Exhibit 99.1

 

 

 

 

WASTE CONNECTIONS REPORTS FIRST QUARTER 2018 RESULTS

 

-Revenue of $1.140 billion, exceeding outlook
-Net income attributable to Waste Connections of $124.9 million, or $0.47 per share
-Adjusted net income attributable to Waste Connections* of $148.6 million, or $0.56 per share, up 14.3% per share
-Adjusted EBITDA* of $356.9 million, or 31.3% of revenue, exceeding outlook
-Net cash provided by operating activities of $307.2 million
-Adjusted free cash flow* of $220.2 million, or 19.3% of revenue
-Signs or closes acquisitions YTD with approximately $165 million total annualized revenue
-Repurchases $42 million of common shares

 

TORONTO, ONTARIO, May 2, 2018 - Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections” or the “Company”) today announced its results for the first quarter of 2018. Revenue in the first quarter totaled $1.140 billion, up from $1.091 billion in the year ago period. Operating income was $188.7 million; this compares to $26.4 million in the year ago period, which included $141.7 million in non-cash impairments and other charges.

 

Net income attributable to Waste Connections in the first quarter was $124.9 million, or $0.47 per share on a diluted basis of 264.6 million shares. In the year ago period, the Company reported net income attributable to Waste Connections of $14.9 million, or $0.06 per share on a diluted basis of 263.9 million shares. Shares and per share numbers reflect a three-for-two share split completed in June 2017.

 

Adjusted net income attributable to Waste Connections* in the first quarter was $148.6 million, or $0.56 per share, versus $130.3 million, or $0.49 per share, in the prior year period. Adjusted EBITDA* in the first quarter was $356.9 million and 31.3% of revenue, as compared to adjusted EBITDA* of $332.8 million and 30.5% of revenue in the prior year period. Adjusted net income attributable to Waste Connections, adjusted net income attributable to Waste Connections per diluted share and adjusted EBITDA, all non-GAAP measures, primarily exclude acquisition-related items and impairments and other operating items, as reflected in the detailed reconciliations in the attached tables.

 

“Better than expected solid waste price growth and E&P waste activity drove strong performance in the period and position us well for the remainder of 2018. Adjusted EBITDA* margins in the first quarter increased 80 basis points year-over-year in spite of both the precipitous decline in recycled fiber values and weather-related impacts across a majority of our operational footprint. We are extremely pleased that given the strong start to the year and our recent acquisitions, adjusted free cash flow* is tracking to exceed our original outlook of $850 million for 2018,” said Ronald J. Mittelstaedt, Chief Executive Officer and Chairman. “Moreover, as anticipated, we resumed our share repurchase program, opportunistically buying back approximately $42 million of shares in the first quarter.”

 

Mr. Mittelstaedt added, “Acquisition activity is another bright spot for 2018. Year-to-date, we’ve signed or closed acquisitions with total annualized revenue of approximately $165 million, including three new market entries. Since our previous update in February, we acquired Right Away Disposal, an integrated provider of solid waste collection, recycling, transfer and disposal services in Arizona’s fast growing Pinal and Maricopa Counties, consisting of three collection operations, one recycling facility, two transfer stations and a municipal solid waste landfill. We also acquired the Heart of Florida Landfill in Central Florida, a municipal solid waste landfill that complements existing operations. And in early May, we signed a definitive agreement for a new market entry to acquire a provider of collection, recycling and transfer services with approximately $55 million of annualized revenue, expected to close in June. We are fortunate that the strength of our financial profile and free cash flow generation provide us with the flexibility to continually increase the return of capital to shareholders while funding an above average amount of acquisition activity.”

 

 

* A non-GAAP measure; see accompanying Non-GAAP Reconciliation Schedule.

