News Releases

Waste Connections Reports First Quarter 2008 Results
- Reports revenue of $250.3 million, up 14.3%, and earnings per share of $0.34
- Reports internal growth of 8.1%
- Reports free cash flow of $35.4 million, or 14.2% of revenue, up 42.4%
- Repurchases approximately $31.5 million of common stock
FOLSOM, Calif.

Waste Connections, Inc. today announced its results for the first quarter 2008. Revenue totaled $250.3 million, a 14.3% increase over revenue of $219.0 million in the year ago period. Operating income was $50.8 million, a 9.4% increase over operating income of $46.4 million in the first quarter of 2007. Net income in the quarter was $23.1 million, or $0.34 per share on a diluted basis of 68.1 million shares. In the year ago period, the Company reported net income of $22.4 million and diluted earnings per share of $0.32. Non-cash costs for equity-based compensation and amortization of acquisition-related intangibles were $3.5 million ($2.1 million net of taxes, or approximately $0.03 per share) in the quarter compared to $2.7 million ($1.7 million net of taxes, or approximately $0.02 per share) in the year ago period.

"We continue to be extremely pleased with the underlying strength of our business in the face of spiraling fuel costs and more difficult weather conditions during the quarter. Excluding the dilutive margin impact of acquisitions completed since the year ago period, operating margins were almost flat year-over-year despite an almost 40% increase in average fuel costs resulting in fuel as a percentage of revenue increasing more than 150 basis points in the quarter," said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer. "Continuing pricing strength and the improving performance of recently completed acquisitions position us to recover a significant portion of this recent spike in fuel costs should diesel prices remain at record levels for the remainder of the year."

Waste Connections will be hosting a conference call related to first quarter earnings and second quarter outlook on April 22nd at 8:30 A.M. Eastern Time. The call will be broadcast live over the Internet at and through a link on the Company's web site at A playback of the call will be available at both of these sites.

For non-GAAP measures, see accompanying Non-GAAP Reconciliation Schedule.

Waste Connections, Inc. is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly secondary markets in the Western and Southern U.S. The Company serves approximately 1.5 million residential, commercial and industrial customers from a network of operations in 23 states. The Company also provides intermodal services for the movement of containers in the Pacific Northwest. Waste Connections, Inc. was founded in September 1997 and is headquartered in Folsom, California.

For more information, visit the Waste Connections web site at Copies of financial literature, including this release, are available on the Waste Connections web site or through contacting us directly at (916) 608-8200.

Certain statements contained in this press release are forward-looking in nature. These statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or comparable terminology, or by discussions of strategy. Waste Connections' business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to, the following: (1) Waste Connections may be unable to compete effectively with larger and better capitalized companies and governmental service providers; (2) increases in the price of fuel may adversely affect Waste Connections' business and reduce its operating margins; (3) increases in labor and disposal and related transportation costs could impact Waste Connections' financial results; (4) increases in insurance costs and the amount that Waste Connections self-insures for various risks could reduce its operating margins and reported earnings; (5) Waste Connections depends significantly on the services of the members of its senior, regional and district management team, and the departure of any of those persons could cause its operating results to suffer; (6) Waste Connections' financial results are based upon estimates and assumptions that may differ from actual results; (7) efforts by labor unions could divert management attention and adversely affect operating results; (8) Waste Connections' results are vulnerable to economic conditions and seasonal factors affecting the regions in which it operates; (9) Waste Connections may lose contracts through competitive bidding, early termination or governmental action; (10) Waste Connections may be subject in the normal course of business to judicial and administrative proceedings that could interrupt its operations, require expensive remediation, result in adverse judgments or settlements and create negative publicity; (11) competition for acquisition candidates, consolidation within the waste industry and economic and market conditions may limit Waste Connections' ability to grow through acquisitions; (12) Waste Connections' growth and future financial performance depend significantly on its ability to integrate acquired businesses into its organization and operations; (13) Waste Connections' acquisitions may not be successful, resulting in changes in strategy, operating losses or a loss on sale of the business acquired; (14) because Waste Connections depends on railroads for its intermodal operations, its operating results and financial condition are likely to be adversely affected by any reduction or deterioration in rail service; (15) Waste Connections' decentralized decision- making structure could allow local managers to make decisions that adversely affect Waste Connections' operating results; (16) Waste Connections may incur additional charges related to capitalized expenditures, which would decrease its earnings; (17) each business that Waste Connections acquires or has acquired may have liabilities that Waste Connections fails or is unable to discover, including environmental liabilities; (18) liabilities for environmental damage may adversely affect Waste Connections' business and earnings; and (19) the adoption of new accounting standards or interpretations could adversely affect Waste Connections' financial results. These risks and uncertainties, as well as others, are discussed in greater detail in Waste Connections' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. There may be additional risks of which Waste Connections is not presently aware or that it currently believes are immaterial which could have an adverse impact on its business. Waste Connections makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.

