Waste Connections Reports Q2 2026 Results: Full Earnings Call Transcript
Waste Connections reported Q2 2026 revenue of $2.562 billion, up 6.4% year over year, and adjusted EBITDA margin of 32.8%. 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. It cited pricing strength, volume declines, RNG progress, and about $100 million in annualized acquisitions YTD.
How this was made
The 30-second read
Why it matters
Traders can update models using the stated Q2 performance, the expanded adjusted EBITDA margin, and the increased full-year 2026 revenue and adjusted EBITDA ranges, while monitoring volume softness and landfill impact management.
Market read
Raised 2026 guidance plus margin expansion and RNG execution are the core catalysts, partially offset by volume declines tied to macro uncertainty and fuel-cost pressure.
What to watch
Chiquita Canyon Landfill ETLF impact is described as within expectations with no change to 2026 free cash flow, but any deviation from the decelerating reaction path could reintroduce downside risk.
Background
The article is a transcript of Waste Connections’ Q2 2026 earnings call, including management commentary on results, margin drivers, RNG project progress, and M&A activity.
Ticker impact
Waste Connections reported Q2 2026 revenue of $2.562B, expanded adjusted EBITDA margin to 32.8%, and raised full-year 2026 outlook.
Bias toward upside as raised 2026 revenue and adjusted EBITDA ranges and RNG progress offset volume softness and fuel-cost pressure.
The article includes explicit Q2 results and a higher full-year 2026 outlook, plus quantified margin and pricing components, which are typically market-moving for a single-name earnings/guidance read-through.
Market effects
Signals resilience in waste collection pricing power (core price up 5.6%) and improving profitability despite fuel volatility, which can influence read-across for waste peers.
Primarily North American operational drivers (U.S. E&P waste up, Canada normalized flat) may affect regional sentiment for industrial waste and landfill RNG projects.
Limited direct global linkage, but RNG project execution and commodity-linked cost dynamics can matter for broader infrastructure and renewable-gas narratives.
Counterpoint
Volume declined 1.9% and volumes were pressured by macro uncertainty, so the raised outlook could be more sensitive to a renewed slowdown than the margin story suggests.
Key entities
- companyWaste Connections
Reported Q2 2026 results, expanded adjusted EBITDA margin to 32.8%, and increased full-year 2026 outlook; discussed RNG progress and landfill impact management.
