Welcome to our dedicated page for Casella Waste Systems news (Ticker: CWST), a resource for investors and traders seeking the latest updates and insights on Casella Waste Systems 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) will announce its financial results for Q4 2020 on February 18, 2021, post-market close. A conference call to discuss these results is scheduled for February 19, 2021, at 10:00 a.m. ET. Participants can join by calling (877) 838-4153 or (720) 545-0037 for international calls, with Conference ID 933 8304. The call will be webcast on the company's website, and a replay will be available. For more information, contact Ned Coletta, CFO, at (802) 772-2239.
Casella Waste Systems, a regional solid waste and recycling services firm, will present at two virtual investor conferences. The Baird's 2020 Global Industrial Conference is scheduled for November 11, 2020, at 10:50 AM Eastern Time, followed by the Raymond James SMID Cap Company Showcase on November 12, 2020. Presentations will be available before the events via the Investors' section of their website. For more information, contact CFO Ned Coletta at (802) 772-2239 or visit their official site.
Casella Waste Systems (CWST) reported strong financial results for Q3 2020, with revenues of $202.7 million, up 2.1% from Q3 2019. Net income reached $15.1 million, a 22.0% increase, and adjusted EBITDA climbed to $51.3 million, reflecting a 5.9% growth. The company raised its guidance for full-year 2020 in several key metrics, including revenues projected between $760 million and $775 million. Despite an 8.4% decline in solid waste volumes due to COVID-19, operational improvements and strategic acquisitions contributed positively to cash flow management.
Casella Waste Systems (NASDAQ:CWST) has successfully closed an underwritten public offering, selling 2,702,500 shares of Class A common stock at $56.00 per share, resulting in gross proceeds of $151.3 million. The additional shares were sold through the underwriters’ option, enhancing the offering's total. Funds from the offering will support general corporate purposes, including potential acquisitions and capital expenditures. The underwriting was managed by Raymond James and BofA Securities, among others.
On October 21, 2020, Casella Waste Systems (NASDAQ:CWST) announced a public offering of 2,350,000 shares of Class A common stock, priced at $56.00 per share, aiming for gross proceeds of approximately $131.6 million. The company has granted underwriters a 30-day option to purchase an additional 352,500 shares. Proceeds will be utilized for general corporate purposes, including potential acquisitions and capital expenditures. The offering is expected to close around October 23, 2020, and is conducted under a registration statement filed with the SEC.
Casella Waste Systems (NASDAQ:CWST) announced a public offering of 2,350,000 shares of its Class A common stock, with an additional 352,500 share option for underwriters. The net proceeds are planned for general corporate purposes, including potential acquisitions and capital expenditures. The offering is registered under an effective automatic shelf statement with the SEC, and will be managed by Raymond James and BofA Securities. Casella operates in solid waste and recycling services primarily in the northeastern United States.
Casella Waste Systems (CWST) announced a permit modification from the New Hampshire Department of Environmental Services to expand its North Country Environmental Services landfill by approximately 1.24 million cubic yards. This expansion translates to about six additional years of disposal capacity, enabling Casella to better serve over 50,000 customers across 150 communities in the state. The permit was issued on October 9, 2020, marking a crucial step in the company’s long-term strategy and providing significant economic support amidst a disposal capacity shortage in the Northeast.
Casella Waste Systems (Nasdaq: CWST) announced the retirement of General Counsel David L. Schmitt effective December 31, 2020, after 14 years. Shelley E. Sayward, currently Vice President and Assistant General Counsel, will succeed him on January 1, 2021. CEO John W. Casella emphasized Sayward's contributions and the importance of talent development within the company. Schmitt expressed gratitude for his tenure, noting the positive impact of his work on shareholder value. Sayward has held various legal roles since joining in 2006 and is recognized for her capabilities.
Casella Waste Systems (CWST) will release its financial results for the third quarter ending September 30, 2020, on October 29, 2020, after market close. A conference call will follow on October 30, 2020, at 10:00 a.m. ET, where participants can dial (877) 838-4153 (U.S.) or (720) 545-0037 (international) with Conference ID 246 1608. The call will also be webcast on the company’s website, and a replay will be available afterwards. For more information, contact Ned Coletta, CFO, at (802) 772-2239 or visit www.casella.com.
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