Waste Connections Raises 2026 Outlook After Strong Q2 Results
SEATTLE (Recycling Monster): Waste Connections has increased its full-year 2026 financial outlook after reporting stronger-than-expected second-quarter results. The company’s robust Q2 results were supported by higher pricing and improving recycled commodity markets, while recent acquisitions also contributed to performance.
The update underscores how pricing discipline and recycling market improvements are shaping earnings across the waste and recycling sector, a trend closely followed on the RecyclingMonster recycling and scrap prices platform. [Editor: link uses the verified RecyclingMonster homepage.]
Q2 2026 Revenue, Earnings, and Margin Performance
The company posted Q2 revenue of $2.56 billion, a 6.4% increase from the same period last year. Net income rose 2.1% year over year to $296.4 million, while adjusted EBITDA climbed 6.8% to $840.1 million.
Waste Connections reported an EBITDA margin of 32.8%, reflecting a combination of higher pricing, improved recycled commodity markets, and contributions from recent acquisitions.
Pricing, Surcharges, and Operating Costs
Waste Connections reported lower risk management costs and improved operating margins despite ongoing global economic and geopolitical uncertainties. Solid waste core pricing averaged 5.6% during the quarter, with the company maintaining its full-year pricing target of approximately 5.5%.
Fuel and material surcharges added 1.1% to total pricing, helping the company recover higher fuel expenses while supporting overall margin performance.
Volume Trends and Construction & Demolition Recovery
While overall solid waste volumes declined 1.9% due to slower economic activity, construction and demolition waste volumes recorded their first year-over-year increase in ten quarters.
This shift indicates early signs of stabilization in construction and demolition activity within Waste Connections’ service areas, even as broader solid waste volumes remain under pressure.
Updated 2026 Revenue and EBITDA Outlook
Waste Connections announced an improved 2026 forecast following its Q2 performance. The company now expects annual revenue between $10.02 billion and $10.05 billion, with adjusted EBITDA projected at $3.33 billion to $3.34 billion.
The revised outlook reflects management’s confidence in the company’s pricing strategy, recycled commodity market trends, and acquisition contributions for the remainder of the year.
Frequently Asked Questions
How much revenue did Waste Connections report in Q2 2026?
The company reported Q2 revenue of $2.56 billion, a 6.4% increase from the same quarter a year earlier.
What were Waste Connections’ Q2 2026 earnings metrics?
Net income rose 2.1% to $296.4 million, and adjusted EBITDA increased 6.8% to $840.1 million, with an EBITDA margin of 32.8%.
How did pricing and surcharges affect Q2 results?
Solid waste core pricing averaged 5.6%, and fuel and material surcharges added 1.1% to total pricing, helping offset higher fuel costs.
What happened to solid waste and construction & demolition volumes?
Overall solid waste volumes declined 1.9%, while construction and demolition waste volumes posted their first year-over-year increase in ten quarters.
What is Waste Connections’ updated 2026 outlook?
The company now expects annual revenue between $10.02 billion and $10.05 billion and adjusted EBITDA between $3.33 billion and $3.34 billion.
Market Relevance
Waste Connections’ stronger Q2 results and raised 2026 outlook highlight how pricing execution, recycled commodity market recovery, and targeted acquisitions are shaping performance across the waste and recycling industry, even amid softer volumes and broader economic uncertainty.
