SECURE Waste Infrastructure Corp
F:SEP0
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SECURE Waste Infrastructure Corp
SECURE Waste Infrastructure Corp. engages in the provision of safe and environmentally responsible fluids and solids solutions to the oil and gas industry. The company is headquartered in Calgary, Alberta and currently employs 1,817 full-time employees. The company went IPO on 2010-03-30. Its Waste Management segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer stations, metal recycling facilities, and specialty chemicals. Through this infrastructure network, it carries out business operations, including the collection, processing, recovery, recycling and disposal of waste streams generated by its energy and industrial customers. Its services include product and wastewater disposal, hazardous and non-hazardous waste collection, processing and transfer, treatment of crude oil emulsions, metal recycling, drilling waste management and specialty chemicals. Its Energy Infrastructure segment includes a network of crude oil gathering pipelines, terminals and storage facilities. The company engages in the transportation, optimization, terminalling and storage of crude oil.
SECURE Waste Infrastructure Corp. engages in the provision of safe and environmentally responsible fluids and solids solutions to the oil and gas industry. The company is headquartered in Calgary, Alberta and currently employs 1,817 full-time employees. The company went IPO on 2010-03-30. Its Waste Management segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer stations, metal recycling facilities, and specialty chemicals. Through this infrastructure network, it carries out business operations, including the collection, processing, recovery, recycling and disposal of waste streams generated by its energy and industrial customers. Its services include product and wastewater disposal, hazardous and non-hazardous waste collection, processing and transfer, treatment of crude oil emulsions, metal recycling, drilling waste management and specialty chemicals. Its Energy Infrastructure segment includes a network of crude oil gathering pipelines, terminals and storage facilities. The company engages in the transportation, optimization, terminalling and storage of crude oil.
EBITDA Growth: Adjusted EBITDA for Q3 was $135 million, up 6% year-over-year, with per-share growth of 17%.
Revenue Decline: Revenue (excluding oil purchase and resale) was $365 million, down 2% from the prior year due to lower specialty chemical sales and drilling activity.
Guidance Lowered: 2025 adjusted EBITDA guidance was revised to approximately $500 million, a 2% reduction from the prior range, due to continued weakness in metal recycling and lower drilling/completions.
Metal Recycling Headwinds: Tariffs and soft Canadian demand led to a buildup of ferrous inventory, with 95% of shipments now redirected to U.S. markets; full financial benefit expected in 2026.
Strong Cash Returns: $335 million was returned to shareholders year-to-date via dividends and share repurchases, reducing outstanding shares by 8%.
Balance Sheet Health: Leverage remains low at 2.1x debt-to-EBITDA (1.8x excluding leases), with over $300 million in liquidity.
Operational Execution: Despite lower volumes in some segments, price increases and cost controls supported margins, and key infrastructure projects remain on schedule.