 

 

 

CONFERENCE CALL

 

Waste Connections will be hosting a conference call related to first quarter earnings and second quarter outlook on May 3rd at 8:30 A.M. Eastern Time. The call will be broadcast live over the Internet through a link on the Company’s website at www.wasteconnections.com.  A playback of the call will be available on the Company’s website. Waste Connections will be filing a Form 8-K on EDGAR and on SEDAR (as an "Other" document) prior to markets opening on May 3rd, providing the Company's second quarter 2018 outlook for revenue, core price plus volume growth for solid waste and adjusted EBITDA*.

 

*A non-GAAP measure.

 

About Waste Connections

Waste Connections is an integrated solid waste services company that provides waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets in the United States and Canada. Through its R360 Environmental Solutions subsidiary, Waste Connections is also a leading provider of non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the Permian, Bakken and Eagle Ford Basins. Waste Connections serves more than six million residential, commercial, industrial, and exploration and production customers in 39 states in the U.S., and six provinces in Canada. The Company also provides intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest.

 

For more information, visit the Waste Connections web site at www.wasteconnections.com. Copies of financial literature, including this release, are available on the Waste Connections website or through contacting us directly at (905) 532-7510. Investors can also obtain these materials and other documents filed with the U.S. Securities and Exchange Commission (“SEC”) and the Canadian securities regulators free of charge at the SEC’s website, www.sec.gov, and at the System for Electronic Document Analysis and Retrieval maintained by the Canadian Securities Administrators at www.sedar.com.

 

Safe Harbor and Forward-Looking Information

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (“PSLRA”), including “forward-looking information” within the meaning of applicable Canadian securities laws. These forward-looking statements are neither historical facts nor assurances of future performance and reflect Waste Connections’ current beliefs and expectations regarding future events and operating performance. These forward-looking statements are often identified by the words “may,” “might,” “believes,” “thinks,” “expects,” ”estimate,” “continue,” “intends” or other words of similar meaning. All of the forward-looking statements included in this press release are made pursuant to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements about expected 2018 financial results, potential acquisition activity and the amount of capital returned to shareholders. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, risk factors detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Waste Connections undertakes no obligation to update the forward-looking statements set forth in this press release, whether as a result of new information, future events, or otherwise, unless required by applicable securities laws.

 

 

– financial tables attached –

 

 

CONTACT:

 

Worthing Jackman / (832) 442-2266 Mary Anne Whitney / (832) 442-2253
worthingj@wasteconnections.com maryannew@wasteconnections.com

 

 

 - 2 - 

 

 

Waste Connections, Inc.

CONDENSED Consolidated Statements of NET INCOME

THRee months ended MARCH 31, 2017 and 2018

(Unaudited)

(in thousands of U.S. dollars, except share and per share amounts)

 

   Three months ended
March 31,
 
   2017   2018 
Revenues  $1,091,266   $1,140,131 
Operating expenses:          
Cost of operations   643,380    659,803 
Selling, general and administrative   129,051    131,308 
Depreciation   125,240    133,185 
Amortization of intangibles   25,510    26,098 
Impairments and other operating items   141,681    1,030 
Operating income   26,404    188,707 
           
Interest expense   (29,131)   (32,370)
Interest income   449    1,155 
Other income (expense), net   1,017    (387)
Foreign currency transaction loss   (590)   (221)
Income (loss) before income tax provision   (1,851)   156,884 
           
Income tax (provision) benefit   16,871    (31,852)
Net income   15,020    125,032 
Less: Net income attributable to noncontrolling interests   (146)   (163)
Net income attributable to Waste Connections  $14,874   $124,869 
           
Earnings per common share attributable to Waste Connections’ common shareholders:          
Basic  $0.06   $0.47 
           
Diluted  $0.06   $0.47 
           
Shares used in the per share calculations:          
Basic   263,061,945    263,827,963 
Diluted   263,903,223    264,588,069 
           
Cash dividends per common share  $0.12   $0.14 

 

 

 - 3 - 

 

 

Waste Connections, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands of U.S. dollars, except share and per share amounts)

 

