Filing Flows › Waste Connections (WCN) › Q2 2026 › vs Q1 2026
Waste Connections (WCN) Q2 2026 vs Q1 2026 (quarter over quarter)
Waste Connections's revenue rose $191M (+8%) from $2.4B in Q1 2026 to $2.6B in Q2 2026. The biggest changes: Canada +$40.9M (+12%); Eastern +$38.2M (+9%); Western +$30.3M (+7%). Operating margin 17.1% against 15.4% (+1.7 pts).
Waste Connections, Q2 2026: revenue $2.6B (+6% year over year), operating margin 17.1%, net earnings $296M, operating cash flow $733M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.1% | 15.4% | +1.7 pts |
| Net margin | 11.6% | 9.3% | +2.3 pts |
| Free cash flow margin | 16.8% | 10.5% | +6.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Southern | $519M | $493M | $25.6M | +5% |
| Western | $493M | $462M | $30.3M | +7% |
| Eastern | $444M | $406M | $38.2M | +9% |
| Central | $424M | $397M | $27.0M | +7% |
| Canada | $386M | $345M | $40.9M | +12% |
| MidSouth | $297M | $268M | $28.9M | +11% |
| Revenue | $2.6B | $2.4B | $191M | +8% |
| Operating profit | $438M | $364M | $73.5M | +20% |
| Costs & expenses | $2.1B | $2.0B | $118M | +6% |
| Pre-tax earnings | $384M | $284M | $100M | +35% |
| Other expense, net | $53.8M | $80.5M | −$26.7M | -33% |
| Cost of revenue | $1.5B | $1.4B | $118M | +9% |
| SG&A | $260M | $251M | $9.4M | +4% |
| Other operating costs | $384M | $394M | −$10.0M | -3% |
| Net earnings | $296M | $219M | $77.1M | +35% |
| Income tax | $87.3M | $64.2M | $23.1M | +36% |
| Depreciation & amortization | $326M | $315M | $11.1M | +4% |
| Share-based compensation | $24.0M | $17.6M | $6.4M | +36% |
| Working capital & other | $87.1M | −$6.1M | $93.1M | — |
| Operating cash flow | $733M | $546M | $188M | +34% |
| Free cash flow (OCF − capex) | $431M | $249M | $182M | +73% |
| Capital expenditures | $302M | $297M | $5.8M | +2% |
Questions
How much did Waste Connections's revenue grow quarter over quarter in Q2 2026?
Waste Connections's revenue rose $191M (+8%) from $2.4B in Q1 2026 to $2.6B in Q2 2026.
What drove Waste Connections's revenue change in Q2 2026?
Canada +$40.9M (+12%); Eastern +$38.2M (+9%); Western +$30.3M (+7%).