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Waste Connections Q3 profit falls YOY

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According to Market Intelligence, December 2022

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Waste Connections Q3 profit falls YOY

Waste Connections Inc. said its third-quarter normalized net income was 34 cents per share, a decrease of 5.9% from 36 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $63.1 million, a decline of 7.0% from $67.9 million in the year-earlier period.

The normalized profit margin fell to 11.4% from 12.4% in the year-earlier period.

Total revenue totaled $547.9 million, compared with $546.6 million in the prior-year period, and total operating expenses rose on an annual basis to $428.9 million from $421.5 million.

Reported net income came to a loss of $256.4 million, or a loss of $1.39 per share, compared with income of $59.9 million, or 32 cents per share, in the prior-year period.