What happened?
Shares of waste management company Waste Connections (NYSE:WCN) jumped 9.6% in the afternoon session after the company reported third-quarter 2026 financial results above expectations and raised its full-year outlook for revenue and adjusted EBITDA.
According to a company press release, Waste Connections generated revenue of $2.638 billion and net income of $359.2 million for the quarter. Adjusted EBITDA reached $895.8 million, representing 34.0% of revenue, and adjusted earnings per share was $1.58. Following the results, management raised its full-year 2026 outlook for revenue and adjusted EBITDA for the second time. In addition, the company declared a regular quarterly cash dividend of $0.385 per share, a 10.0% increase from $0.350 per share, payable on November 19, 2026, to shareholders of record on November 5, 2026.
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What is the market telling us
Waste Connections's shares are not very volatile and have only had 3 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Waste Connections is up 6.6% since the beginning of the year, and at $185.54 per share, it has set a new 52-week high. Investors who bought $1,000 worth of Waste Connections's shares 5 years ago would now be looking at an investment worth $1,382.
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