Dividend Growth and Strong Earnings Might Change the Case for Investing in Waste Connections (WCN)

• Waste Connections, Inc. reported better-than-expected third-quarter results in October 2025, with revenue reaching US$2.46 billion and adjusted earnings per share outperforming analyst forecasts, while also announcing an 11.1% increase in its quarterly dividend to US$0.35 per share, payable November 20.
• The company’s 15th consecutive annual double-digit dividend increase, combined with ongoing acquisition activity and strong margin performance, highlights its consistent shareholder returns and operational resilience in the waste management sector.
• We'll now explore how Waste Connections' robust dividend growth and operating efficiency updates influence its overall investment narrative.

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Waste Connections Investment Narrative Recap

To be a shareholder in Waste Connections, investors need confidence in the company's ability to drive organic growth through pricing power, while integrating acquisitions efficiently to support margins. The recent uptick in quarterly results and dividend growth reinforces the near-term catalyst of robust pricing execution but does not fundamentally alter the biggest risk, whether ongoing acquisition integration can consistently deliver promised synergies without eroding margins.

Among recent developments, Waste Connections' completion of a sizeable $579.11 million share buyback in the past quarter stands out. This move returns capital to shareholders and complements their pattern of rising dividends, yet its impact on the overarching catalyst, profitable growth through both organic trends and acquisition synergy, remains modest for now. On the other hand...

Read the full narrative on Waste Connections (it's free!)

Waste Connections' outlook anticipates $11.3 billion in revenue and $1.7 billion in earnings by 2028. This is based on a projected 7.1% annual revenue growth rate and a $1.1 billion increase in earnings from the current level of $643.8 million.

Uncover how Waste Connections' forecasts yield a $206.77 fair value, a 17% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community users provided two fair value estimates for Waste Connections, ranging from US$206.77 to US$245.75 per share. Many highlight the risk that future earnings could be pressured if the company's aggressive acquisition pace outstrips successful integration, inviting you to explore several alternative viewpoints.

Explore 2 other fair value estimates on Waste Connections - why the stock might be worth just $206.77!

Build Your Own Waste Connections Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Waste Connections research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.
• Our free Waste Connections research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Waste Connections' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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