Recent Insider Transactions • May 20
Founder recently bought €6.5m worth of stock On the 12th of May, Ronald Mittelstaedt bought around 50k shares on-market at roughly €130 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ronald has been a buyer over the last 12 months, purchasing a net total of €13m worth in shares. Announcement • Apr 24
Waste Connections Announces Regular Quarterly Cash Dividend, Payable on May 21, 2026 Waste Connections, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.35 per common share of the Company. The regular quarterly cash dividend will be paid on May 21, 2026 to shareholders of record at the close of business on May 6, 2026. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend. Announcement • Mar 26
Waste Connections, Inc. to Report Q1, 2026 Results on Apr 22, 2026 Waste Connections, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 22, 2026 Announcement • Mar 19
Waste Connections, Inc. Appoints Daniel L. Florness to Its Board of Directors, Effective April 1, 2026 Waste Connections, Inc. announced that Daniel L. Florness has been appointed to its Board of Directors, effective April 1, 2026. Mr. Florness, age 62, currently serves as the Chief Executive Officer and a member of the board of directors for Fastenal Company, positions he has held since 2016. He previously served as Fastenal’s President and Chief Executive Officer from 2016 to 2024, Executive Vice President and Chief Financial Officer from 2002 to 2015, and Chief Financial Officer from 1996 to 2002. Prior to joining Fastenal, Mr. Florness served in a variety of positions, including Senior Manager, with KPMG LLP from 1986 to 1996. Mr. Florness earned an undergraduate degree in accounting from the University of Wisconsin – River Falls. Mr. Florness has announced his intention to step out of his role as Fastenal’s CEO and resign from its Board effective July 16, 2026. Announcement • Feb 17
Waste Connections, Inc., Annual General Meeting, May 15, 2026 Waste Connections, Inc., Annual General Meeting, May 15, 2026. Location: the woodlands, texas United States Announcement • Jan 15
Waste Connections, Inc. to Report Q4, 2025 Results on Feb 11, 2026 Waste Connections, Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 11, 2026 Announcement • Oct 22
Waste Connections, Inc. Announces Increase in Quarterly Dividend, Payable on November 20, 2025 Waste Connections, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend on the Company's common shares and approved an 11.1% increase in the dividend. The regular quarterly cash dividend, which increases to $0.35 per common share of the Company from $0.315 per common share of the Company, will be paid on November 20, 2025 to shareholders of record on the close of business on November 5, 2025. Announcement • Sep 25
Waste Connections, Inc. to Report Q3, 2025 Results on Oct 21, 2025 Waste Connections, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 21, 2025 Announcement • Jul 31
Waste Connections, Inc. Announces Retirement of Darrell W. Chambliss from Executive Vice President and Chief Operating Officer on July 24, 2025 On July 24, 2025, Waste Connections, Inc. announced the retirement of Darrell W. Chambliss from the position of Executive Vice President and Chief Operating Officer of the Company, a position he has held since 2003. In connection with the transition of his responsibilities, Mr. Chambliss will assume a new role as Senior Advisor. The Company anticipates appointing Mr. Chambliss’ successor in due course. Announcement • Jul 01
Waste Connections, Inc. to Report Q2, 2025 Results on Jul 23, 2025 Waste Connections, Inc. announced that they will report Q2, 2025 results After-Market on Jul 23, 2025 Announcement • Apr 24
Waste Connections, Inc. Announces Regular Quarterly Cash Dividend, Payable on May 22, 2025 Waste Connections, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of USD 0.315 per common share of the Company. The regular quarterly cash dividend will be paid on May 22, 2025 to shareholders of record at the close of business on May 7, 2025. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend. Announcement • Mar 28
Waste Connections, Inc. to Report Q1, 2025 Results on Apr 23, 2025 Waste Connections, Inc. announced that they will report Q1, 2025 results After-Market on Apr 23, 2025 Announcement • Feb 24
Waste Connections, Inc., Annual General Meeting, May 16, 2025 Waste Connections, Inc., Annual General Meeting, May 16, 2025. Location: texas, thewoodlands United States Announcement • Jan 11
Waste Connections, Inc. to Report Q4, 2024 Results on Feb 12, 2025 Waste Connections, Inc. announced that they will report Q4, 2024 results After-Market on Feb 12, 2025 Declared Dividend • Oct 28
