Welcome to our dedicated page for Casella Waste news (Ticker: CWST), a resource for investors and traders seeking the latest updates and insights on Casella Waste stock.
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 (NASDAQ: CWST) has announced a proposed public offering of $400 million of its Class A common stock. The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of shares. Proceeds will finance the acquisition of Royal Carting and Welsh Sanitation, repay borrowings under its revolving credit facility, and fund general corporate purposes. Raymond James, J.P. Morgan, and Stifel will act as joint book-running managers, with Goldman Sachs & Co. and Wolfe | Nomura Alliance as passive book-runners. The offering is made through an automatically effective shelf registration statement filed with the SEC.
Casella Waste Systems, Inc. (Nasdaq: CWST) has announced a definitive agreement to acquire Royal Carting and Welsh Sanitation (collectively, "Royal") and related real estate assets. The acquisition, expected to close in Q4 2024, includes two solid waste collection operations and two transfer stations in New York's Hudson Valley and western Connecticut. This expansion will extend Casella's service territory into new adjacent markets.
The acquisition is projected to generate over $90 million in annualized revenues, with a focus on commercial collection services and waste volumes that can be internalized into Casella's landfills. Royal, founded in 1955, has built a strong reputation for customer service and community support. The deal aims to maintain Royal's legacy while introducing additional capabilities to meet customer needs.
Casella Waste Systems (Nasdaq: CWST) has announced its 2024 Sustainability Leadership Awards, recognizing three organizations for their outstanding contributions to sustainability and waste reduction. The winners are:
1. Novolex: A packaging manufacturer that recycled nearly 60,000 tons of post-industrial commodities with Casella in 2023. They sourced 47% of raw materials from renewable or recycled sources and reported 84% of applicable revenues from circular economy products.
2. City of Biddeford, ME: Reduced recycling contamination by up to 26% through education initiatives and regular audits.
3. Phillips Academy in Andover, MA: Aims to achieve 90% waste diversion by 2030 and has expanded programs for composting, e-waste, and reusable item redirection.
These awards highlight Casella's commitment to partnering with organizations to advance the circular economy and reduce waste.
Clean Harbors, Inc. (NYSE: CLH) has expanded its Board of Directors to 13 members by appointing Co-Chief Executive Officers Michael Battles and Eric Gerstenberg as Class III directors, effective immediately. This move comes after their successful leadership as co-CEOs for the past year and a half, during which the company has made significant progress in executing its Vision 2027 growth strategy.
Eric Gerstenberg, 56, has been with Clean Harbors since 1989, most recently serving as Chief Operating Officer since 2015. Michael Battles, 56, joined the company in 2013 as Chief Accounting Officer and was promoted to CFO in 2016 before becoming Co-CEO in 2023. Both executives bring extensive experience in operations, finance, and strategic leadership to the board.
Casella Waste Systems, Inc. (NASDAQ: CWST) reported strong financial results for Q2 2024. Revenues increased by 30.2% to $377.2 million, driven by acquisitions, solid pricing, and higher recycling commodity prices. Net income rose 27.6% to $7.0 million, while Adjusted EBITDA grew 26.9% to $91.6 million. The company completed five acquisitions year-to-date, including LMR Disposal and Whitetail Disposal in the Mid-Atlantic region, adding over $100 million in annualized revenues.
Casella updated its fiscal year 2024 guidance, raising revenue projections to $1.520-$1.550 billion and Adjusted EBITDA to $360-$370 million. However, net income guidance was lowered to $15-$25 million due to higher acquisition-related expenditures. The company maintains a robust M&A pipeline and sees further growth opportunities in the Mid-Atlantic market.
Casella Waste Systems, Inc. (Nasdaq: CWST) has expanded its presence in the Mid-Atlantic region through two strategic acquisitions. The company acquired LMR Disposal on July 1, 2024, and Whitetail Disposal, Inc. on August 1, 2024. These acquisitions include collection operations across eastern Pennsylvania and western New Jersey, complementing Casella's existing Mid-Atlantic operations. The company expects to generate over $100 million in total annualized revenues from these acquisitions.
John W. Casella, Chairman and CEO, emphasized that these acquisitions align with the company's disciplined growth strategy and further expand their operations in the Mid-Atlantic region. The newly acquired businesses fit well with Casella's existing regional platform and present additional growth opportunities. The company is committed to ensuring a smooth transition for new customers and operations while introducing its differentiated resource solutions service offerings and capabilities.
Casella Waste Systems, Inc. (Nasdaq: CWST) has been named to Time's 'America's Best Mid-Size Companies 2024' list, the only waste management company and Vermont-based firm to be recognized. The list evaluates companies with $100 million to $10 billion in revenue based on employee satisfaction, revenue growth, and sustainability transparency. Casella's CEO, John W. Casella, emphasized the company's investments in employee engagement, safety, training, and retention. Notable initiatives include:
1. A CDL Driving School with over $1.5 million invested, training 300+ new drivers.
2. Restructured annual incentive plans to improve safety and reduce employee turnover.
3. A focus on being an employer of choice in a competitive job market.
The recognition validates Casella's approach of prioritizing employee satisfaction to drive customer service and financial success.
Casella Waste Systems (Nasdaq: CWST) will release its Q2 2024 financial results on August 1, 2024, post-market close. The company will host a conference call the next day, August 2, 2024, at 10:00 a.m. ET to discuss the results. Interested participants can register for call details on Casella's website, where the call will also be webcast. A replay will be available later.
Additionally, Casella's management will present at the Raymond James Industrial and Energy Showcase on August 8, 2024.
For more information, contact Charlie Wohlhuter, Director of Investor Relations, at (802) 772-2230 or visit the company’s website.
Casella Waste Systems (Nasdaq: CWST) has been named to USA Today’s “America’s Climate Leaders 2024” list for the second consecutive year, recognizing significant reductions in operational emissions intensity from 2020 to 2022. Casella is one of only three companies in its industry to make the list and one of two to achieve this recognition in back-to-back years. The company, known for its sustainable waste and recycling innovations, established Vermont's first recycling facility in 1977 and has been a charter member of the EPA’s Climate Leaders program since 2005. CEO John W. Casella emphasized the company’s commitment to sustainability, noting that Casella’s operations prevent more greenhouse gas emissions than they produce.
Casella Waste Systems (Nasdaq: CWST) announced that four of its drivers were honored by the National Waste & Recycling Association (NWRA) in its annual Drivers and Operators of the Year program.
Casella drivers Curtis Rhodes, Shawn Dutton, and John Michaud were named regional top drivers in the Commercial, Residential, and Industrial categories, respectively. Cesarin Guerrero received an honorable mention in the Industrial category. These awards recognize drivers' commitment to safe operations and outstanding performance.
The drivers were chosen from hundreds of applications, and their achievements reflect Casella's dedication to safety and excellence in service.