Welcome to our dedicated page for Casella Waste news (Ticker: CWST), a resource for investors and traders seeking the latest updates and insights on Casella Waste stock.
Casella Waste Systems Inc. (Nasdaq: CWST) is a prominent leader in the field of resource management and solid waste removal. Headquartered in Rutland, Vermont, Casella has established a substantial presence across the Eastern United States since its inception in 1975 as a single truck operation. The company's extensive service offerings cater to residential, commercial, municipal, and industrial customers, focusing on solid waste collection, disposal, recycling, organics, and energy recovery.
Over the years, Casella has expanded its operations into six states, continuously innovating its service portfolio to meet the evolving needs of its diverse clientele. The company's mission, 'To create value for our customers, our communities, and our company by giving resources new life®', underscores its commitment to sustainability and environmental stewardship.
Key Services and Segments:
- Recycling: Casella pioneered recycling in Vermont with its first facility in 1977. The company continues to lead in recycling solutions, helping to reduce waste and promote sustainability.
- Collection: Casella provides reliable waste collection services tailored to the specific needs of its customers, ensuring efficient and environmentally friendly disposal.
- Organics: The company offers organics recycling services, turning food and organic waste into valuable compost and soil amendments.
- Energy Recovery: Casella is involved in energy recovery projects, converting waste into renewable energy sources.
- Landfills: The company operates state-of-the-art landfills, ensuring safe and compliant waste disposal solutions.
- Special Waste and Professional Services: Casella offers specialized waste management services for unique waste streams, supported by professional advisory services.
In recent developments, Casella has actively engaged in partnerships and innovative projects to enhance its service capabilities. Notably, a collaboration with BD (Becton, Dickinson and Company) resulted in a successful recycling pilot program for discarded medical syringes and needles, diverting 40,000 pounds of medical waste from disposal. This initiative demonstrates Casella's expertise in tackling complex waste management challenges and contributing to the circular economy.
Financially, Casella continues to show robust performance. For the quarter ended September 30, 2023, the company reported revenues of $352.7 million, marking a 19.5% increase from the same period in 2022. Despite some fluctuations in net income and adjusted earnings, the company's strategic acquisitions and pricing programs have driven substantial revenue growth. Casella's recent acquisitions and expanded footprint into the Mid-Atlantic region highlight its aggressive growth strategy and potential for future market expansion.
Casella's focus on operational efficiency, customer service, and sustainable practices positions it as a key player in the resource management industry. With a strong foundation and a forward-looking approach, Casella Waste Systems Inc. continues to lead in transforming waste into valuable resources, benefiting both the environment and the communities it serves.
Casella Waste Systems (NASDAQ:CWST) announced an offering of up to $25.0 million in Vermont Economic Development Authority Solid Waste Disposal Revenue Bonds. This represents the drawdown of remaining funds from a larger bond series, following an initial $35.0 million loan in June 2022.
The bonds will be guaranteed by Casella's subsidiaries and will be available to qualified institutional buyers under Rule 144A. The company plans to use the proceeds to finance capital projects in Vermont. The bonds must be drawn by June 1, 2025, and will not constitute indebtedness of the State of Vermont or the Issuer, being payable solely from remarketing proceeds and amounts received from Casella.
Casella Waste Systems (Nasdaq: CWST) has been named to Forbes 'America's Best Midsize Employers' list for 2025, standing out as the only waste management company and Vermont-headquartered organization among nearly 500 recognized businesses. The selection process involved a Statista survey of over 217,000 employees at U.S. companies with 1,000+ workers.
The company's commitment to employee development is exemplified by its Kenneth A. Hier Sr. CDL Training Center, established in 2020, which has trained over 300 new drivers. This initiative honors Hier, Casella's first employee from 1976, who completed more than one million service stops in his 41-year career.
Building on its recognition on Time's America's Best Midsize Companies 2024 List, Casella continues expanding its workforce development programs beyond driver training to include mechanics, technicians, and frontline leaders. Chairman and CEO John W. Casella emphasizes that their service-first approach, dating back to 1975, has been important to employee satisfaction and business growth as they expand beyond 5,000 employees.
Casella Waste Systems (CWST), a regional solid waste, recycling, and resource management services company, has announced its participation in two upcoming investor conferences:
• The Raymond James 46th Annual Institutional Investors Conference on Monday, March 3, 2025
• The Gabelli 11th Annual Waste & Sustainability Symposium on Thursday, April 3, 2025
Presentation materials will be made available in the 'Events & Presentations' section of CWST's investor website prior to each presentation. Where applicable, live webcast links will be posted on the company's investor website. Interested parties can access additional information through Jason Mead, Senior Vice President of Finance & Treasurer.
Casella Waste Systems (NASDAQ: CWST) reported its Q4 and fiscal year 2024 results, showing significant growth across key metrics. Q4 revenues increased 18.9% to $427.5 million, while fiscal year 2024 revenues grew 23.1% to $1.557 billion. The company's solid waste pricing increased 5.7% in FY2024.
Q4 net income reached $4.9 million, up from a loss of $1.8 million in 2023. However, FY2024 net income decreased 46.7% to $13.5 million. Adjusted EBITDA for FY2024 grew 22.4% to $360.6 million, and Adjusted Free Cash Flow increased 23.4% to $158.3 million.
The company completed eight acquisitions in 2024 with over $200 million in annualized revenues, and three additional acquisitions in early 2025 adding approximately $40 million in annualized revenues. For fiscal year 2025, CWST projects revenues between $1.775-1.805 billion and net income between $10-25 million.
Casella Waste Systems (NASDAQ: CWST), a regional solid waste, recycling, and resource management services company, has announced its upcoming fourth quarter 2024 financial results release and conference call schedule. The company will release its financial results for the quarter ended December 31, 2024, after market close on Wednesday, February 12, 2025.
A conference call to discuss the results is scheduled for Thursday, February 13, 2025, at 10:00 a.m. Eastern Time. Interested participants can register online to receive dial-in and passcode details. The call will also be webcast through the company's investor relations website, with a replay available afterward.
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.
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