3 Canadian Stocks That Look Built for Uncertain Times

Uncertain markets have a way of sorting the showboats from the survivors. When investors feel nervous, the best Canadian stocks often share a few simple traits. They sell products or services people still need, they generate reliable cash flow, and they don’t depend on perfect economic weather to keep moving. Insurance, waste collection, and other essential services may not sound thrilling. Yet that’s exactly the point. In a volatile market, boring can look beautiful.

IAG

iA Financial (TSX:IAG) offers insurance, wealth management, savings, and retirement products across Canada and the United States. That gives it a practical place in uncertain times. People may delay vacations or big purchases, but they still need insurance and long-term financial planning. In fact, volatile markets can make households think more seriously about protection, retirement, and financial security.

The numbers also support the case. For 2025, iA reported core earnings per share (EPS) growth of 16%, core return on equity of 17.1%, and assets under management (AUM) and administration of $341.1 billion. That last figure climbed 31% over 12 months, helped by strong segregated fund inflows, markets, and its RF Capital Group acquisition.

Around recent trading levels, IAG sat near 15 times earnings, which doesn’t scream bargain but still looks reasonable for a growing insurer. The risk is that a market downturn could slow wealth growth sales and pressure investor confidence. Even so, iA’s mix of insurance, wealth, capital strength, and dividend growth gives it a sturdy feel. Add in a dividend of 2.2%, and it looks downright welcoming.

WCN

Waste Connections (TSX:WCN) brings the same kind of recession-resistant appeal, just through a different essential service. The company collects, transfers, recycles, and disposes of waste across North America. Garbage pickup isn’t optional. Businesses, homes, municipalities, and construction sites keep producing waste in strong and weak economies. That gives WCN stock a steady base that many companies would love to have.

Its latest results show why WCN stock often earns a premium valuation. In the first quarter of 2026, Waste Connections reported revenue of US$2.37 billion, up from US$2.23 billion a year earlier. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to US$769.5 million, while adjusted earnings hit US$1.23 per diluted share.

For full-year 2025, revenue reached US$9.47 billion, up 6.1%, with adjusted EBITDA of US$3.13 billion. The catch is valuation. WCN stock rarely looks cheap, and higher fuel or labour costs can pinch margins. Right now, in fact, it trades at 40 times earnings and 21.8 times forward earnings. Yet its pricing power, acquisition pipeline, and essential-service model make it a strong fit when investors want durability. And again, there’s a 0.85% dividend yield, which is small, but not nothing.

Foolish takeaway

The bottom line is simple. Uncertain times don’t call for complicated bets. They call for companies with real demand, strong cash flow, and businesses people keep using no matter what headlines say. IA Financial offers current exposure to insurance and wealth growth. WCN stock adds a quietly powerful defensive layer. And both can still bring in some income with a $7,000 investment.

COMPANYRECENT PRICENUMBER OF SHARESANNUAL DIVIDENDANNUAL TOTAL PAYOUTFREQUENCYTOTAL INVESTMENTIAG$175.1439$3.87$150.93Quarterly$6,830.46WCN$224.5031$1.91$59.21Quarterly$6,959.50

Together, they show why boring businesses can become very exciting when markets get rough.

The post 3 Canadian Stocks That Look Built for Uncertain Times appeared first on The Motley Fool Canada.

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More reading

• 3 Canadian Stocks That Look Undervalued Enough to Buy With Confidence
• 2 Strong Stocks Worth Putting Your $7,000 TFSA Contribution Behind This Year
• 2 Attractively Priced Canadian Stocks That Look Worth Buying Right Now
• TSX Today: What to Watch for in Stocks on Friday, April 24
• 5 Canadian Dividend Stocks That Could Grow Your Paycheque Over Time

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Waste Connections. The Motley Fool has a disclosure policy.