Third quarter dividend of US$0.32 announced Shareholders will receive a dividend of US$0.32. Ex-date: 7th November 2024 Payment date: 21st November 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 16% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$1.19 (vs US$0.89 in 3Q 2023) Third quarter 2024 results: EPS: US$1.19 (up from US$0.89 in 3Q 2023). Revenue: US$2.34b (up 13% from 3Q 2023). Net income: US$308.0m (up 35% from 3Q 2023). Profit margin: 13% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year and the company’s share price has also increased by 13% per year. Announcement • Sep 24
Waste Connections, Inc. to Report Q3, 2024 Results on Oct 23, 2024 Waste Connections, Inc. announced that they will report Q3, 2024 results After-Market on Oct 23, 2024 Recent Insider Transactions • Sep 06
Independent Director recently sold €1.3m worth of stock On the 3rd of September, Edward Guillet sold around 8k shares on-market at roughly €167 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €2.7m. Insiders have been net sellers, collectively disposing of €12m more than they bought in the last 12 months. Recent Insider Transactions • Aug 04
Executive VP & CFO recently sold €2.7m worth of stock On the 31st of July, Mary Whitney sold around 16k shares on-market at roughly €165 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Mary's only on-market trade for the last 12 months. Declared Dividend • Jul 29
Second quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 7th August 2024 Payment date: 22nd August 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.3%. Payout Ratios Payout ratio: 33%. Cash payout ratio: 23%. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: US$1.07 (vs US$0.81 in 2Q 2023) Second quarter 2024 results: EPS: US$1.07 (up from US$0.81 in 2Q 2023). Revenue: US$2.25b (up 11% from 2Q 2023). Net income: US$275.5m (up 32% from 2Q 2023). Profit margin: 12% (up from 10% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Announcement • Jun 25
Waste Connections, Inc. to Report Q2, 2024 Results on Jul 24, 2024 Waste Connections, Inc. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024 Announcement • May 03
Waste Connections, Inc. (NYSE:WCN) acquired Pioneer Recycling Services, LLC from Delos Capital Management, LP and The Silverfern Group, Inc. Waste Connections, Inc. (NYSE:WCN) acquired Pioneer Recycling Services, LLC from Delos Capital Management, LP and The Silverfern Group, Inc. on May 2, 2024. Stifel served as exclusive financial advisor and Cole Schotz served as legal advisor to Pioneer.Waste Connections, Inc. (NYSE:WCN) completed the acquisition of Pioneer Recycling Services, LLC from Delos Capital Management, LP and The Silverfern Group, Inc. on May 2, 2024. Declared Dividend • Apr 29
First quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 7th May 2024 Payment date: 23rd May 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$0.89 (vs US$0.77 in 1Q 2023) First quarter 2024 results: EPS: US$0.89 (up from US$0.77 in 1Q 2023). Revenue: US$2.07b (up 9.1% from 1Q 2023). Net income: US$230.1m (up 16% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. Announcement • Apr 25
Waste Connections, Inc. Announces Regular Quarterly Cash Dividend, Payable on May 23, 2024 Waste Connections, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.285 per common share of the Company. The regular quarterly cash dividend will be paid on May 23, 2024 to shareholders of record at the close of business on May 8, 2024. Announcement • Mar 28
Waste Connections, Inc. to Report Q1, 2024 Results on Apr 24, 2024 Waste Connections, Inc. announced that they will report Q1, 2024 results After-Market on Apr 24, 2024 Announcement • Feb 27
Waste Connections, Inc., Annual General Meeting, May 17, 2024 Waste Connections, Inc., Annual General Meeting, May 17, 2024. Location: TheWoodlands, TX The Woodlands Texas United States Recent Insider Transactions • Feb 25
Executive VP recently sold €1.4m worth of stock On the 20th of February, Patrick Shea sold around 9k shares on-market at roughly €155 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.0m more than they bought in the last 12 months. Announcement • Feb 21