   December 31,
2017
   March 31,
2018
 
ASSETS          
Current assets:          
Cash and equivalents  $433,815   $217,537 
Accounts receivable, net of allowance for doubtful accounts of $17,154 and $16,780 at December 31, 2017 and March 31, 2018, respectively   554,458    555,285 
Current assets held for sale   1,596    1,509 
Prepaid expenses and other current assets   186,999    195,318 
Total current assets   1,176,868    969,649 
Restricted cash   122,652    77,008 
Restricted investments   44,360    44,230 
Property and equipment, net   4,820,934    4,924,263 
Goodwill   4,681,774    4,772,949 
Intangible assets, net   1,087,436    1,077,560 
Long-term assets held for sale   12,625    12,267 
Other assets, net   68,032    85,292 
   $12,014,681   $11,963,218 
LIABILITIES AND EQUITY          
Current liabilities:          
Accounts payable  $330,523   $287,894 
Book overdraft   19,223    18,965 
Accrued liabilities   278,039    260,542 
Deferred revenue   145,197    156,528 
Current portion of contingent consideration   15,803    14,462 
Current liabilities held for sale   2,155    2,071 
Current portion of long-term debt and notes payable   11,659    1,675 
Total current liabilities   802,599    742,137 
           
Long-term debt and notes payable   3,899,572    3,878,698 
Long-term portion of contingent consideration   31,482    43,199 
Other long-term liabilities   316,191    307,205 
Deferred income taxes   690,767    711,241 
Total liabilities   5,740,611    5,682,480 
Commitments and contingencies          
Equity:          
Common shares: 263,660,803 shares issued and 263,494,670 shares outstanding at December 31, 2017; 263,467,240 shares issued and 263,327,956 shares outstanding at March 31, 2018   4,187,568    4,147,475 
Additional paid-in capital   115,743    109,613 
Accumulated other comprehensive income   108,413    56,893 
Treasury shares: 166,133 and 139,284 shares at December 31, 2017 and March 31, 2018, respectively   -    - 
Retained earnings   1,856,946    1,961,297 
Total Waste Connections’ equity   6,268,670    6,275,278 
Noncontrolling interest in subsidiaries   5,400    5,460 
Total equity   6,274,070    6,280,738 
   $12,014,681   $11,963,218 

 

 - 4 - 

 

 

Waste Connections, Inc.

Condensed Consolidated Statements of Cash Flows

THREE months ended MARCH 31, 2017 and 2018

(Unaudited)

(in thousands of U.S. dollars)

 

   Three months ended March 31, 
   2017   2018 
Cash flows from operating activities:          
Net income  $15,020   $125,032 
Adjustments to reconcile net income to net cash provided by operating activities:          
Loss on disposal of assets and impairments   129,887    2,863 
Depreciation   125,240    133,185 
Amortization of intangibles   25,510    26,098 
Foreign currency transaction loss   590    221 
Deferred income taxes, net of acquisitions   (26,528)   20,957 
Amortization of debt issuance costs   1,013    1,076 
Share-based compensation   12,990    9,180 
Interest income on restricted investments   (137)   (120)
Interest accretion   3,424    3,665 
Adjustments to contingent consideration   11,313    702 
Payment of contingent consideration recorded in earnings   -    (11)
Net change in operating assets and liabilities, net of acquisitions   (10,844)   (15,601)
Net cash provided by operating activities   287,478    307,247 
           
Cash flows from investing activities:          
Payments for acquisitions, net of cash acquired   (344,265)   (311,964)
Capital expenditures for property and equipment   (91,205)   (91,216)
Proceeds from disposal of assets   18,815    1,002 
Change in restricted investments, net of interest income   (1,423)   - 
Other   (650)   (104)
Net cash used in investing activities   (418,728)   (402,282)
           
