Filing Flows › Waste Connections (WCN) › Q3 2026 › vs Q2 2026
Waste Connections (WCN) Q3 2026 vs Q2 2026 (quarter over quarter)
Waste Connections's revenue rose $76.5M (+3%) from $2.6B in Q2 2026 to $2.6B in Q3 2026. The biggest changes: Collection +$43.0M (+2%); Western +$29.6M (+6%); MidSouth +$3.9M (+1%). Operating margin 20.5% against 17.1% (+3.5 pts).
Waste Connections, Q3 2026: revenue $2.6B (+7% year over year), operating margin 20.5%, net earnings $359M, operating cash flow $692M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 20.5% | 17.1% | +3.5 pts |
| Net margin | 13.6% | 11.6% | +2.0 pts |
| Free cash flow margin | 15.1% | 16.8% | -1.8 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Southern | $549M | $519M | $30.2M | +6% |
| Eastern | $451M | $444M | $7.3M | +2% |
| Central | $436M | $424M | $12.1M | +3% |
| Canada | $379M | $386M | −$6.5M | -2% |
| Collection | $1.8B | $1.8B | $43.0M | +2% |
| Western | $522M | $493M | $29.6M | +6% |
| MidSouth | $301M | $297M | $3.9M | +1% |
| Revenue | $2.6B | $2.6B | $76.5M | +3% |
| Operating profit | $542M | $438M | $104M | +24% |
| Costs & expenses | $2.1B | $2.1B | −$27.7M | -1% |
| Pre-tax earnings | $451M | $384M | $67.4M | +18% |
| Other expense, net | $90.6M | $53.8M | $36.8M | +68% |
| Cost of revenue | $1.5B | $1.5B | $21.9M | +1% |
| SG&A | $254M | $260M | −$6.6M | -3% |
| Other operating costs | $341M | $384M | −$43.1M | -11% |
| Net earnings | $359M | $296M | $62.8M | +21% |
| Income tax | $91.9M | $87.3M | $4.6M | +5% |
| Depreciation & amortization | $339M | $326M | $13.5M | +4% |
| Share-based compensation | $20.3M | $24.0M | −$3.7M | -15% |
| Working capital & other | $27.0M | −$87.1M | $114M | — |
| Operating cash flow | $692M | $733M | −$41.4M | -6% |
| Free cash flow (OCF − capex) | $397M | $431M | −$33.8M | -8% |
| Capital expenditures | $295M | $302M | −$7.6M | -3% |
Questions
How much did Waste Connections's revenue grow quarter over quarter in Q3 2026?
Waste Connections's revenue rose $76.5M (+3%) from $2.6B in Q2 2026 to $2.6B in Q3 2026.
What drove Waste Connections's revenue change in Q3 2026?
Collection +$43.0M (+2%); Western +$29.6M (+6%); MidSouth +$3.9M (+1%).