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 reported strong financial results for Q4 and fiscal year 2021, with revenues of $241.8 million (up 20.8%) and total revenues of $889.2 million (up 14.8%). Despite a net income drop to $9.1 million for Q4, adjusted net income rose 25.6% to $11.0 million. Adjusted EBITDA increased by 20.6% to $51.4 million. The company acquired 10 businesses, contributing approximately $88 million in annualized revenues. Guidance for fiscal year 2022 forecasts revenues between $980 million and $995 million, with a projected net income of $48 million to $52 million.
Casella Waste Systems, a regional solid waste and recycling company, will announce its financial results for Q4 2021 on February 17, 2022, after market close. A conference call discussing these results will take place on February 18, 2022, at 10:00 a.m. ET. Interested participants should dial (877) 838-4153 or (720) 545-0037 for international calls, using Conference ID 617 6314. The call will also be available via webcast on the company's website, followed by a replay accessible through the same platforms.
Casella Waste Systems (NASDAQ: CWST) announced on December 22, 2021, that it secured a new $650 million credit facility, which replaces its previous $550 million credit agreement. The new facility includes a $350 million term loan and a $300 million revolving credit line, with lower interest margins for LIBOR-based borrowings, now between 1.125% and 2.125%. This agreement, maturing on December 22, 2026, also introduces provisions to transition from LIBOR to a SOFR-based benchmark. Details will be provided in a forthcoming Current Report on Form 8-K.
Casella Waste Systems (CWST) reported strong Q3 results, exceeding expectations with revenues of $242 million, marking a 19.4% increase year-over-year. Net income rose to $15.9 million, a 4.9% increase. The company increased its fiscal year 2021 guidance to $870-$880 million in revenues and $37-$41 million in net income, reflecting strong operational execution and ongoing acquisitions. Adjusted EBITDA for the quarter was $61.2 million, up 19.4%. The company also experienced a 4.1% increase in solid waste pricing and solid growth in cash flow metrics.
Casella Waste Systems, a regional solid waste and resource management company, will announce its financial results for the quarter ending September 30, 2021, on October 28, 2021, post-market. A conference call is scheduled for October 29, 2021, at 10:00 a.m. ET, accessible at (877) 838-4153 for domestic callers and (720) 545-0037 for international participants. The call will also be available via webcast on the company's website. Additionally, management will present at the Berenberg US CEO Conference on November 9, 2021, and the Baird Global Industrial Conference on November 10, 2021.
Casella Waste Systems (CWST) announced that Christopher B. Heald, the Vice President and Chief Accounting Officer, will retire on March 31, 2022, after 20 years with the company. John W. Casella, Chairman and CEO, commended Heald for his integrity and contributions to the company's success. Heald will assist in the transition in an advisory role. Casella Waste Systems provides solid waste management services in the northeastern United States, offering collection, transfer, disposal, and recycling services.
Casella Waste Systems, a leader in solid waste and recycling services, announced that management will present at the Raymond James Diversified Industrials Conference on August 24, 2021. Investors can access the presentation shortly before it begins through the company’s website. Additionally, the event will be available via a live webcast link on the site. For more queries, contact CFO Ned Coletta at (802) 772-2239.
Casella Waste Systems reported a strong Q2 2021 with revenues of $215.9 million, up 14.4% year-over-year, supported by increased solid waste pricing and volumes. Net income was $11.8 million, a 2.7% decline, largely due to higher tax provisions and acquisition expenses. Adjusted EBITDA increased 18.5% to $52.1 million. The company raised its fiscal year 2021 guidance across several metrics, forecasting revenues between $850 million and $860 million and adjusted EBITDA between $195 million and $199 million.
Casella Waste Systems (NASDAQ: CWST) announced the acquisition of Willimantic Waste Paper Co., Inc. on July 26, 2021. This strategic move expands Casella's operations into eastern Connecticut, where Willimantic serves over 30,000 customers, offering diverse waste management services. The acquisition is expected to generate approximately $62 million in annualized revenues. This marks Casella's fifth acquisition in 2021, contributing to a total of $67 million in annualized revenues this year. The company aims to leverage Willimantic's platform for future growth and operational integration.
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