Casella Waste Systems, Inc. provides regional solid waste, recycling, and resource management services for residential, commercial, municipal, and industrial customers. Company updates commonly address operating and financial results, collection and recycling activity, acquisitions, investor conference presentations, and changes in senior operating or revenue leadership.
Casella’s news also reflects expansion of route density and transfer or processing assets, including the completed acquisition of Star Waste Systems in eastern Massachusetts and southern New Hampshire. Its service categories include collection, recycling, organics, energy, landfills, special waste, and professional services.
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.
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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.
Casella Waste Systems (NASDAQ: CWST) reported Q1 2020 results with revenues of $182.9 million, an 11.8% increase year-over-year. Net income for the quarter was $1.0 million, up $2.7 million from Q1 2019. Adjusted EBITDA rose to $33.5 million, a 25.9% increase. Cash flow from operations jumped by 209.6% to $14.8 million. However, the company withdrew its guidance for FY 2020 due to COVID-19 uncertainty. The COVID-19 pandemic impacted solid waste volumes negatively, with a decline of 2.7% in the volume collected. The company maintained a strong liquidity position with $139.8 million available.