Cash flows from financing activities:          
Proceeds from long-term debt   436,086    35,625 
Principal payments on notes payable and long-term debt   (170,374)   (106,812)
Payment of contingent consideration recorded at acquisition date   (5,290)   (2,205)
Change in book overdraft   20,047    (295)
Proceeds from option and warrant exercises   1,946    - 
Payments for repurchase of common shares   -    (42,040)
Payments for cash dividends   (31,707)   (36,814)
Tax withholdings related to net share settlements of equity-based compensation   (13,030)   (14,121)
Debt issuance costs   (633)   (2,188)
Proceeds from sale of common shares held in trust   2,369    1,947 
Other   -    (103)
Net cash provided by (used in) financing activities   239,414    (167,006)
Effect of exchange rates changes on cash, cash equivalents and restricted cash   87    18 
Net increase (decrease) in cash, cash equivalents and restricted cash   108,251    (262,023)
Cash, cash equivalents and restricted cash at beginning of period   169,112    556,467 
Plus (less): change in cash held for sale   (27)   101 
Cash, cash equivalents and restricted cash at end of period  $277,336   $294,545 

 

 

 - 5 - 

 

 

ADDITIONAL STATISTICS

(in thousands of U.S. dollars, except where noted)

 

Solid Waste Internal Growth: The following table reflects a breakdown of the components of our solid waste internal growth for the three months ended March 31, 2018:

 

   U.S.   Canada   Total 
Core Price   3.9%    4.8%    4.1% 
Surcharges   0.2%    0.4%    0.2% 
Volume   (0.6%)   (4.1%)   (1.1%)
Recycling   (1.5%)   (4.1%)   (1.9%)
Foreign Exchange Impact   -    4.6%    0.7% 
Total   2.0%    1.6%    2.0% 

 

 

Revenue Breakdown: The following table reflects a breakdown of our revenue for the three month periods ended March 31, 2017 and 2018:

 

   Three Months Ended March 31, 2017 
   Revenue   Inter-company Elimination   Reported
Revenue
   % 
Solid Waste Collection  $768,346   $(2,200)  $766,146    70.2% 
Solid Waste Disposal and Transfer   357,025    (143,441)   213,584    19.6% 
Solid Waste Recycling   43,889    (2,584)   41,305    3.8% 
E&P Waste Treatment, Recovery and Disposal   39,821    (2,968)   36,853    3.4% 
Intermodal and Other   33,765    (387)   33,378    3.0% 
Total  $1,242,846   $(151,580)  $1,091,266    100.0% 

 

 

   Three Months Ended March 31, 2018 
   Revenue   Inter-company Elimination   Reported
Revenue
   % 
Solid Waste Collection  $809,646   $(2,399)  $807,247    70.8% 
Solid Waste Disposal and Transfer   370,929    (149,568)   221,361    19.4% 
Solid Waste Recycling   23,485    (972)   22,513    2.0% 
E&P Waste Treatment, Recovery and Disposal   58,359    (2,749)   55,610    4.9% 
Intermodal and Other   34,004    (604)   33,400    2.9% 
Total  $1,296,423   $(156,292)  $1,140,131    100.0% 

 

 

Contribution from Acquisitions: The following table reflects revenues from solid waste acquisitions, net of divestitures, for the three month periods ended March 31, 2017 and 2018:

 

   Three months ended
March 31,
 
   2017   2018 
Acquisitions, net  $538,900   $10,800 

 

 - 6 - 

 

 

ADDITIONAL STATISTICS (continued)

(in thousands of U.S. dollars, except where noted)

 

 

Other Cash Flow Items: The following table reflects cash interest and cash taxes for the three month periods ended March 31, 2017 and 2018: 

 

   Three months ended
March 31,
 
   2017   2018 
Cash Interest Paid  $22,302   $22,440 
Cash Taxes Paid   14,017    6,670 

  

 

Debt to Book Capitalization as of March 31, 2018: 38%

 

 

 

Internalization for the three months ended March 31, 2018: 57%

 

 

 

Days Sales Outstanding for the three months ended March 31, 2018: 44 (31 net of deferred revenue)

 

 

 

Share Information for the three months ended March 31, 2018:

 

 

Basic shares outstanding   263,827,963 
Dilutive effect of equity-based awards   760,106 
Diluted shares outstanding   264,588,069 

 

 

 

 

