AGB 2021.16 - Waste Connections (WCN)

Trash is King

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Waste Connections

“And that's why we define this as a commodity business, something that trades predominantly on price is a commodity business. I know, for example, Republic Services believed and articulated that they do not believe it is a commodity, but I would argue that when you're the size of Republic Services and when you change your price by more than 1% a year, you lose most of your business, that's a commodity.” – Ronald J. Mittelstaedt, Chairman and former Chief Executive Officer at the 2017 Analyst Day

Waste Connections is the third largest solid waste services company in North America. The company services residential, commercial, municipal, industrial and E&P customers across 43 states and in Canada. Similar to other solid waste services companies, Waste Connections has grown through a series of acquisitions and organic growth (both price and volume). Waste collections services over 7M+ customers as of 2017 …