Waste Connections

Q2 FY2026 EarningsQ2 FY26 results were mixed relative to consensus: revenue of $2,561.6M beat the $2,537.5M expected, while GAAP EPS of $1.17 slightly missed the $1.18 mean estimate. Strong price-led growth of $146.3M and solid E&P waste performance drove the top-line beat. However, operating margins were pressured by a significant $58.5M impairment charge related to landfill closure liabilities and higher fuel costs. Management signaled continued pricing power and active capital allocation, repurchasing $614.5M in shares during the first half of 2026.