                      - financial tables attached -

                         WASTE CONNECTIONS, INC.
                THREE MONTHS ENDED MARCH 31, 2007 AND 2008
            (in thousands, except share and per share amounts)

                                                  Three months ended
                                                       March 31,
                                               2007                2008

  Revenues                                $   218,951         $   250,300
  Operating expenses:
    Cost of operations                        128,869             149,132
    Selling, general and administrative        23,910              27,090
    Depreciation and amortization              19,590              23,223
    Loss on disposal of assets                    160                  57
  Operating income                             46,422              50,798

  Interest expense, net                        (7,818)             (9,319)
  Minority interests                           (2,840)             (3,373)
  Other income (expense), net                      51                 (12)
  Income before income taxes                   35,815              38,094

  Income tax provision                        (13,435)            (14,976)
  Net income                                   22,380         $    23,118

  Basic earnings per common share         $      0.33         $      0.35

  Diluted earnings per common share       $      0.32         $      0.34

  Shares used in the per share calculations:
    Basic                                  68,465,359          66,789,398
    Diluted                                70,583,096          68,121,953

                         WASTE CONNECTIONS, INC.
            (in thousands, except share and per share amounts)

                                                December 31,      March 31,
                                                   2007             2008
  Current assets:
    Cash and equivalents                           $10,298         $9,505
    Accounts receivable, net of allowance
     for doubtful accounts of $4,387 and
     $3,716 at December 31, 2007 and
     March 31, 2008, respectively                  123,882        116,193
    Deferred income taxes                           14,732         15,552
    Prepaid expenses and other current
     assets                                         21,953         15,512
      Total current assets                         170,865        156,762

  Property and equipment, net                      865,330        870,316
  Goodwill                                         811,049        824,929
  Intangible assets, net                            93,957        109,376
  Restricted assets                                 19,300         20,090
  Other assets, net                                 21,457         21,512
                                                $1,981,958     $2,002,985

  Current liabilities:
    Accounts payable                               $59,912        $51,194
    Bank overdraft                                   8,835          5,239
    Accrued liabilities                             69,578         76,185
    Deferred revenue                                44,074         44,343
    Current portion of long-term debt
     and notes payable                              13,315         13,473
      Total current liabilities                    195,714        190,434

  Long-term debt and notes payable                 719,518        744,514
  Other long-term liabilities                       38,053         45,517
  Deferred income taxes                            223,308        227,197
      Total liabilities                          1,176,593      1,207,662

  Commitments and contingencies
  Minority interests                                30,220         30,751

  Stockholders' equity:
  Preferred stock: $0.01 par value;
   7,500,000 shares authorized;
   none issued and outstanding                           -              -
  Common stock: $0.01 par value;
   150,000,000 shares authorized;
   67,052,135 and 66,397,922 shares issued
   and outstanding at December 31, 2007 and
   March 31, 2008, respectively                        670            664
  Additional paid-in capital                       254,284        229,151
  Retained earnings                                524,481        547,599
  Accumulated other comprehensive income            (4,290)       (12,842)
      Total stockholders' equity                   775,145        764,572
                                                $1,981,958     $2,002,985

                         Waste Connections, Inc.
             Condensed Consolidated Statements of Cash Flows
                THREE MONTHS ENDED MARCH 31, 2007 AND 2008
                          (Dollars in thousands)

                                                      Three months ended
                                                            March 31,
                                                      2007           2008

