04:42 PM EDT, 07/24/2024 (MT Newswires) -- Waste Connections ( WCN ) on Wednesday said its second-quarter adjusted profit rose more than expected as it increased revenue and raised 2024 guidance.

The company said its adjusted profit, excluding one-time items, rose 22% to US$320 million, or US$1.24 per share, in the period. up from s US$262.3 million, or US$1.02, in the prior year quarter and beating the consensus estimate for a US$1.17 per share adjusted profit, according to Capital IQ.

Revenue rose 11% to US$2.25 billion,, from US$2.02 billion in the year ago period. This too beat the Capital IQ revenue forecast of US$2.22 billion.

Waste Connections ( WCN ) updated its 2024 outlook to net income of approximately US$1.09 billion, increasing adjusted EBITDA to approximately $2.9billion or 32.8% on revenue of approximately US$8.850 billion. The Capital IQ forecast for 2024 revenues was $8,817.64 before today's result.

The company's shares down $0.83 to $248.37 on the Toronto Stock Exchange.