Waste Connections beats second quarter 2026 estimates and raises full-year 2026 outlook, driven by margin expansion.

Waste Connections reported second quarter 2026 revenue of $2.562 billion, up 6.4% year-over-year, and adjusted EPS of $1.50. The company's adjusted EBITDA grew 6.8% to $840.1 million, exceeding expectations.

Key Highlights

• The company raised its full-year 2026 outlook to revenue of $10.02 billion to $10.05 billion and adjusted EBITDA of $3.33 billion to $3.34 billion.
• Adjusted EBITDA margin expanded to 32.8%, representing 70 basis points of underlying margin expansion that overcame fuel and other cost pressures.
• Solid waste internal growth was driven by core pricing of 5.6%, while the company also repurchased a record $614.5 million in shares year-to-date.