Waste Connections, Inc. (WCN)
Q2 2012 Earnings Call
July 24, 2012 8:30 a.m. ET
Ronald J. Mittelstaedt - Chairman and Chief Executive Officer
Worthing F. Jackman - Chief Financial Officer and Executive Vice President
Scott Levine - JPMorgan Chase
Justin Maurer – Lord Abbett
Hamzah Mazari - Credit Suisse
Joe Ritchie - Goldman Sachs
Michael E. Hoffman - Wunderlich Securities
BB&T Capital Markets
Al Kaschalk – Wedbush Securities
Corey Greendale - First Analysis Securities
Tony Bancroft – Gabelli & Company
Good day, ladies and gentlemen, and welcome to the Q2 2012 Waste Connections earnings conference call. My name is Deanna, and I'll be the operator for today. At this time all participants are in a listen-only mode. Later we will conduct a question and answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes. I would now like to turn the conference over to host, Ron Mittelstaedt, Chief Executive Officer. Please proceed.
Ronald J. Mittelstaedt
Okay. Thank you, operator and good morning. I'd like to welcome everyone to this conference call to discuss our second quarter 2012 results and provide a detailed outlook for the third quarter as well as few updates for the full year.
I'm joined this morning in by Steve Bouck, our President; Worthing Jackman, our CFO; and several other members of both our corporate and region senior management team.
As noted in our earnings release, the first half of the year has played out about as expected as revenue, adjusted EBITDA, and adjusted free cash flow tracked within or ahead of our expectations. In the recent quarter, revenue slightly exceeded our outlook and adjusted EBITDA hit the midpoint of our guidance. More importantly, we have now delivered almost 60% of our full year free cash flow guidance for the year.