As the company enters its 25th anniversary year, Waste Connections (WC) reported a ‘better than expected’ Q1 2022 on accelerated acquisition activity and volume growth.
CEO and President Worthing F. Jackman said that $175 million in annualized revenues have closed to date, which the company expects to be “another outsized year of such activity, for which we remain well-positioned.”
Although inflationary pressures continue to challenge the waste and recycling industry, solid waste pricing growth has been the catalyst for underlying margin expansion. Still, the Texas-based waste services provider saw a 50 basis point year-over-year decline in adjusted EBITDA in Q1, with a 90 basis points combined margin impact due to $10 million of frontline pandemic-related support distributed in January and a completed acquisition.
