted earnings of $1.30 per share.

Revenue rose to $2.34 billion from $2.07 billion. Wall Street had forecast revenue of $2.30 billion. Solid waste growth was led by a 6.8% core pricing, Chief Executive Ronald Mittelstaedt said.

The company said it now forecasts full-year revenue of $8.9 billion, up from $8.85 billion previously.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

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