By Adriano Marchese

Waste Connections shares rose Thursday after reporting better-than-expected results in the first quarter, a trend the company said should continue throughout the year.

Shares trading in Toronto rose 6.3% to 227.18 Canadian dollars ($166.16).

The solid-waste services company reported late Wednesday revenue of $2.37 billion, up from $2.23 billion a year earlier, and topping analyst expectations of $2.36 billion.

Net income in the first quarter was $219.3 million, or 86 cents a share, down from $241.5 million, or 93 cents a share, a year earlier.

Adjusted earnings, which strips out exceptional items and one-off items, was $1.23, ahead of the $1.20 a share expected by analysts.

Adjusted earnings before interest, taxes, depreciation and amortization also was above forecasts, coming in at $769.5 million, up from $712.2 million a year earlier, and above the $765 million consensus forecast.

Chief Executive Ronald Mittelstaedt called the quarter a strong start to 2026 and said the company remains well-positioned for the full year, with upside potential from commodity-related impacts and solid waste organic growth.

He noted that the company is expecting a year of outsized acquisitions activity thanks to its robust pipeline.

"We should be well-positioned for incremental benefits from higher fuel and other commodities, as well as strong pricing retention and increased special waste activity, and also longer term as a result of our expanding use of A.I. through technology-related investments," Mittelstaedt said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 23, 2026 10:05 ET (14:05 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.