Casella Waste Systems ( (CWST) ) has released its Q3 earnings. Here is a breakdown of the information Casella Waste Systems presented to its investors.
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Casella Waste Systems, Inc., based in Rutland, Vermont, specializes in solid waste, recycling, and resource management services across the eastern United States.
In its third-quarter 2024 earnings report, Casella Waste Systems revealed a substantial increase in quarterly revenues, reaching $411.6 million, marking a 16.7% growth from the previous year. This growth was primarily driven by strategic acquisitions and price improvements in waste collection and recycling services.
While Casella reported a notable rise in Adjusted EBITDA to $102.9 million, their net income saw a significant decline to $5.8 million, impacted by insurance expense accruals and lower landfill volumes. The company also completed the acquisition of Royal Carting and Welsh Sanitation, enhancing its market presence in New York’s Hudson Valley region. Additionally, strategic investments in truck automation and recycling facilities have improved operational efficiencies and cost management.
Looking ahead, Casella remains optimistic about capturing growth opportunities through its acquisition pipeline and enhanced financial flexibility, backed by recent equity offerings and credit facility adjustments. The company’s management expects revenues between $1.520 billion and $1.550 billion for the fiscal year 2024, with a focus on expanding market density and entering new markets.
