Revenue Growth and Performance - Revenues for Q2 2024 were $377.2 million, up 30.2% YoY, driven by acquisitions, strong pricing, and higher recycling commodity prices[1][2] - Solid waste pricing increased by 5.7% YoY, with collection pricing up 6.2% and disposal pricing up 4.8%[1] - Total revenues for the three months ended June 30, 2024, were $377.163 million, with solid waste operations contributing 77.9% ($293.945 million) and resource solutions operations contributing 22.1% ($83.218 million)[28] - Total revenues for the six months ended June 30, 2024, were $718.170 million, with solid waste operations contributing 78.0% ($559.881 million) and resource solutions operations contributing 22.0% ($158.289 million)[29] - Collection services accounted for 59.4% ($223.959 million) of total revenues for the three months ended June 30, 2024, compared to 51.7% ($149.848 million) in the same period in 2023[28] - Disposal services accounted for 17.3% ($65.123 million) of total revenues for the three months ended June 30, 2024, compared to 22.0% ($63.629 million) in the same period in 2023[28] - Landfill gas-to-energy revenues were $1.983 million (0.5% of total revenues) for the three months ended June 30, 2024, compared to $1.321 million (0.5% of total revenues) in the same period in 2023[28] Net Income and Profitability - Net income for Q2 2024 was $7.0 million, up 27.6% YoY[1] - Net income for the six months ended June 30, 2024, was $2.9 million, down from $9.0 million in the same period in 2023[14] - Net income for the three months ended June 30, 2024, was $7.006 million, compared to $5.490 million in the same period in 2023[19] - Adjusted Net Income for the three months ended June 30, 2024, was $12.517 million, compared to $18.831 million in the same period in 2023[19] - Diluted earnings per common share for the three months ended June 30, 2024, was $0.12, compared to $0.10 in the same period in 2023[19] - Adjusted Diluted Earnings Per Common Share for the three months ended June 30, 2024, was $0.22, compared to $0.36 in the same period in 2023[19] Adjusted EBITDA and Operating Income - Adjusted EBITDA for Q2 2024 was $91.6 million, up 26.9% YoY, driven by acquisition rollover and 6.0% organic growth[2] - Adjusted EBITDA for the six months ended June 30, 2024, was $162.6 million, compared to $122.8 million in the same period in 2023[17] - Adjusted EBITDA as a percentage of revenues was 22.6% for the six months ended June 30, 2024, compared to 22.2% in the same period in 2023[17] - Adjusted Operating Income for the six months ended June 30, 2024, was $42.7 million, compared to $45.2 million in the same period in 2023[17] - Adjusted Operating Income as a percentage of revenues was 5.9% for the six months ended June 30, 2024, down from 8.2% in the same period in 2023[17] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the year-to-date period was $79.8 million, down from $83.2 million YoY, mainly due to higher cash interest payments and negative changes in working capital[2] - Adjusted Free Cash Flow for the year-to-date period was $39.5 million, down from $47.9 million YoY, driven by higher capital expenditures[2] - Net cash provided by operating activities for the six months ended June 30, 2024, was $79.8 million, down from $83.2 million in the same period in 2023[14] - Net cash provided by operating activities for the three months ended June 30, 2024, was $72.102 million, compared to $67.117 million in the same period in 2023[21] - Adjusted Free Cash Flow for the three months ended June 30, 2024, was $41.915 million, compared to $45.626 million in the same period in 2023[21] - Additions to property and equipment were $74.9 million for the six months ended June 30, 2024, up from $50.4 million in the same period in 2023[14] - Total capital expenditures for the six months ended June 30, 2024, were $74.900 million, compared to $50.415 million in the same period in 2023[33] - Growth capital expenditures for the three months ended June 30, 2024, were $9.959 million, compared to $6.903 million in the same period in 2023[33] - Replacement capital expenditures for the three months ended June 30, 2024, were $34.690 million, compared to $25.633 million in the same period in 2023[33] Acquisitions and Investments - The company acquired five businesses with over $100 million in aggregate annualized revenues, including LMR Disposal, Inc. and Whitetail Disposal, Inc. in the Mid-Atlantic region[2] - Acquisitions, net of cash acquired, amounted to $1.3 million for the six months ended June 30, 2024, compared to $547.6 million in the same period in 2023[14] - Acquisitions contributed $66.772 million (30.7% of operations) to solid waste operations for the three months ended June 30, 2024[31] - Proceeds from debt borrowings were $1.8 million for the six months ended June 30, 2024, compared to $430.0 million in the same period in 2023[14] Financial Guidance - Fiscal year 2024 revenue guidance raised to $1.520 billion - $1.550 billion, up from $1.480 billion - $1.510 billion[4] - Fiscal year 2024 Adjusted EBITDA guidance raised to $360 million - $370 million, up from $350 million - $360 million[4] - Fiscal year 2024 net income guidance lowered to $15 million - $25 million, down from $35 million - $45 million, due to higher acquisition-related expenditures[4] - Estimated Adjusted EBITDA for fiscal year 2024 is projected to be between $360 million and $370 million[25] - Estimated Net income for fiscal year 2024 is projected to be between $15 million and $25 million[25] - Estimated Adjusted Free Cash Flow for fiscal year 2024 is projected to be between $140 million and $150 million[26] - Capital expenditures for fiscal year 2024 are estimated to be $187 million[26] Resource Solutions Operations - Resource solutions operations saw a price increase contributing $3.129 million (4.3% of operations) and a volume increase contributing $4.793 million (6.7% of operations) for the three months ended June 30, 2024[31] Cash and Cash Equivalents - Cash and cash equivalents decreased to $208.5 million as of June 30, 2024, compared to $220.9 million as of December 31, 2023[12]

