Filing Flows › Waste Connections (WCN) › Q2 2026 › vs Q2 2025
Waste Connections (WCN) Q2 2026 vs Q2 2025 (year over year)
Waste Connections's revenue rose $155M (+6%) from $2.4B in Q2 2025 to $2.6B in Q2 2026. The biggest changes: Canada +$42.4M (+12%); Southern +$41.7M (+9%); Western +$31.1M (+7%). Operating margin 17.1% against 19.1% (-2.0 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 17.1% | 19.1% | -2.0 pts |
| Net margin | 11.6% | 12.1% | -0.5 pts |
| Free cash flow margin | 16.8% | 14.7% | +2.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Southern | $519M | $477M | $41.7M | +9% |
| Western | $493M | $462M | $31.1M | +7% |
| Eastern | $444M | $442M | $1.7M | +0.4% |
| Central | $424M | $402M | $21.7M | +5% |
| Canada | $386M | $343M | $42.4M | +12% |
| MidSouth | $297M | $281M | $16.0M | +6% |
| Revenue | $2.6B | $2.4B | $155M | +6% |
| Operating profit | $438M | $460M | −$22.0M | -5% |
| Costs & expenses | $2.1B | $1.9B | $177M | +9% |
| Pre-tax earnings | $384M | $389M | −$5.4M | -1% |
| Other expense, net | $53.8M | $70.4M | −$16.6M | -24% |
| Cost of revenue | $1.5B | $1.4B | $86.4M | +6% |
| SG&A | $260M | $243M | $17.5M | +7% |
| Other operating costs | $384M | $312M | $72.7M | +23% |
| Net earnings | $296M | $290M | $6.1M | +2% |
| Income tax | $87.3M | $98.9M | −$11.6M | -12% |
| Depreciation & amortization | $326M | $308M | $18.2M | +6% |
| Share-based compensation | $24.0M | $18.5M | $5.4M | +29% |
| Working capital & other | $87.1M | $21.8M | $65.3M | +300% |
| Operating cash flow | $733M | $638M | $95.1M | +15% |
| Free cash flow (OCF − capex) | $431M | $353M | $78.0M | +22% |
| Capital expenditures | $302M | $285M | $17.0M | +6% |
Questions
How much did Waste Connections's revenue grow year over year in Q2 2026?
Waste Connections's revenue rose $155M (+6%) from $2.4B in Q2 2025 to $2.6B in Q2 2026.
What drove Waste Connections's revenue change in Q2 2026?
Canada +$42.4M (+12%); Southern +$41.7M (+9%); Western +$31.1M (+7%).