HighGravityDataWaste Connections — Jul 23, 2025 release
Fiscal 2025 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001558370-25-009445
Showing in the filing
Adjusted EBITDA margin expansion
“50 basis points”
Period
FY2025
Measure
Company-defined measure
Source
Prose
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
“We delivered results above our outlook for the quarter in spite of headwinds from lower-than-expected contributions from higher margin, commodity-related activities and continued sluggishness in the economy, along with tariff-induced uncertainties.” “As anticipated, we have already completed an outsized year of acquisition activity, at approximately $200 million in annualized revenue, with a robust pipeline and almost half of the year still ahead of us. The strength of our financial profile and free cash flow generation keeps us well-positioned for additional acquisitions, while maintaining the flexibility for increased return of capital to shareholders, including through opportunistic share repurchases already underway.” Mr. Mittelstaedt added, “In spite of incremental and growing headwinds, our full year 2025 outlook remains within the ranges from February, providing for approximately 6% revenue growth and 50 basis points of adjusted EBITDA margin expansion to 33.0%. We remain well-positioned for upside from contributions from additional acquisitions, improvements in commodity-related activity and solid waste volumes.” Q2 2025 Results Revenue in the second quarter totaled $2.407 billion, up from $2.248 billion in the year ago period. Operating income was $459.5 million, which included $7.3 million primarily in impairments and other operating items and transaction-related expenses. This compares to operating income of $424.7 million in the second quarter of 2024, which included $15.7 million primarily in impairments and other operating items and transaction-related expenses. Net income in the second quarter was $290.3 million, or $1.12 per share on a diluted basis of 259.0 million shares. In the year ago period, the Company reported net income of $275.5 million, or $1.07 per share on a diluted basis of 258.6 million shares. 1 Adjusted net income (b) in the second quarter was $333.1 million, or $1.29 per diluted share, versus $320.0 million, or $1.24 per diluted share, in the prior year period. Adjusted EBITDA (b) in the second quarter was $786.4 million, as compared to $731.8 mil
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.