Secure Waste Q2 revenue up 5%, beats estimates

Overview

• Secure Waste Q2 2025 revenue rises 5% yr/yr, beating analyst expectations

• Adjusted EBITDA for Q2 2025 down 4% yr/yr due to seasonal and macro challenges

• In 2025, co repurchased 7% of total common shares outstanding year-to-date

Outlook

• Secure maintains 2025 adjusted EBITDA guidance of C$510 mln to C$540 mln

• Company anticipates discretionary free cash flow of C$270 mln to C$300 mln

• Secure plans C$125 mln organic growth capital spend in 2025

• Company actively managing metals recycling volatility due to U.S. tariffs

Result Drivers

• SEASONAL IMPACTS - Q2 results affected by typical seasonal impacts of spring break-up, per CEO Allen Gransch

• METALS RECYCLING - U.S. tariffs and global pressures led to volatility in metals recycling segment, co redirected ferrous volumes to U.S. markets

• ORGANIC GROWTH - Revenue growth driven by contributions from Edmonton-based metals recycling business acquired in January 2025

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the environmental services & equipment peer group is "buy"

• Wall Street's median 12-month price target for SECURE Waste Infrastructure Corp is C$17.63, about 5.1% above its July 28 closing price of C$16.72

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nCNWfxJw3a