Waste Connections, Inc. Files 10-Q for Period Ending March 31, 2024

Ticker: WCN · Form: 10-Q · Filed: 2024-04-25T00:00:00.000Z

Sentiment: neutral

Topics: Waste Connections, 10-Q, Financial Report, Q1 2024, Balance Sheet

TL;DR

<b>Waste Connections, Inc. has filed its Q1 2024 10-Q report, detailing financial positions and instruments.</b>

AI Summary

Waste Connections, Inc. (WCN) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Waste Connections, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing references various financial instruments including revolving credit agreements and interest rate swaps. Key balance sheet components such as retained earnings, noncontrolling interest, and additional paid-in capital are detailed as of March 31, 2024. The company's former names include Progressive Waste Solutions Ltd., IESI-BFC Ltd, and BFI Canada Ltd. The filing includes information on restricted stock units and deferred share units.

Why It Matters

For investors and stakeholders tracking Waste Connections, Inc., this filing contains several important signals. This 10-Q provides an updated snapshot of Waste Connections' financial health and operational activities for the first quarter of 2024, crucial for investors assessing performance and future outlook. The detailed financial instrument and balance sheet information allows stakeholders to understand the company's capital structure, risk management strategies (e.g., interest rate swaps), and equity components.

Risk Assessment

Risk Level: medium — Waste Connections, Inc. shows moderate risk based on this filing. The company operates in the highly regulated waste management industry, which can lead to significant compliance costs and potential legal challenges, as indicated by the numerous financial instruments and balance sheet details.

Analyst Insight

Investors should review the detailed financial statements and disclosures in this 10-Q to understand Waste Connections' current financial standing and any potential impacts from its debt and equity structures.

Key Numbers

Key Players & Entities

FAQ

When did Waste Connections, Inc. file this 10-Q?

Waste Connections, Inc. filed this Quarterly Report (10-Q) with the SEC on April 25, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Waste Connections, Inc. (WCN).

Where can I read the original 10-Q filing from Waste Connections, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Waste Connections, Inc..

What are the key takeaways from Waste Connections, Inc.'s 10-Q?

Waste Connections, Inc. filed this 10-Q on April 25, 2024. Key takeaways: Waste Connections, Inc. filed a 10-Q report for the period ending March 31, 2024.. The filing references various financial instruments including revolving credit agreements and interest rate swaps.. Key balance sheet components such as retained earnings, noncontrolling interest, and additional paid-in capital are detailed as of March 31, 2024..

Is Waste Connections, Inc. a risky investment based on this filing?

Based on this 10-Q, Waste Connections, Inc. presents a moderate-risk profile. The company operates in the highly regulated waste management industry, which can lead to significant compliance costs and potential legal challenges, as indicated by the numerous financial instruments and balance sheet details.

What should investors do after reading Waste Connections, Inc.'s 10-Q?

Investors should review the detailed financial statements and disclosures in this 10-Q to understand Waste Connections' current financial standing and any potential impacts from its debt and equity structures. The overall sentiment from this filing is neutral.

Risk Factors

Key Dates

Glossary

10-Q
A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and position between annual reports.)
Restricted Stock Units (RSUs)
A form of equity compensation where shares are granted but subject to vesting conditions. (Indicates a component of executive and employee compensation and potential future share dilution.)
Deferred Share Units (DSUs)
Similar to RSUs, these units represent the future value of company stock, often used in deferred compensation plans. (Reflects long-term incentive plans and potential future cash or stock payouts.)

Filing Stats: 4,409 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-04-25 06:00:57

Filing Documents

– 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 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 54

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 55 Item 6. Exhibits 55

Signatures

Signatures 56 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) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and equivalents $ 111,985 $ 78,399 Accounts receivable, net of allowance for credit losses of $ 22,858 and $ 23,553 at March 31, 2024 and December 31, 2023, respectively 896,682 856,953 Prepaid expenses and other current assets 208,387 206,433 Total current assets 1,217,054 1,141,785 Restricted cash 105,683 105,639 Restricted investments 74,655 70,350 Property and equipment, net 7,827,304 7,228,331 Operating lease right-of-use assets 273,371 261,782 Goodwill 7,597,175 7,404,400 Intangible assets, net 1,877,226 1,603,541 Other assets, net 110,192 100,048 Total assets $ 19,082,660 $ 17,915,876 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 589,861 $ 642,455 Book overdraft 14,584 14,855 Deferred revenue 370,380 355,203 Accrued liabilities 507,259 521,428 Current portion of operating lease liabilities 36,430 32,533 Current portion of contingent consideration 96,931 94,996 Current portion of long-term debt and notes payable 16,096 26,462 Total current liabilities 1,631,541 1,687,932 Long-term portion of debt and notes payable 7,795,191 6,724,771 Long-term portion of operating lease liabilities 249,419 238,440 Long-term portion of contingent consideration 20,802 20,034 Deferred income taxes 1,052,508 1,022,480 Other long-term liabilities 542,239 524,438 Total liabilities 11,291,700 10,218,095 Commitments and contingencies (Note 17) Equity: Common shares: 258,019,417 shares issued and 257,961,725 shares outstanding at March 31, 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 272,450

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