Waste Connections, Inc. Appoints Carl D. Sparks to Board of Directors, Effective March 1, 2024 Waste Connections, Inc. announced that Carl D. Sparks has been appointed to its Board of Directors, effective March 1, 2024. Mr. Sparks, 56, has served as the managing partner of Interlock Partners, a venture capital firm focused on early-stage transformative investments, since 2020. Mr. Sparks has also served on the board of directors of Copart Inc. since 2021, and the board of directors of Cint Group AB since 2022. From 2016 to 2017, Mr. Sparks was the chief executive officer of Academic Partnerships, a firm that helped public universities offer their programs online. From 2011 to 2014, Mr. Sparks served as the chief executive officer of Travelocity Global. Earlier in his career, Mr. Sparks served in senior executive roles at the Gilt Groupe, including President, and before that he was the chief marketing officer of Expedia.com, a division of Expedia, Inc., among other senior executive roles he held there between 2004 and 2009. Mr. Sparks started his career in strategy consulting with Boston Consulting Group. Mr. Sparks previously served on the boards of directors of Dunkin' Brands Group, Inc., Avis Budget Group, where he also served as chairman of the audit committee, and Vonage. Mr. Sparks holds a bachelor's degree from Princeton University and an MBA from Harvard Business School. Upcoming Dividend • Feb 20
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 27 February 2024. Payment date: 13 March 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.5%). Declared Dividend • Feb 19
Fourth quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 27th February 2024 Payment date: 13th March 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.3%. Payout Ratios Payout ratio: 35%. Cash payout ratio: 25%. Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: US$2.96 (vs US$3.25 in FY 2022) Full year 2023 results: EPS: US$2.96 (down from US$3.25 in FY 2022). Revenue: US$8.02b (up 11% from FY 2022). Net income: US$762.8m (down 8.7% from FY 2022). Profit margin: 9.5% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Jan 09
Waste Connections, Inc. to Report Q4, 2023 Results on Feb 13, 2024 Waste Connections, Inc. announced that they will report Q4, 2023 results After-Market on Feb 13, 2024 New Risk • Nov 05
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €1.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (89% net debt to equity). Significant insider selling over the past 3 months (€1.3m sold). Upcoming Dividend • Oct 31
Upcoming dividend of US$0.28 per share at 0.8% yield Eligible shareholders must have bought the stock before 07 November 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.8%). New Risk • Oct 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.7% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$0.89 (vs US$0.92 in 3Q 2022) Third quarter 2023 results: EPS: US$0.89 (down from US$0.92 in 3Q 2022). Revenue: US$2.06b (up 9.8% from 3Q 2022). Net income: US$229.0m (down 3.3% from 3Q 2022). Profit margin: 11% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Oct 26
Waste Connections, Inc. Increases Regular Quarterly Cash Dividend, Payable on November 28, 2023 Waste Connections, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend on the Company's common shares and approved an 11.8% increase in the dividend. The regular quarterly cash dividend, which increases to $0.285 U.S. per common share of the Company from $0.255 U.S. per common share of the Company, will be paid on November 28, 2023 to shareholders of record on the close of business on November 8, 2023. Announcement • Sep 26
Waste Connections, Inc. to Report Q3, 2023 Results on Oct 25, 2023 Waste Connections, Inc. announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Upcoming Dividend • Aug 08
Upcoming dividend of US$0.26 per share at 0.7% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 30 August 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.3%). Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.81 (vs US$0.87 in 2Q 2022) Second quarter 2023 results: EPS: US$0.81 (down from US$0.87 in 2Q 2022). Revenue: US$2.02b (up 11% from 2Q 2022). Net income: US$209.2m (down 6.6% from 2Q 2022). Profit margin: 10% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Waste Connections, Inc. to Report Q2, 2023 Results on Aug 02, 2023 Waste Connections, Inc. announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Upcoming Dividend • May 02
Upcoming dividend of US$0.26 per share at 0.7% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.5%). Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$0.77 (vs US$0.70 in 1Q 2022) First quarter 2023 results: EPS: US$0.77 (up from US$0.70 in 1Q 2022). Revenue: US$1.90b (up 15% from 1Q 2022). Net income: US$197.8m (up 9.7% from 1Q 2022). Profit margin: 10% (in line with 1Q 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 09
Independent Director recently sold €381k worth of stock On the 6th of March, William Razzouk sold around 3k shares on-market at roughly €127 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.1m more than they bought in the last 12 months. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.26 per share at 0.8% yield Eligible shareholders must have bought the stock before 28 February 2023. Payment date: 15 March 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.5%). Announcement • Feb 17
