04:48 PM EDT, 10/21/2025 (MT Newswires) -- Waste Connections ( WCN ) on Tuesday reported better than expected earnings and revenue for the third quarter, saying it highlights "superior execution on improving operating trends and cost management", but while it also increased the regular quarterly dividend by 11.1%, it made no change to its full year 2025 outlook as provided in July.

The waste-management company reported an adjusted profit, excluding most one-time items of US$286.3 million, or US$1.44 per share, up from US$350 million, or US$1.35, in the year-prior quarter. The company was expected to post an adjusted profit per share of US$1.37, the consensus estimate among analysts polled by FactSet.

Revenue rose to US$2.458 billion, up from US$2.338 billion a year earlier and above the FactSet consensus estimate for sales of US$2,422.8 million.

The company's board approved an 11.1% increase in the dividend, raising the payout to US$0.35 per share from US$0.315. The higher dividend will be paid on Nov.20 to shareholders of record on Nov.5. The board intends to review the quarterly dividend each October, with a long-term objective of increasing the amount of the dividend.

"Superior execution drove better than expected financial results in the third quarter, bolstered by continued improvement in operating trends. Another quarterly step down in employee turnover and new record low safety incident rates, together with strong pricing retention, provided for underlying solid waste margin expansion of approximately 80 basis points in the period," said chief executive Ronald Mittelstaedt.

"Given our team's effectiveness in overcoming incremental commodity headwinds during the quarter, we are on track to deliver full year 2025 results in line with our outlook as provided in July."

Mittelstaedt added, "As anticipated, the strength of our operating performance, free cash flow generation and balance sheet positioned us for another double-digit increase to our quarterly cash dividend, along with another year of outsized acquisition activity and share repurchases of approximately 1% of shares outstanding. We remain well-positioned to fund our differentiated growth strategy, while also increasing return of capital to shareholders."

Waste Connection shares closed down $0.96 to $243.24 on the Toronto Stock Exchange.