How did WCN's Q4 2024 earnings surprise impact its annual performance?

**Waste Connections' (WCN) Q4 2024 earnings surprise had a mixed impact on its annual performance.**

1. **Revenue Growth and Missed Expectations**:
- **Positive Impact on Annual Revenue**: Despite missing earnings estimates, WCN's revenues for the quarter ended December 2024, were $2.26 billion, marking an 11% year-over-year increase. This led to a full-year revenue of $8.92 billion, reflecting an 11.2% growth compared to the previous year.
- **Consistent Performance**: The company has shown consistent revenue growth, with an 11.19% increase over the last twelve months.
2. **Earnings Impact**:
- **Earnings Miss**: WCN's adjusted earnings for the quarter were $1.16 per share, missing the Zacks Consensus Estimate of $1.20 per share. This resulted in an earnings surprise of -3.33%.
- **Year-over-Year Increase**: Despite the miss, earnings per share increased by 4.5% year-over-year.
3. **Overall Annual Performance**:
- **Strong Adjusted EBITDA**: WCN's adjusted EBITDA for the quarter was $732 million, representing 32.4% of revenue. The full-year adjusted EBITDA reached $2.902 billion, indicating a 15% year-over-year increase.
- **Resilience Amid Challenges**: Despite a net loss in Q4 due to impairments, WCN reported a net income of $617.6 million for the full year, demonstrating resilience.
4. **Stock Performance and Market Perception**:
- **Stock Soaring**: WCN's stock reached an all-time high of $194.88, reflecting investor confidence and a bullish outlook on the waste management industry.
- **Positive Long-Term Outlook**: The company's consistent performance and growth prospects have positioned it as a standout performer in its sector, with analysts setting high price targets.

In conclusion, while WCN's Q4 earnings miss had an immediate negative effect, the company's strong revenue growth, adjusted EBITDA increase, and resilience in the face of challenges led to a robust annual performance. The positive market sentiment and optimistic outlook for 2025 suggest that the impact of the Q4 surprise has not dampened investor confidence in the long term.