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.
On October 1, 2020, Casella Waste Systems, Inc. (NASDAQ: CWST) acquired the assets of Pinto Trucking Services, Inc., a company providing waste collection services in Grand Island and Buffalo, NY. This acquisition is projected to generate approximately $4 million in annualized revenues. Casella aims to enhance vertical integration in Western New York and sees growth potential in this market. Year-to-date, Casella has achieved roughly $21 million in annualized revenues through nine acquisitions, indicating a robust acquisition pipeline and a focus on cash flow growth.
Casella Waste Systems announces the pricing of a $40 million offering of Solid Waste Disposal Revenue Bonds, Series 2020R-1. The bonds, maturing on September 1, 2050, will have a fixed interest rate of 2.75% over a 5-year term. Proceeds will finance capital projects in New York. The bond issuance is set to close on September 2, 2020. Casella's subsidiaries will guarantee the bonds, which are offered solely to qualified institutional buyers. The company faces uncertainties related to the bond issuance and its execution, as highlighted in their forward-looking statements.
Casella Waste Systems has resumed its offering of up to $40 million in Solid Waste Disposal Revenue Bonds, initially delayed due to COVID-19 market conditions. The bonds will be guaranteed by its subsidiaries and the net proceeds will finance capital projects in New York. The timing and terms depend on market conditions, and there’s no guarantee the offering will be completed. Additionally, a further $75 million in additional bonds may be offered in the future, but these will not constitute state debt and are dependent on Casella's performance.
Casella Waste Systems has appointed Rose Stuckey Kirk to its Board of Directors, effective July 31, 2020. Currently serving as the Chief Corporate Social Responsibility Officer at Verizon, Ms. Kirk brings extensive leadership experience across various domains including operations, sales, and marketing. Her appointment expands Casella's Board to ten members, with eight independent directors. Ms. Kirk will also join the Board's Compensation Committee, where her expertise is expected to enhance stakeholder engagement and contribute to the company’s strategic direction.
Casella Waste Systems (CWST) reported Q2 2020 revenues of $188.8 million, reflecting a 0.7% increase from Q2 2019. Net income rose to $12.1 million, a 1.7% increase. Adjusted EBITDA reached $44.0 million, an 8.9% rise. COVID-19 had a minimal impact on overall revenue, with about 85% from stable sources. The company expects 2020 revenues between $755 million and $770 million and net income between $23 million and $28 million, down from 2019. Strong cost management and strategic acquisitions support growth despite a dip in solid waste volumes by 12.4%.
Casella Waste Systems, trading under the ticker CWST, will present at two virtual investor conferences. The Stifel 2020 Virtual Investor Summit is scheduled for August 10, 2020, at 3:00 PM ET. Following this, the Raymond James Virtual Diversified Industrials Conference will take place on August 25, 2020, at 3:20 PM ET. Presentations will be available prior to the events on the company’s investor relations website, and the conferences will be webcast live. For more information, contact CFO Ned Coletta.
Casella Waste Systems (Nasdaq: CWST) will announce its financial results for the quarter ending June 30, 2020, on August 3, 2020, after market closure. A conference call will be held on August 4, 2020, at 10:00 a.m. ET to discuss these results. Participants can join by calling (877) 838-4153, or (720) 545-0037 for international callers, with a Conference ID of 196 4199. The call will also be available via webcast on the company’s website. Replay options will be provided.
Casella Waste Systems (Nasdaq: CWST) announced its participation in two upcoming virtual investor conferences. The first is the UBS Virtual Global Industrials and Transportation Conference on June 3, 2020, at 2:10 PM ET. The second is the Stifel 2020 Virtual Cross Sector Insight Conference on June 9, 2020, at 8:40 AM ET. Presentations will be available on the company’s investor website shortly before the events. Both conferences will also be webcast live, enhancing access for investors.
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