Waste Connections' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Waste Connections, Inc. (WCN)

Q2 2012 Earnings Call

July 24, 2012 8:30 a.m. ET

Executives

Ronald J. Mittelstaedt - Chairman and Chief Executive Officer

Worthing F. Jackman - Chief Financial Officer and Executive Vice President

Analysts

Scott Levine - JPMorgan Chase

Justin Maurer – Lord Abbett

Hamzah Mazari - Credit Suisse

Joe Ritchie - Goldman Sachs

Michael E. Hoffman - Wunderlich Securities

Adam R . Thalhimer - BB&T Capital Markets

Al Kaschalk – Wedbush Securities

Corey Greendale - First Analysis Securities

Tony Bancroft – Gabelli & Company

Presentation

Operator

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.

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