Waste Connections Analysts Increase Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Waste Connections, Inc. (NYSE:WCN) reported Q4 earnings of $1.11 per share, surpassing estimates of $1.09. Sales reached $2.04 billion, exceeding expectations of $2.03 billion. The company anticipates significant growth in 2024, including a 120 basis points EBITDA margin expansion and potential revenue growth from acquisitions. Waste Connections plans to offer senior notes in a public offering. Shares rose 0.3% to $164.63. RBC Capital and BMO Capital raised their price targets for WCN following these results.
February 15, 2024 | 6:13 pm
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POSITIVE IMPACT
Waste Connections reported higher-than-expected Q4 earnings and sales, anticipates strong growth in 2024, and plans a public offering of senior notes. Shares increased slightly, and analysts raised price targets.
The positive earnings report and optimistic outlook for 2024, along with the strategic move to offer senior notes, contribute to a positive short-term impact. The increase in share price and raised price targets by analysts further support this outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100