Waste Connections Files Q2 2024 10-Q
Ticker: WCN · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 1318220
| Field | Detail |
|---|---|
| Company | Waste Connections, Inc. (WCN) |
| Form Type | 10-Q |
| Filed Date | Jul 25, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, debt, equity
TL;DR
Waste Connections dropped its Q2 10-Q. Check financials.
AI Summary
Waste Connections, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures related to debt, equity, and other financial instruments are presented.
Why It Matters
This filing provides investors with crucial financial details for Waste Connections, Inc. for the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- 2024-06-30 — Report Date (End of the reporting period for the 10-Q)
- 2023-12-31 — Previous Year End (Comparison point for financial data)
- 2023-06-30 — Prior Year Q2 End (Comparison point for financial data)
Key Players & Entities
- Waste Connections, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — Period of report
- 20240725 (date) — Filing date
- Progressive Waste Solutions Ltd. (company) — Former company name
- IESI-BFC Ltd (company) — Former company name
- BFI Canada Ltd (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 25, 2024.
What were some of Waste Connections, Inc.'s former company names?
Waste Connections, Inc. was formerly known as Progressive Waste Solutions Ltd., IESI-BFC Ltd, and BFI Canada Ltd.
What is the Standard Industrial Classification (SIC) code for Waste Connections, Inc.?
The SIC code for Waste Connections, Inc. is 4953 (Refuse Systems).
What type of credit agreement is mentioned in the filing?
The filing mentions a Revolving Credit Agreement, with a maximum amount noted as of June 30, 2024.
Filing Stats: 4,484 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-07-25 06:03:05
Filing Documents
- wcn-20240630x10q.htm (10-Q) — 3525KB
- wcn-20240630xex31d1.htm (EX-31.1) — 13KB
- wcn-20240630xex31d2.htm (EX-31.2) — 13KB
- wcn-20240630xex32d1.htm (EX-32.1) — 7KB
- wcn-20240630xex32d2.htm (EX-32.2) — 7KB
- wcn-20240630x10q001.jpg (GRAPHIC) — 2KB
- 0001558370-24-010097.txt ( ) — 14898KB
- wcn-20240630.xsd (EX-101.SCH) — 80KB
- wcn-20240630_cal.xml (EX-101.CAL) — 91KB
- wcn-20240630_def.xml (EX-101.DEF) — 384KB
- wcn-20240630_lab.xml (EX-101.LAB) — 585KB
- wcn-20240630_pre.xml (EX-101.PRE) — 623KB
- wcn-20240630x10q_htm.xml (XML) — 3338KB
– FINANCIAL INFORMATION (unaudited)
PART I – FINANCIAL INFORMATION (unaudited) Item 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Net Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 60 Item 4.
Controls and Procedures
Controls and Procedures 62
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 63 Item 6. Exhibits 63
Signatures
Signatures 64 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements WASTE CONNECTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands of U.S. dollars, except share and per share amounts) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and equivalents $ 78,658 $ 78,399 Accounts receivable, net of allowance for credit losses of $ 24,017 and $ 23,553 at June 30, 2024 and December 31, 2023, respectively 961,492 856,953 Prepaid expenses and other current assets 195,557 206,433 Total current assets 1,235,707 1,141,785 Restricted cash 113,748 105,639 Restricted investments 75,490 70,350 Property and equipment, net 7,896,221 7,228,331 Operating lease right-of-use assets 296,092 261,782 Goodwill 7,704,719 7,404,400 Intangible assets, net 1,894,860 1,603,541 Other assets, net 84,689 100,048 Total assets $ 19,301,526 $ 17,915,876 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 663,159 $ 642,455 Book overdraft 16,204 14,855 Deferred revenue 375,626 355,203 Accrued liabilities 569,732 521,428 Current portion of operating lease liabilities 38,434 32,533 Current portion of contingent consideration 97,253 94,996 Current portion of long-term debt and notes payable 10,058 26,462 Total current liabilities 1,770,466 1,687,932 Long-term portion of debt and notes payable 7,696,229 6,724,771 Long-term portion of operating lease liabilities 270,281 238,440 Long-term portion of contingent consideration 20,806 20,034 Deferred income taxes 1,068,671 1,022,480 Other long-term liabilities 491,855 524,438 Total liabilities 11,318,308 10,218,095 Commitments and contingencies (Note 18) Equity: Common shares: 258,023,240 shares issued and 257,965,548 shares outstanding at June 30, 2024; 257,659,921 shares issued and 257,600,479 shares outstanding at December 31, 2023 3,279,130 3,276,661 Additional paid-in capital 290,792 284,