Waste Connections, Inc. (WCN)

In the past six months, Waste Connections' stock has experienced some fluctuations. As of early February 2026, the stock decreased by 4.27% in the past month and has delivered a -11.17% change over the past year. The 52-week range for the stock has been between $162.06 and $201.66. Key events include the Third Quarter 2025 Earnings Report, which reported revenue of $2.458 billion, net income of $286.3 million, and adjusted net income of $372.0 million. The company increased its regular quarterly dividend by 11.1% and completed share repurchases of approximately 1% of shares outstanding. Year-to-date acquisitions as of Q3 2025 contributed approximately $300 million in annualized revenue. Waste Connections faced weak volume trends and headwinds from declining recycled commodity prices. Waste Connections is expected to post its Q4 2025 results after the market closes on Wednesday, February 11, 2026.

Waste Connections experiences natural seasonality in the demand for its products and services. Volumes tend to pick up meaningfully in the third quarter, but in Q3 2025, volume growth was less than half the typical increase. The company generally sees a seasonal step down in margins during the first and second quarters of the year. This seasonality can be influenced by factors such as construction and demolition work, which impacts roll-off volumes.

Waste Connections, Inc. is an integrated solid waste services company focused on non-hazardous waste collection, transfer, disposal, and recycling. It operates in the Business Services sector, specifically in the Environmental & Facilities Services industry, focusing on Waste Removal Services. The company also provides services for non-hazardous waste from oil and natural gas exploration and production, as well as intermodal services in the Pacific Northwest. Waste Connections dominates secondary and rural markets, leading to higher margins.

Waste Connections, Inc. is the third-largest solid waste and recycling company in North America, operating in 46 states across the United States and six provinces in Canada. The company's operations span nationwide, from coast to coast and border to border in the U.S.

Waste Connections has demonstrated strong operational performance, including improved employee retention and new record low safety incident rates, which positively contribute to its reputation. However, the Elevated Temperature Landfill Event at its Chiquita Canyon Landfill has impacted the company's reputation and operations, requiring significant remediation spending.

The ownership structure of Waste Connections stock includes institutional, retail, and individual investors. Approximately 41.39% of the company's stock is owned by Institutional Investors, 0.22% by Insiders, and 58.39% by Public Companies and Individual Investors. Major institutional owners include Vanguard Group Inc., Royal Bank of Canada, Fmr Llc, Bank of Montreal, BlackRock, Inc., Wcm Investment Management, Llc, Mackenzie Financial Corp, Capital International Investors, Montrusco Bolton Investments Inc., and UBS Group AG.