Casella Waste Stock Price, News & Analysis

Casella Waste Systems announced on April 21, 2023, an agreement to acquire waste collection, transfer, and recycling operations from GFL Environmental for $525 million. This acquisition includes nine hauling operations, one transfer station, and one material recovery facility across Pennsylvania, Delaware, and Maryland, with projected annual revenues of approximately $185 million. The deal is expected to close in Q3 2023, pending regulatory approvals.

CEO John W. Casella emphasized that this move enhances the company's growth strategy by expanding its footprint into the Mid-Atlantic region, building on prior successful acquisitions. The acquired operations are expected to generate approximately $43 million in EBITDA in the first year, with anticipated synergies of $8 million by year three and tax benefits exceeding $130 million.

Casella Waste Systems, trading as CWST, will announce its financial results for the quarter ending March 31, 2023, on April 27, 2023, post-market close. A conference call for discussion of these results is scheduled for April 28, 2023, at 10:00 a.m. Eastern Time. Interested participants can register here. The call will also be available via webcast on the company’s website.

Additionally, management will participate in investor conferences on May 1, May 8, and May 11, 2023.

On February 21, 2023, Casella Waste Systems announced participation in several upcoming investor conferences. Key events include the BofA Securities 2023 Global Agriculture and Materials Conference on March 2, the Raymond James 44th Annual Institutional Investors Conference on March 7, and the Jefferies 2023 Business Services Summit on March 23. Presentation materials will be accessible on the company’s investor website before each event. Live webcasts will also be available for attendees.

For more details, interested parties can contact Jason Mead, Senior Vice President of Finance & Treasurer, at (802) 772-2293 or visit the company’s website.

Casella Waste Systems reported strong fiscal year 2022 results, exceeding guidance with revenues of $1.085 billion, up 22% year-over-year and net income of $53.1 million, a 29.1% increase. In Q4 2022, revenues reached $272.1 million, a 12.5% rise, while net income slightly decreased to $8.4 million. Adjusted EBITDA for the year was $245.2 million, a 20.5% increase. For fiscal year 2023, the company anticipates revenues between $1.150 billion and $1.180 billion, with net income projected at $56 million to $62 million.

Casella Waste Systems (Nasdaq: CWST) will announce its financial results for the quarter ending December 31, 2022, on February 16, 2023, after market close. A conference call to discuss these results is scheduled for February 17, 2023, at 10:00 a.m. ET. Interested participants must register to receive dial-in information.

The call will also be available via webcast on the company’s website, and a replay will be provided for those unable to attend live. For further inquiries, contact Jason Mead, SVP of Finance & Treasurer, at (802) 772-2293 or visit the website for more details.

Casella Waste Systems has launched a pilot program for the first electric refuse vehicle in Vermont, the Mack LR Electric, at a ceremony in Rutland. This initiative is part of Vermont's efforts to electrify its transportation sector, supported by funding from the Volkswagen Environmental Mitigation Trust. The electric truck, which will operate on residential routes, is expected to save over 7,500 gallons of diesel fuel annually and cut greenhouse gas emissions by more than 78 metric tons. The company aims to explore the viability of this technology for broader application in the future.

Clean Harbors has appointed Eric W. Gerstenberg and Michael L. Battles as co-CEOs, effective March 31, 2023, succeeding founder Alan S. McKim, who becomes Executive Chairman and CTO. This leadership transition comes after a comprehensive selection process, aiming to maintain stability for stakeholders. Gerstenberg, with over 30 years at Clean Harbors, and Battles, who joined in 2013, bring extensive experience to their new roles. The company emphasizes its strategic growth and commitment to environmental services, building on a legacy that has transformed the industry since 1980.