 - 7 - 

 

 

NON-GAAP RECONCILIATION SCHEDULE

(in thousands of U.S. dollars, except where noted)

 

 

Reconciliation of Adjusted EBITDA:

 

Adjusted EBITDA, a non-GAAP financial measure, is provided supplementally because it is widely used by investors as a performance and valuation measure in the solid waste industry. Management uses adjusted EBITDA as one of the principal measures to evaluate and monitor the ongoing financial performance of Waste Connections’ operations. Waste Connections defines adjusted EBITDA as net income attributable to Waste Connections, plus net income attributable to noncontrolling interests, plus or minus income tax provision (benefit), plus interest expense, less interest income, plus depreciation and amortization expense, plus closure and post-closure accretion expense, plus or minus any loss or gain on impairments and other operating items, plus other expense, less other income, plus foreign currency transaction loss, less foreign currency transaction gain. Waste Connections further adjusts this calculation to exclude the effects of other items management believes impact the ability to assess the operating performance of its business. This measure is not a substitute for, and should be used in conjunction with, GAAP financial measures. Other companies may calculate adjusted EBITDA differently.

 

   Three months ended
March 31,
 
   2017   2018 
Net income attributable to Waste Connections  $14,874   $124,869 
Plus: Net income attributable to noncontrolling interests   146    163 
Plus (less): Income tax provision (benefit)   (16,871)   31,852 
Plus: Interest expense   29,131    32,370 
Less: interest income   (449)   (1,155)
Plus: Depreciation and amortization   150,750    159,283 
Plus: Closure and post-closure accretion   2,917    3,238 
Plus: Impairments and other operating items   141,681    1,030 
Plus (less): Other expense (income), net   (1,017)   387 
Plus: Foreign currency transaction loss   590    221 
Adjustments:          
Plus: Transaction-related expenses (a)   1,744    2,385 
Plus: Pre-existing Progressive Waste share-based grants (b)   6,475    1,163 
Plus: Integration-related and other expenses (c)   2,828    1,110 
Adjusted EBITDA  $332,799   $356,916 
           
As % of revenues   30.5%    31.3% 

 

 

 

(a)Reflects the addback of acquisition-related transaction costs.
(b)Reflects share-based compensation costs, including changes in fair value and related expenses, associated with share-based awards granted by Progressive Waste outstanding at the time of the Progressive Waste acquisition.
(c)Reflects the addback of integration-related items, including rebranding costs, associated with the Progressive Waste acquisition.

 

 - 8 - 

 

 

NON-GAAP RECONCILIATION SCHEDULE (continued)

(in thousands of U.S. dollars, except where noted)

 

 

Reconciliation of Adjusted Free Cash Flow:

 

Adjusted free cash flow, a non-GAAP financial measure, is provided supplementally because it is widely used by investors as a valuation and liquidity measure in the solid waste industry. Management uses adjusted free cash flow as one of the principal measures to evaluate and monitor the ongoing financial performance of Waste Connections’ operations. Waste Connections defines adjusted free cash flow as net cash provided by operating activities, plus or minus change in book overdraft, plus proceeds from disposal of assets, less capital expenditures for property and equipment and distributions to noncontrolling interests. Waste Connections further adjusts this calculation to exclude the effects of items management believes impact the ability to assess the operating performance of its business. This measure is not a substitute for, and should be used in conjunction with, GAAP liquidity or financial measures. Other companies may calculate adjusted free cash flow differently.

