Q1 2025 SECURE Waste Infrastructure Corp Earnings Call Transcript
Key Points
- Secure Waste Infrastructure Corp (SECYF) reported a solid start to 2025 with a 33% EBITDA margin and stable cash flow despite recessionary concerns and lower commodity prices.
- The company increased its adjusted EBITDA per share by 24% year over year, driven by an 18% reduction in weighted average shares outstanding and strong infrastructure utilization.
- Secure Waste Infrastructure Corp (SECYF) repurchased 5.3 million common shares, reflecting strong conviction in the intrinsic value of the business and commitment to returning capital to shareholders.
- The company announced an increase in its 2025 organic growth capital program to $125 million, supported by a 10-year commercial agreement with a senior Montney producer.
- Secure Waste Infrastructure Corp (SECYF) completed the acquisition of an Edmonton-based metal recycling business, strengthening processing capabilities and improving logistics through investment in railcars.
- Extreme cold weather in February temporarily softened some activity levels, impacting processing volumes.
- The company decided not to proceed with a previously announced $18 million acquisition in the metal recycling business due to final due diligence outcomes.
- Secure Waste Infrastructure Corp (SECYF) maintained its 2025 full-year adjusted EBITDA guidance range, reflecting a cautious stance due to macroeconomic volatility, including uncertainties surrounding tariffs and recessionary concerns.
- The divestiture of 29 facilities on February 1, 2024, partially offset revenue gains from acquisitions and higher pricing.
- The company faces ongoing macroeconomic challenges, including potential impacts from tariffs and a recent decline in commodity prices, which could affect customer activity levels.
Good morning, ladies and gentlemen, and welcome to the SECURE Waste Infrastructure Corp Q1 2025 results conference call. (Operator Instructions) This call is being recorded on Friday, May 2, 2025.
I would now like to turn the conference over to Alison Procop. Please go ahead.
Thank you, and good morning to everyone who is listening to the call. Welcome to SECURE conference call for the first quarter of 2025. Joining me on the call today is Allen Gransch, our President and Chief Executive Officer; Chad Magus, our Chief Financial Officer; and Corey Higham, our Chief Operating Officer.
During the call today, we will make forward-looking statements related to future performance, and we will refer to certain financial measures and ratios that do not have any standardized meaning prescribed by GAAP, and may not be comparable to similar financial measures or ratios disclosed by other companies.
The forward-looking statements reflect the current views of SECURE
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