Why Waste Connections Stock Is Up Today

Waste Connections shares jumped 10.45% on Thursday after the company raised cash payouts and posted solid third-quarter results. Revenue increased 7% year over year to $2.6 billion, supported by Waste Connections’ growth-through-acquisitions model and pricing power in exclusive and secondary markets. Management projects this year’s completed acquisitions will add about $130 million in annualized revenue. Adjusted net income rose 7% to $399 million, while earnings per share increased 10% to $1.58, beating Wall Street’s $1.52 estimate. The company lifted its full-year outlook to $10.1 billion revenue, $1.2 billion net income, and adjusted free cash flow above $1.4 billion, and increased its quarterly dividend 10% to $0.385 per share.