Waste Connections 1Q Earnings was 'Good Old Fashion Beat': Wunderlich (WCN)

Wunderlich Securities reiterated its Buy rating on Waste Connections

Tuesday, noting that "1Q11 was a good old fashion beat on solid revenues and rigorous cost cutting." Waste Connections reported 1Q11 revenues were up 7.8% to $331 million, in line with consensus estimates. EBITDA in 1Q11 came in at $105.6 million. Waste Connections, Inc. a solid waste services company. WCI provides solid waste collection, transfer, disposal and recycling services in the Western and Southern United States. Michael E. Hoffman, the Director of Research at Wunderlich Securities on outlook: "Looking out to 2012, price and volume should return to a combined growth of 5%, commodities probably rolls back some, and fuel is flat. EBITDA margins should hold at 32%-33%. FCF as a percent of sales at mid-teens or better should be sustainable and goes to reducing the share count." Shares of Waste Connections are trading slightly higher in pre-market trade, to $29.90.