Waste Connections 2026年季度报告

(Mark One) ☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the quarterly period ended June 30, 2026Or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the transition period fromtoCommission file number 1-34370 WASTE CONNECTIONS, INC.(Exact name of registrant as specified in its charter)Ontario, Canada(State or other jurisdiction of incorporation or organization)98-1202763(I.R.S. Employer Identification No.)6220 Hwy 7, Suite 600WoodbridgeOntario L4H 4G3Canada(Address of principal executive offices)(905) 532-7510(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports);and (2) has been subject to such filing requirements for the past 90 days. YesNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). WASTE CONNECTIONS,INC.FORM10-Q TABLE OF CONTENTS PART I – FINANCIAL INFORMATION (unaudited)Item 1.Financial StatementsCondensed Consolidated Balance Sheets1Condensed Consolidated Statements of Net Income2Condensed Consolidated Statements of Comprehensive Income3Condensed Consolidated Statements of Equity4Condensed Consolidated Statements of Cash Flows6Notes to Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations36Item 3.Quantitative and Qualitative Disclosures About Market Risk56Item 4.Controls and Procedures58PART II – OTHER INFORMATIONItem 1.Legal Proceedings59Item 2.Unregistered Sales of Equity Securities and Use of Proceeds59Item 5.Other Information59Item 6.Exhibits60Signatures61 PARTI– FINANCIAL INFORMATIONItem1. Financial StatementsWASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(In thousands of U.S. dollars, except share and per share amounts) WASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME(Unaudited)(In thousands of U.S. dollars, except share and per share amounts) WASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited)(In thousands of U.S. dollars) WASTE CONNECTIONS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands of U.S. dollars) Six Months Ended June30,20262025CASH FLOWS FROM OPERATING ACTIVITIES:Net income$515,742$531,787Adjustments to reconcile net income to net cash provided by operating activities:Loss from disposal of assets, impairments and other7,16411,480Adjustments to closure and post-closure liabilities131,980—Depreciation545,762499,728Amortization of intangibles94,86497,878Deferred income taxes, net of acquisitions37,18958,292Current period provision for expected credit losses14,5195,171Amortization of debt issuance costs4,5024,101Share-based compensation41,53941,956Interest accretion22,15625,556Payment of contingent consideration recorded in earnings(1)(400)Adjustments to contingent consideration(1,315)30,584Other(3,778)(2,661)Net change in operating assets and liabilities, net of acquisitions(131,437)(123,731)Net cash provided by operating activities1,278,8861,179,741 CASH FLOWS FROM INVESTING ACTIVITIES:Payments for acquisitions, net of cash acquired(309,644)(510,738)Capital expenditures for property and equipment(598,949)(497,765)Capital expenditures for undeveloped land(51,049)—Proceeds from disposal of assets2,9225,417Other(5,232)(16,886)Net cash used in investing activities(961,952)(1,019,972) WASTE CONNECTIONS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)(DOLLAR AMOUNTS IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS ORAS OTHERWISE NOTED) 1.BASIS OF PRESENTATION AND SUMMARY The accompanying condensed consolidated financial statements relate to Waste Connections,Inc. andits subsidiaries (the “Company”) for the three