The following is a summary of the Waste Connections, Inc. (WCN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Waste Connections reported a Q1 revenue of $2.073 billion, $23 million above projected due to higher acquisition contributions and commodity values.

• Adjusted EBITDA stood at $650.7 million, a year-over-year increase of 14.8%.

• Company noted improved operational trends, expecting a financially strong year and a record year for M&A.

• Acquisitions added approximately $375 million to annualized revenue.

• Additional $80 to $90 million revenue expected due to incremental deal activity.

Business Progress:

• The company reported progress in employee retention and safety, expected to result in cost savings.

• Development of various renewable gas (RNG) facilities ongoing, three to be operational this year.

• Expected volume decrease in Q2 seen as margin opportunity due to continuous M&A.

• Reduced open headcount by 46%, aims to lower voluntary turnover by year-end.

• Aiming to hire one third of workforce internally, reducing dependence on open market employment.

• Actively capitalizing on PFAS regulation opportunities and enhancing Arrowhead asset utilization.

• Successfully filled key roles internally, launched pilot projects like electric trucks in NYC.

• Acquisitions' profits were accretive, with WasteAway contributing over half of the extra $150 million revenue.

• Chiquita Canyon landfill remediation process ahead of schedule, demonstrating environmental responsibility.

More details: Waste Connections IR

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