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Waste Connections (WCN) Q4 FY2021 earnings: revenue $1.6 billion, up 16.2% on the year

Waste Connections, Inc. (WCN) reported revenue of $1.6 billion for Q4 FY2021, the quarter ended 31 December 2021, up 16.2% on the same quarter a year earlier. Net income was $166 million, up 27.3% on the year, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.

Revenue$1.6 billionup 16.2%
Net income$166 millionup 27.3%
Diluted EPS$0.63
QuarterQ4 FY2021ended 31 December 2021

The quarter, against the one before and a year earlier

LineQ4 FY2021Quarter beforeA year earlierChange on the year
Revenue1,624n/an/an/a
Cost of revenue981n/an/an/a
Gross profit643n/an/an/a
Gross margin39.6%n/an/a
Selling, general and administrative157n/an/an/a
Operating income249n/an/an/a
Operating margin15.3%n/an/a
Interest expense38.6n/an/an/a
Pre-tax income212n/an/an/a
Income tax45.7n/an/an/a
Effective tax rate21.5%n/an/a
Net income166n/an/an/a
Net margin10.2%n/an/a
Diluted EPS$0.63n/an/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2021Quarter beforeA year earlierChange on the year
Operating cash flow428n/an/an/a
Capital expenditure265n/an/an/a
Free cash flow163n/an/an/a
Free cash flow margin10.1%n/an/a
Cash from investing-659n/an/an/a
Cash from financing-7.9n/an/an/a
Depreciation and amortisation214n/an/an/a
Share-based compensation15.5n/an/an/a
Buybacks33.4n/an/an/a
Dividends paid59.4n/an/an/a
Diluted shares, weighted262mn/an/an/a
Shares outstanding at period end260mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2021Quarter beforeA year earlierChange on the year
Shareholders' equity6,989n/an/an/a
Non-controlling interest4.6n/an/an/a
Debt5,047n/an/an/a
Operating lease liabilities130n/an/an/a
Finance lease liabilities8.5n/an/an/a
Other liabilities2,522n/an/an/a
Total liabilities and equity14,700n/an/an/a
Fixed assets5,722n/an/an/a
Goodwill6,188n/an/an/a
Intangible assets1,351n/an/an/a
Cash and equivalents147n/an/an/a
Receivables710n/an/an/a
Other assets583n/an/an/a
Total assets14,700n/an/an/a

Questions

What was Waste Connections' revenue in Q4 FY2021?

Waste Connections (WCN) reported revenue of $1.6 billion for Q4 FY2021, the quarter ended 31 December 2021, up 16.2% on the same quarter a year earlier.

How much did Waste Connections earn in Q4 FY2021?

Net income for Q4 FY2021 was $166 million, up 27.3% on the year, and diluted earnings per share $0.63.

When did Waste Connections report Q4 FY2021 results?

Waste Connections filed its 10-K for the year that ended with the quarter on 17 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,6241,6461,8161,8801,8691,9012,0212,0652,0362,0732,2482,3382,2602,2282,4072,4582,3732,3712,5622,638
Cost of revenue9819901,0881,1211,1381,1471,1971,2051,1961,2221,3011,3441,3251,2911,3931,4071,3641,3611,4791,501
Gross profit6436577297597317548248608408519479949369371,0141,0521,0091,0101,0821,137
Gross margin40%40%40%40%39%40%41%42%41%41%42%43%41%42%42%43%43%43%42%43%
SG&A157163168187178194216196193221229223211250243236230251260254
Operating income249274330327312315344353225367425475-199390460440421364438542
Operating margin15%17%18%17%17%17%17%17%11%18%19%20%-9%18%19%18%18%15%17%21%
Interest expense38.641.345.151.264.868.467.569.069.778.582.483.582.480.982.884.486.587.791.296.4
Pre-tax income212229283286251252278292161289356400-282313389375341284384451
Tax rate22%21%21%17%23%22%25%22%22%21%23%23%n/a23%25%24%24%23%23%20%
Net income166180224237194198209229127230275308-196242290286258219296359
Net margin10%11%12%13%10%10%10%11%6%11%12%13%-9%11%12%12%11%9%12%14%
Diluted EPS$0.63$0.69$0.87$0.92$0.75$0.77$0.81$0.89$0.49$0.89$1.07$1.19-$0.76$0.93$1.12$1.11$1.01$0.86$1.17$1.43
Operating cash flow428441533526522442574554556490611558569542638677557546733692
Capital expenditure265152219247294176218221318170217272397212285297384297302295
Free cash flow163289314280228267356333237320394286172329353380173249431397
Buybacks33.44250.00.00.0n/an/an/an/an/an/a0.0n/a0.00.444263.3284331330
Dividends paid59.459.459.458.965.365.865.465.773.873.673.774.081.081.581.581.089.988.788.488.4
Shares outstanding260m257m257m257m257m257m258m258m258m258m258m258m258m258m258m256m256m254m252m250m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 17 February 2022: the filing.