Waste Connections, Inc. Provides Earnings Guidance for 2023 Waste Connections, Inc. provided earnings guidance for 2023. For the period, the company's Revenue is estimated at approximately $8.050 billion; Net income is estimated at approximately $961 million. Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: US$3.25 (vs US$2.37 in FY 2021) Full year 2022 results: EPS: US$3.25 (up from US$2.37 in FY 2021). Revenue: US$7.21b (up 17% from FY 2021). Net income: US$835.7m (up 35% from FY 2021). Profit margin: 12% (up from 10.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Waste Connections Announces Regular Quarterly Cash Dividend, Payable on March 15, 2023 Waste Connections, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of USD 0.255 per common share of the Company. The regular quarterly cash dividend will be paid on March 15, 2023 to shareholders of record at the close of business on March 1, 2023. The Board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend. Shareholders of Waste Connections whose common shares are held by a bank or broker that participates in U.S. depositary DTC will receive payment of their dividends in U.S. dollars. Shareholders of Waste Connections whose common shares are held by a bank or broker that participates in Canadian depositary CDS will receive payment of their dividends in Canadian dollars, calculated based on the Bank of Canada's daily average exchange rate on March 1, 2023. Shareholders of Waste Connections who hold their shares in direct registration with Computershare, the Company's transfer agent, will receive payment of their dividends in Canadian dollars if they are residents of Canada, as reflected in Waste Connections' shareholders register, and will receive their dividend payments in U.S. dollars if they are not residents of Canada, including if they are residents of the U.S. Announcement • Jan 06
Waste Connections, Inc. to Report Q4, 2022 Results on Feb 15, 2023 Waste Connections, Inc. announced that they will report Q4, 2022 results After-Market on Feb 15, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Elise Jordan was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 10
Senior VP & Chief Information Officer recently sold €548k worth of stock On the 7th of November, Eric Hansen sold around 4k shares on-market at roughly €137 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.0m. Insiders have been net sellers, collectively disposing of €3.8m more than they bought in the last 12 months. Upcoming Dividend • Nov 08
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 15 November 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.3%). Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.92 (vs US$0.44 in 3Q 2021) Third quarter 2022 results: EPS: US$0.92 (up from US$0.44 in 3Q 2021). Revenue: US$1.88b (up 18% from 3Q 2021). Net income: US$236.9m (up 107% from 3Q 2021). Profit margin: 13% (up from 7.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% per year. Recent Insider Transactions • Sep 13
Executive VP recently sold €1.0m worth of stock On the 8th of September, Patrick Shea sold around 7k shares on-market at roughly €146 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.2m. Insiders have been net sellers, collectively disposing of €5.0m more than they bought in the last 12 months. Recent Insider Transactions • Aug 11
Chief Tax Officer & Senior VP recently sold €1.2m worth of stock On the 5th of August, Matthew Black sold around 9k shares on-market at roughly €136 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.0m more than they bought in the last 12 months. Upcoming Dividend • Aug 10
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 17 August 2022. Payment date: 01 September 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.7%). Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$0.87 (vs US$0.68 in 2Q 2021) Second quarter 2022 results: EPS: US$0.87 (up from US$0.68 in 2Q 2021). Revenue: US$1.82b (up 18% from 2Q 2021). Net income: US$224.1m (up 27% from 2Q 2021). Profit margin: 12% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 9.7%, compared to a 6.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Elise Jordan was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buying Opportunity • Jul 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.7%. The fair value is estimated to be €153, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Buying Opportunity • Jun 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be €141, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Upcoming Dividend • May 10
