Allan Gerlat, News Editor

March 5, 2013

1 Min Read
Casella Waste Posts Smaller Loss in Third Quarter

Business challenges companywide resulted in a third-quarter loss for Casella Waste Systems Inc., although it was smaller than the year-ago period.

For the Rutland, Vt.-based Casella Waste’s fiscal third quarter ended Jan. 31, the company reported a net loss of $11.5 million, or 29 cents per common share, compared with a net loss of $24.6 million, or 92 cents per common share, in the year-ago period.

Revenue for the quarter rose 0.4 percent to $115 million compared with $114.6 million in the 2012 quarter, according to a news release.

For the latest fiscal nine-month period, the net loss totaled $40.9 million, or $1.26 per common share, compared with $28.5 million, or $1.07 per share, in the year-ago period. Revenue dropped 4.1 percent to $356.5 million compared with $371.6 million a year earlier.

“We continued to face operating challenges throughout our business in the third quarter,” said John Casella, chairman and CEO of Casella Waste. “Landfill volumes at our western New York landfills, volumes in our collection line-of-business, and the ramp-up of several projects all underperformed our expectations in the quarter and, as such, we have lowered our guidance for the current year.”

He said three important developments in the quarter should position the company well for the future – the sale of its Maine Energy facility, the acquisition of Blow Brothers and the approval of the annual limit at its Southbridge landfill.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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