Waste Connections (WCN) has released its third-quarter financial results, revealing a decline in earnings compared to the same quarter last year, although the figures surpassed Wall Street expectations.
The firm reported net earnings of $229 million, or $0.89 per share, a decrease from the previous year's third-quarter earnings of $308 million, or $1.19 per share. However, when excluding certain items, the adjusted earnings amounted to $350 million or $1.35 per share for this quarter.
Analyst projections, drawn from Thomson Reuters data, had anticipations set at $1.29 per share, typically excluding any extraordinary items, which Waste Connections succeeded in surpassing.
Revenue for the quarter also took a hit, decreasing by 11.7% to $2.064 billion from last year's $2.338 billion.
A brief overview of Waste Connections' earnings based on Generally Accepted Accounting Principles (GAAP) is as follows:
- Earnings (Q3): $229 million compared to $308 million last year.
- EPS (Q3): $0.89 in contrast to $1.19 last year.
- Revenue (Q3): $2.064 billion, down from $2.338 billion last year.