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 17 May 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.1%). Reported Earnings • May 05
First quarter 2022 earnings released: EPS: US$0.69 (vs US$0.61 in 1Q 2021) First quarter 2022 results: EPS: US$0.69 (up from US$0.61 in 1Q 2021). Revenue: US$1.65b (up 18% from 1Q 2021). Net income: US$180.3m (up 13% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Mar 09
Now 20% undervalued Over the last 90 days, the stock is up 2.9%. The fair value is estimated to be US$152, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% per annum over the last 3 years. Earnings per share has declined by 5.6% per annum over the last 3 years. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 01 March 2022. Payment date: 16 March 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (2.7%). Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.37 (up from US$0.78 in FY 2020). Revenue: US$6.15b (up 13% from FY 2020). Net income: US$618.0m (up 202% from FY 2020). Profit margin: 10.0% (up from 3.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Recent Insider Transactions • Nov 23
Insider recently sold €152k worth of stock On the 18th of November, Jason Craft sold around 1k shares on-market at roughly €122 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.5m. Insiders have been net sellers, collectively disposing of €8.5m more than they bought in the last 12 months. Recent Insider Transactions • Nov 04
COO & Executive VP recently sold €1.5m worth of stock On the 1st of November, Darrell Chambliss sold around 12k shares on-market at roughly €117 per share. This was the largest sale by an insider in the last 3 months. This was Darrell's only on-market trade for the last 12 months. Upcoming Dividend • Nov 01
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 08 November 2021. Payment date: 23 November 2021. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.2%). Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS US$0.44 (vs US$0.60 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$1.60b (up 15% from 3Q 2020). Net income: US$114.4m (down 28% from 3Q 2020). Profit margin: 7.2% (down from 11% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Recent Insider Transactions • Aug 15
Insider recently sold €1.4m worth of stock On the 11th of August, David Hall sold around 13k shares on-market at roughly €107 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €8.7m more than they bought in the last 12 months. Upcoming Dividend • Aug 10
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 01 September 2021. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.1%). Announcement • Aug 06
Waste Connections, Inc. Revises Earnings Guidance for the Year 2021 Waste Connections, Inc. revised earnings guidance for the year 2021. For the year, revenue is estimated to be approximately $5.975 billion, as compared to original revenue outlook of approximately $5.800 billion. Net income is estimated to be approximately $690 million, or about 31.4% of revenue. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS US$0.68 (vs US$0.86 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$1.53b (up 18% from 2Q 2020). Net income: US$177.0m (up US$404.1m from 2Q 2020). Profit margin: 12% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Jul 20
Waste Connections, Inc. (NYSE:WCN) acquired Act Disposal, LLC. Waste Connections, Inc. (NYSE:WCN) acquired Act Disposal, LLC on July 1, 2021. Generational Equity Advises ACT Disposal in its Sale to Waste Connections, Inc. Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team lead by Managing Director, M&A, Luan Ly, successfully closed the deal. Senior Managing Director, Joe Van Voorhis, established the original relationship with ACT.
Waste Connections, Inc. (NYSE:WCN) completed the acquisition of Act Disposal, LLC on July 1, 2021. Recent Insider Transactions • Jun 12
Executive VP recently sold €1.1m worth of stock On the 9th of June, Patrick Shea sold around 11k shares on-market at roughly €98.76 per share. In the last 3 months, there was an even bigger sale from another insider worth €3.5m. Insiders have been net sellers, collectively disposing of €12m more than they bought in the last 12 months. Recent Insider Transactions • May 06
Chief Accounting Officer & Senior VP recently sold €3.5m worth of stock On the 3rd of May, David Eddie sold around 35k shares on-market at roughly €99.44 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €12m more than they bought in the last 12 months. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS US$0.61 (vs US$0.54 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: US$1.40b (up 3.2% from 1Q 2020). Net income: US$160.3m (up 12% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. 
