Casella Waste Systems Inc - CWST STOCK NEWS

Casella Waste Systems (NASDAQ:CWST) has announced the pricing of up to $45.0 million Finance Authority of Maine Solid Waste Disposal Revenue Bonds. The bonds will carry a 4.625% annual interest rate through June 1, 2035, and will mature on December 1, 2047.

The bonds will be guaranteed by substantially all of Casella's subsidiaries and are expected to close on December 23, 2024. The proceeds will be used to fund qualifying capital projects in Maine, cover issuance costs, and refinance the Authority's 2005 Series bonds due January 2025.

The bonds will be offered exclusively to qualified institutional buyers under Rule 144A and will not constitute indebtedness of the Authority or the State of Maine.

Casella Waste Systems (CWST) has dedicated its CDL Training Center to Ken Hier, the company's first employee hired in 1976, who passed away in January. The Kenneth A. Hier Sr. CDL Training Center, established in 2020, has graduated nearly 300 drivers and offers free commercial driver's license training valued at $5,000 per student.

The 10-day program, which includes training, room, and board, boasts a nearly 100% pass rate and requires a two-year employment commitment. Hier, known as 'The Man on the Mountain,' completed over one million successful service stops in his 41-year career and was named the National Waste and Recycling Association's Driver of the Year in 1996.

Casella Waste Systems (NASDAQ:CWST) announced an offering of up to $45.0 million in Solid Waste Disposal Revenue Bonds through the Finance Authority of Maine. The bonds will be guaranteed by Casella's subsidiaries and are intended to fund qualifying capital projects in Maine, cover issuance costs, and refinance the 2005 Series bonds maturing on January 1, 2025. The bonds will be offered exclusively to qualified institutional buyers under Rule 144A and will not constitute state indebtedness, being payable solely from remarketing proceeds and amounts received from Casella under the Financing Agreement.

Casella Waste Systems (Nasdaq: CWST) has announced its participation in two upcoming investor conferences: the Baird 2024 Global Industrial Conference on Tuesday, November 12, 2024, and the Goldman Sachs Industrials and Materials Conference on Thursday, December 5, 2024. The company, which specializes in regional solid waste, recycling, and resource management services, will make presentation materials available in the 'Events & Presentations' section of their investor website. Live webcast links will be provided where applicable.

Casella Waste Systems (NASDAQ: CWST) reported Q3 2024 results with revenues of $411.6 million, up 16.7% year-over-year. While solid waste pricing increased 5.5%, net income decreased 68.2% to $5.8 million. Adjusted EBITDA grew 14.9% to $102.9 million. The company completed six acquisitions year-to-date with over $200 million in aggregate annualized revenues, including Royal Carting and Welsh Sanitation. Operating performance was impacted by insurance expense accruals and lower landfill volumes. The company updated its fiscal year 2024 guidance, lowering net income expectations to $10-20 million while maintaining revenue guidance of $1.520-1.550 billion.

Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, has announced it will release its financial results for the third quarter of 2024 after market close on Wednesday, October 30, 2024. The company will host a conference call to discuss these results on Thursday, October 31, 2024 at 10:00 a.m. Eastern Time.

Interested participants can register online to obtain dial-in and passcode details. The call will also be webcast on the company's website. A replay of the call will be available on the website. For further information, contact Charlie Wohlhuter, Director of Investor Relations, at (802) 772-2230 or visit the company's website at http://www.casella.com.

Casella Waste Systems, Inc. (Nasdaq: CWST) has announced the closing of a $1.5 billion amended and restated credit facility with Bank of America, N.A. as administrative agent and a syndicate of lenders. This new Credit Facility, maturing on September 27, 2029, replaces the company's previous $1.08 billion facility. It includes an $800 million term loan A facility and a $700 million revolving credit facility with a $155 million sublimit for letters of credit.

The revolving credit facility was undrawn at closing, providing increased liquidity for general corporate purposes and supporting the company's acquisition strategy. Interest rates for SOFR-based borrowings range from 1.300% to 2.175% based on the consolidated net leverage ratio. Joint lead arrangers include BofA Securities, JPMorgan Chase Bank, Citizens Bank, TD Bank, Wells Fargo Securities, and Comerica Bank.

Casella Waste Systems (Nasdaq: CWST) has released its 2024 Sustainability Report, highlighting significant achievements since 2022. The company has grown its workforce by over 32%, approaching 5,000 employees, while improving safety performance with a 20% reduction in total recordable incident rate in 2023. Casella has invested in employee training, enhanced compensation plans, and achieved its community giving goal ahead of schedule, contributing over $2.2 million in donations and services.

The company has made progress in climate leadership, earning a spot on USA Today's "America's Climate Leaders 2024" list for the second consecutive year. Casella estimates that for every ton of greenhouse gas emitted, it helped prevent more than five tons elsewhere in the economy. The company is also on track to achieve its goal of recycling more than 2 million tons by 2030, having increased recycled materials by 36% since 2019.

These achievements have led to Casella's recognition on Time Magazine's America's Best Midsized Companies 2024 list, acknowledging its success in employee satisfaction, revenue growth, and sustainability transparency.

Casella Waste Systems (NASDAQ: CWST) has closed its public offering of Class A common stock, including the full exercise of the underwriters' option to purchase additional shares. The company sold a total of 5,175,000 shares at $100.00 per share, raising aggregate gross proceeds of $517.5 million. The net proceeds will be used to finance the acquisition of Royal Carting and Welsh Sanitation, repay borrowings under its revolving credit facility, and for general corporate purposes.

The offering was managed by Raymond James, J.P. Morgan, and Stifel as joint book-running managers, with Goldman Sachs & Co. and Wolfe | Nomura Alliance acting as passive book-runners. The shares were offered through an automatically effective shelf registration statement previously filed with the SEC.