RUTLAND, Vt., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, today reported its financial results for the three and six-month periods ended June 30, 2024. Key Highlights: Revenues were $377.2 million for the quarter, up $87.5 million, or up 30.2%, from the same period in 2023. Solid waste pricing for the quarter was up 5.7% from the same period in 2023, driven by 6.2% collection price growth and 4.8% d ...

RUTLAND, Vt., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, today reported its financial results for the three and six-month periods ended June 30, 2024. Key Highlights: Revenues were $377.2 million for the quarter, up $87.5 million, or up 30.2%, from the same period in 2023. Solid waste pricing for the quarter was up 5.7% from the same period in 2023, driven by 6.2% collection price growth and 4.8% d ...

RUTLAND, Vt., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company (the "Company"), announced that it has acquired two solid waste businesses with operations in the Mid-Atlantic, LMR Disposal LLC ("LMR"), which closed on July 1, 2024, and Whitetail Disposal, Inc. ("Whitetail"), which closed on August 1, 2024. The acquisitions include collection operations across eastern Pennsylvania and western New Jersey, c ...

America's Best Mid-Size Companies 2024 were identified based on three dimensions using more than 15 different criteria. The project scope considered all companies that operate in the United States and generated at least $100 million in revenue but less than $10 billion in 2022 or 2023. Employee Satisfaction: Data of standardized work-related KPIs based on survey data from a large sample of employees from U.S. companies. Revenue Growth: Revenue growth data of all relevant companies from the internal Growth D ...

Charlie Wohlhuter Director of Investor Relations (802) 772-2230 America's Best Mid-Size Companies 2024 were identified based on three dimensions using more than 15 different criteria. The project scope considered all companies that operate in the United States and generated at least $100 million in revenue but less than $10 billion in 2022 or 2023. "To be viewed as one of the best companies of our size in the U.S. is truly rewarding," said John W. Casella, Chairman and CEO of Casella. "And, most especially, ...

The company will host a conference call to discuss these results on Friday, August 2, 2024 at 10:00 a.m. Eastern Time. Individuals interested in participating in the call should register by clicking here to obtain dial in and passcode details. Raymond James Industrial and Energy Showcase The call will also be webcast; to listen, participants should visit the company's website at http://ir.casella.com and follow the appropriate link to the webcast. A replay of the call will be available on the company's webs ...

The company will host a conference call to discuss these results on Friday, August 2, 2024 at 10:00 a.m. Eastern Time. Individuals interested in participating in the call should register by clicking here to obtain dial in and passcode details. Raymond James Industrial and Energy Showcase The company also announced today that the company's management will be presenting at the following investor conference: For further information, contact Charlie Wohlhuter, Director of Investor Relations, at (802) 772-2230 o ...

RUTLAND, Vt., June 05, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (NASDAQ:CWST), a regional solid waste, recycling and resource management services company, has been named to USA Today's "America's Climate Leaders 2024" list for the second consecutive year. The list recognizes the top 450 companies across the United States that have achieved the greatest reduction in their operational emissions intensity between 2020 and 2022 — a measure of the amount of Scope 1 and 2 greenhouse gases a company pr ...

RUTLAND, Vt., June 05, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company, has been named to USA Today's "America's Climate Leaders 2024" list for the second consecutive year. The list recognizes the top 450 companies across the United States that have achieved the greatest reduction in their operational emissions intensity between 2020 and 2022 — a measure of the amount of Scope 1 and 2 greenhouse gases a company p ...