Waste Connections details acquisitions, expansion plans

Waste Connections, based in Toronto, detailed that the acquisitions it has closed or that are under definitive agreement have accrued about $300 million in annualized revenue through the third quarter of 2025.

Speaking to investors Oct. 22, CEO Ronald J. Mittelstaedt said the company has had some “fantastic merger and acquisition wins, including two of the largest private companies in Florida.”

Mittelstaedt said one of the Florida deals closed during the third quarter. While he did not name any of the companies, Miami-based Great Waste’s website now redirects to Waste Connection’s website. The other Florida acquisition is signed and expected to close by the end of 2025.

He added that the firm has “a large transfer station in New York under [a] definitive agreement since May” and expects to close that deal in the fourth quarter.

Waste Connections aims to close more acquisitions in the fourth quarter and in early 2026, focusing on strengthening its core business.

“There is nothing in the pipeline that is anything but traditional solid waste deals,” Mittelstaedt said. “That is what you will see closing in the fourth quarter, that is what you will see closing in 2026. We are not looking at something that is outside our core arena and do not believe there’s any need to do so at this point in time.”

Waste Connections provided an update regarding two of its landfills. Its Arrowhead Environmental Partners operation in Perry County, Alabama, continues to progress since being acquired in 2023.

It now processes about 7,500 tons per day compared with about 2,500 tons per day when first acquired. Mittelstaedt said the firm has laid the foundation for incremental, continued improvement in 2026 and 2027.

The firm also is looking to expand its Seneca Meadows facility in Waterloo, New York, but is in the middle of what Mittelstaedt described as a “three-step process,” with the biggest step being securing local postagreement approval.

“And then there is a final technical demonstration through the state, and that is ongoing,” Mittelstaedt added. “We again remain confident that we’re on track to obtain it.

Waste Connections reported a decrease in net income for the third quarter of 2025 of $286 million compared with $308 million in the comparable quarter of 2024. However, for the nine months ending Sept. 30, the firm’s net income increased to $818.1 million from $812.5 million in the same period in 2024.