 

   Three months ended
March 31,
 
   2017   2018 
Net cash provided by operating activities  $287,478   $307,247 
Plus/(less): Change in book overdraft   20,047    (295)
Plus: Proceeds from disposal of assets   18,815    1,002 
Less: Capital expenditures for property and equipment   (91,205)   (91,216)
Less: Distributions to noncontrolling interests   -    (103)
Adjustments:          
     Payment of contingent consideration recorded in earnings (a)   -    11 
     Cash received for divestitures (b)   (17,400)   - 
     Transaction-related expenses (c)   1,744    2,385 
     Integration-related and other expenses (d)   459    1,110 
     Pre-existing Progressive Waste share-based grants (e)   12,714    1,919 
     Synergy bonus (f)   11,798    - 
     Tax effect (g)   (6,959)   (1,907)
Adjusted free cash flow  $237,491   $220,153 
           
As % of revenues   21.8%    19.3% 

 

 

 

(a)Reflects the addback of acquisition-related payments for contingent consideration that were recorded as expenses in earnings and as a component of cash flows from operating activities as the amounts paid exceeded the fair value of the contingent consideration recorded at the acquisition date.
(b)Reflects the elimination of cash received in conjunction with the divestiture of Progressive Waste operations.
(c)Reflects the addback of acquisition-related transaction costs.
(d)Reflects the addback of integration-related items, including rebranding costs, associated with the Progressive Waste acquisition.
(e)Reflects the cash settlement of pre-existing Progressive Waste share-based awards and related payments during the period.
(f)Reflects the addback of cash bonuses paid pursuant to the Company’s Synergy Bonus Program in conjunction with the Progressive Waste acquisition.
(g)The aggregate tax effect of footnotes (a) through (f) is calculated based on the applied tax rates for the respective periods.

 

 - 9 - 

 

 

NON-GAAP RECONCILIATION SCHEDULE (continued)

(in thousands of U.S. dollars, except per share amounts)

 

 

Reconciliation of Net Income attributable to Waste Connections to Adjusted Net Income attributable to Waste Connections and Adjusted Net Income per Diluted Share attributable to Waste Connections:

 

Adjusted net income attributable to Waste Connections and adjusted net income per diluted share attributable to Waste Connections, both non-GAAP financial measures, are provided supplementally because they are widely used by investors as a valuation measure in the solid waste industry. Management uses adjusted net income attributable to Waste Connections and adjusted net income per diluted share attributable to Waste Connections as one of the principal measures to evaluate and monitor the ongoing financial performance of Waste Connections’ operations. Waste Connections provides adjusted net income attributable to Waste Connections to exclude the effects of items management believes impact the comparability of operating results between periods. Adjusted net income attributable to Waste Connections has limitations due to the fact that it excludes items that have an impact on the Company’s financial condition and results of operations. Adjusted net income attributable to Waste Connections and adjusted net income per diluted share attributable to Waste Connections are not a substitute for, and should be used in conjunction with, GAAP financial measures. Other companies may calculate these non-GAAP financial measures differently.

 

   Three months ended
March 31,
 
   2017   2018 
Reported net income attributable to Waste Connections  $14,874   $124,869 
Adjustments:          
Amortization of intangibles (a)   25,510    26,098 
Impairments and other operating items (b)   141,681    1,030 
Transaction-related expenses (c)   1,744    2,385 
Pre-existing Progressive Waste share-based grants (d)   6,475    1,163 
Integration-related and other expenses (e)   2,828    1,110 
     Tax effect (f)   (62,763)   (8,044)
Adjusted net income attributable to Waste Connections  $130,349   $148,611 
           
Diluted earnings per common share attributable to Waste Connections’ common shareholders:          
Reported net income  $0.06   $0.47 
Adjusted net income  $0.49   $0.56 

 

 

 

(a)Reflects the elimination of the non-cash amortization of acquisition-related intangible assets.
(b)Reflects the addback of impairments and other operating items.
(c)Reflects the addback of acquisition-related transaction costs.
(d)Reflects share-based compensation costs, including changes in fair value and related expenses, associated with share-based awards granted by Progressive Waste outstanding at the time of the Progressive Waste acquisition.
(e)Reflects the addback of integration-related items, including rebranding costs, associated with the Progressive Waste acquisition.
(f)The aggregate tax effect of the adjustments in footnotes (a) through (e) is calculated based on the applied tax rates for the respective periods.

 

 

 - 10 - 

View differences made from one to another to evaluate Waste Connections, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 8-K Corporate News to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Waste Connections, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account