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Guidance history, every release

Waste Connections (WCN) · 8 releases, Oct 23, 2024 to Jul 22, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Oct 23, 2024 FY24 Q3	Feb 12, 2025 FY24 Q4	Apr 23, 2025 FY25 Q1	Jul 23, 2025 FY25 Q2	Oct 21, 2025 FY25 Q3	Feb 11, 2026 FY25 Q4	Apr 22, 2026 FY26 Q1	Jul 22, 2026 FY26 Q2
For FY2026
Revenue	—	—	—	—	—	New“$9.90 billion to $9.95 billion”	—	Raised“between $10.02 billion to $10.05 billion”
Adjusted EBITDA	—	—	—	—	—	New“$3.300 billion to $3.325 billion”	—	Raised“between $3.33 billion and $3.34 billion”
Net income	—	—	—	—	—	New“$1.223 billion to $1.238 billion”	—	Lowered“between $1.169 billion and $1.173 billion”
Adjusted free cash flow	—	—	—	—	—	New“$1.40 billion to $1.45 billion, up 11.2% to 15.1% year over year”	—	Reiterated“between $1.40 billion and $1.45 billion”
Capital expenditures	—	—	—	—	—	New“approximately $1.25 billion”	—	Reiterated“approximately $1.25 billion”
Effective tax rate	—	—	—	—	—	—	—	New“Approximately 23.1%”
Net cash provided by operating activities	—	—	—	—	—	New“$2.65 billion to $2.70 billion”	—	Lowered“between $2.63 billion and $2.68 billion”
For FY2025
Adjusted EBITDA, as % of revenue	—	New“Approximately 33.0% - 33.3% of revenue”	—	—	—	—	—	—
Depreciation and Depletion (% of revenue)	—	—	—	New“Approximately 10.9% of revenue”	—	—	—	—
Depreciation and Depletion, as % of revenue	—	New“Approximately 10.9% - 11.0% of revenue”	—	—	—	—	—	—
Revenue	—	New“$9.450 billion and $9.600 billion”	—	Lowered“approximately $9.450 billion”	—	—	—	—
Rollover revenue contribution from acquisitions	New“approximately 2%”	—	—	—	—	—	—	—
Adjusted EBITDA	—	—	—	New“approximately $3.120 billion, or about 33.0% of revenue”	—	—	—	—
Adjusted EBITDA margin	—	New“between 33.0% and 33.3% of revenue, up 50 to 80 basis points year over year”	—	Lowered“33.0%”	—	—	—	—
Adjusted EBITDA margin expansion	—	New“of up to 80 basis points, or 33.3%”	—	Changed“50 basis points”	—	—	—	—
Net income	—	New“$1.186 billion and $1.224 billion”	—	Lowered“approximately $1.140 billion”	—	—	—	—
Net income attributable to Waste Connections	—	—	—	New“$1,140,000”	—	—	—	—
Adjusted free cash flow	—	New“$1.300 billion and $1.350 billion”	—	Lowered“approximately $1.300 billion”	—	—	—	—
Adjusted Free Cash Flow (High Estimate)	—	—	—	New“$1,300,000”	—	—	—	—
Amortization	—	—	—	New“196,000”	—	—	—	—
Capital expenditures	—	New“$1.200 billion and $1.225 billion, including $100 million to $150 million for RNG facilities”	—	Widened“between $1.200 billion and $1.250 billion”	—	—	—	—
Capital expenditures for property and equipment (High Estimate)	—	—	—	New“(1,250,000)”	—	—	—	—
Capital expenditures for property and equipment (Low Estimate)	—	—	—	New“(1,200,000)”	—	—	—	—
Closure and post-closure accretion	—	—	—	New“48,000”	—	—	—	—
Depreciation and Depletion	—	—	—	New“1,031,000”	—	—	—	—
Effective tax rate	—	—	—	New“Approximate 24.4% effective rate”	—	—	—	—
Income tax provision	—	—	—	New“367,472”	—	—	—	—
Income tax provision - effective rate	—	New“Approximate 24.0% effective rate”	—	—	—	—	—	—
Interest expense, net	—	—	—	New“322,000”	—	—	—	—
Net cash provided by operating activities	—	New“$2.500 billion and $2.575 billion”	—	Lowered“between $2.483 billion and $2.533 billion”	—	—	—	—
Net cash provided by operating activities (High Estimate)	—	—	—	New“$2,532,888”	—	—	—	—
Net cash provided by operating activities (Low Estimate)	—	—	—	New“$2,482,888”	—	—	—	—
For FY2024
Acquisitions annualized revenue pace	New“over $700 million”	—	—	—	—	—	—	—
Revenue	New“approximately $8.9 billion, up $150 million from our original outlook”	—	—	—	—	—	—	—
Adjusted EBITDA	New“approximately $2.910 billion, up $50 million from our original outlook”	—	—	—	—	—	—	—
Net income	New“approximately $1.082 billion”	—	—	—	—	—	—	—
Adjusted free cash flow	New“approximately $1.200 billion, in line with our original outlook”	—	—	—	—	—	—	—
Capital expenditures	New“approximately $1.150 billion, in line with our original outlook”	—	—	—	—	—	—	—
Net cash provided by operating activities	New“approximately $2.342 billion”	—	—	—	—	—	—	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.