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Waste Connections — Jul 23, 2025 release

Fiscal 2025 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001558370-25-009445
Open on SEC.gov ↗
Showing in the filing
Adjusted Free Cash Flow (High Estimate)
“$1,300,000”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 21
Adjusted EBITDA margin expansion for FY2025
“50 basis points”
Adjusted EBITDA margin for FY2025
“33.0%”
Revenue for FY2025
“approximately $9.450 billion”
Net income for FY2025
“approximately $1.140 billion”
Adjusted EBITDA for FY2025
“approximately $3.120 billion, or about 33.0% of revenue”
Capital expenditures for FY2025
“between $1.200 billion and $1.250 billion”
Net cash provided by operating activities for FY2025
“between $2.483 billion and $2.533 billion”
Adjusted free cash flow for FY2025
“approximately $1.300 billion”
Net income attributable to Waste Connections for FY2025
“$1,140,000”
Income tax provision for FY2025
“367,472”
Effective tax rate for FY2025
“Approximate 24.4% effective rate”
Interest expense, net for FY2025
“322,000”
Depreciation and Depletion for FY2025
“1,031,000”
Depreciation and Depletion (% of revenue) for FY2025
“Approximately 10.9% of revenue”
Amortization for FY2025
“196,000”
Closure and post-closure accretion for FY2025
“48,000”
Net cash provided by operating activities (L… for FY2025
“$2,482,888”
Net cash provided by operating activities (H… for FY2025
“$2,532,888”
Capital expenditures for property and equipm… for FY2025
“(1,200,000)”
Capital expenditures for property and equipm… for FY2025
“(1,250,000)”
Adjusted Free Cash Flow (High Estimate) for FY2025
“$1,300,000”
Exhibit 99.1 · the passage around this item
… earlier in the release
​ ​ ​ ​ ​ ​ Reconciliation of Adjusted Free Cash Flow: ​ ​ ​ ​ ​ ​ ​ ​ ​ Updated 2025 Outlook ​ ​ Low Estimate ​ ​ High Estimate Net cash provided by operating activities $ 2,482,888 ​ $ 2,532,888 Plus:  Change in book overdraft (a) ​ 397 ​ ​ 397 Plus: Proceeds from disposal of assets (a) ​ 5,417 ​ ​ 5,417 Less: Capital expenditures for property and equipment ​ (1,200,000) ​ ​ (1,250,000) Adjustments: (a) ​ ​ ​ ​ ​ Transaction-related expenses ​ 11,161 ​ ​ 11,161 Executive separation costs ​ 2,119 ​ ​ 2,119 Payment of contingent consideration recorded in earnings ​ 400 ​ ​ 400 Pre-existing Progressive Waste share-based grants ​ 16 ​ ​ 16 Tax effect ​ (2,398) ​ ​ (2,398) Adjusted Free Cash Flow $ 1,300,000 ​ $ 1,300,000 ​ ​ ____________________________ Reflects amounts reported for the six month period ended June 30, 2025, as shown on page 10. 12
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.