  Cash flows from operating activities:
  Net income                                         $22,380        $23,118
  Adjustments to reconcile net income to
   net cash provided by operating
    Loss on disposal of assets                           160             57
    Depreciation                                      18,558         21,827
    Amortization of intangibles                        1,032          1,396
    Deferred income taxes, net of acquisitions         2,852          7,989
    Minority interests                                 2,840          3,373
    Amortization of debt issuance costs                  482            486
    Stock-based compensation                           1,663          2,065
    Interest income on restricted assets                (107)          (170)
    Closure and post-closure accretion                   253            333
    Excess tax benefit associated with
     equity-based compensation                        (2,260)        (1,101)
    Net change in operating assets and
     liabilities, net of acquisitions                 13,061          5,220
  Net cash provided by operating activities           60,914         64,593

  Cash flows from investing activities:
    Payments for acquisitions, net of
     cash acquired                                   (35,860)       (32,327)
    Capital expenditures for property
     and equipment                                   (36,147)       (24,108)
    Proceeds from disposal of assets                     215            301
    Increase in restricted assets, net of
     interest income                                    (581)          (621)
    Decrease (increase) in other assets                 (517)            96
  Net cash used in investing activities              (72,890)       (56,659)

  Cash flows from financing activities:
    Proceeds from long-term debt                      21,000         80,500
    Principal payments on notes payable and
     long-term debt                                  (23,616)       (57,487)
    Change in book overdraft                               -         (3,596)
    Proceeds from option and warrant exercises         6,513          5,124
    Excess tax benefit associated with
     equity-based compensation                         2,260          1,101
    Distributions to minority interest holders        (2,352)        (2,842)
    Payments for repurchase of common stock           (5,414)       (31,527)
    Debt issuance costs                                 (100)             -
  Net cash used in financing activities               (1,709)        (8,727)

  Net decrease in cash and equivalents               (13,685)          (793)
  Cash and equivalents at beginning of period         34,949         10,298
  Cash and equivalents at end of period              $21,264         $9,505

                          ADDITIONAL STATISTICS
                    THREE MONTHS ENDED MARCH 31, 2008
                          (Dollars in thousands)

Internal Growth: The following table reflects revenue growth for operations owned for at least 12 months:

                                               Three Months Ended
                                                  March 31, 2008
  Price                                               5.3%
  Volume                                              2.2%
  Intermodal, Recycling and Other                     0.6%
  Total                                               8.1%

  Uneliminated Revenue Breakdown:

                                               Three Months Ended
                                                  March 31, 2008
  Collection                                 $186,161          65.9%
  Disposal and Transfer                        72,158          25.6%
  Intermodal, Recycling and Other              23,960           8.5%
  Total                                      $282,279         100.0%

  Inter-company elimination                   $31,979

Days Sales Outstanding for the three months ended March 31, 2008: 42 (26 net of deferred revenue)

  Internalization for the three months ended March 31, 2008:  68%

  Other Cash Flow Items for the three months ended March 31, 2008:
    Cash Interest Paid:  $6,998
    Cash Taxes Paid:     $  215

  Debt to Capitalization:  49.8%

  Share Information for the three months ended March 31, 2008:

    Basic shares outstanding                      66,789,398
    Dilutive effect of options and warrants        1,189,879
    Dilutive effect of restricted stock              142,676
    Diluted shares outstanding                    68,121,953

    Shares repurchased                             1,041,271

                              (in thousands)

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. Waste Connections defines free cash flow as net cash provided by operating activities, plus proceeds from disposal of assets and excess tax benefit associated with equity-based compensation, plus or minus change in book overdraft, less capital expenditures for property and equipment and distributions to minority interest holders. This measure should be used in conjunction with GAAP financial measures. Management uses free cash flow as one of the principal measures to evaluate and monitor the ongoing financial performance of our operations. Other companies may calculate free cash flow differently.

  Free cash flow reconciliation:

                                 Three Months Ended     Three Months Ended
                                   March 31, 2007         March 31, 2008

  Net cash provided by
   operating activities                   $60,914                $64,593
  Change in book overdraft                      -                 (3,596)
  Plus: Proceeds from disposal of
   assets                                     215                    301
  Plus: Excess tax benefit associated
   with equity-based compensation           2,260                  1,101
  Less: Capital expenditures for
   property and equipment                 (36,147)               (24,108)
  Less: Distributions to minority
   interest holders                        (2,352)                (2,842)
  Free cash flow                          $24,890                $35,449

  Free cash flow as % of revenues            11.4%                  14.2%

First Call Analyst:
FCMN Contact:

SOURCE: Waste Connections, Inc.

CONTACT: Worthing Jackman of Waste Connections, Inc., +1-916-608-8266,