Waste Connections (TSX:WCN)(NYSE:WCN) is a Toronto-based company that provides waste collection, transfer, disposal, and recycling services in the United States and Canada. Shares of Waste Connections have climbed 30% in 2021 as of mid-afternoon trading on October 29. The stock is up 2% week over week. Waste collection has proven to be a very reliable source of revenue for investors. This is a stock you can trust for years to come.
The company released its third-quarter 2021 results on October 27. Revenue rose 14.9% year-over-year to $1.59 billion. It benefited from solid waste pricing, higher recycled commodity values, and an improvement in E&P waste activity.
Waste Connections delivered organic growth of 11% including a 7.3% solid waste price increase. Adjusted net income rose to $233 million or $0.89 per diluted share – up from $188 million or $0.72 per diluted share.
Adjusted EBITDA rose to $505 million, representing 31% of revenue. The company has provided full-year 2021 revenue outlook of $6.11 billion and net income of $633 million. Meanwhile, it anticipates adjusted free cash flow of $1.02 billion. Adjusted net income in the first nine months of 2021 rose to $629 million o$ 2.39 per diluted share.
This is up from $517 million or $1.96 per diluted share.
Waste Connections stock possesses a price-to-earnings ratio of 57. On October 27, it boosted its quarterly dividend by 12% to $0.23 per share. That represents a modest 0.6% yield.
