Casella Waste Systems Announces Fourth Quarter, Full-Year Earnings

Rutland, Vt.-based Casella Waste Systems, Inc. reported its fourth quarter and full-year results for 2017. Similar to other leading solid waste companies, Casella posted a healthy year-over-year gain in revenues in 2017, with $151.2 million in revenues for the fourth quarter and $599.3 million in revenues for the year.

"We had a strong operational quarter and a great year, as we continued to execute well against our key strategies," said John W. Casella, chairman and CEO of Casella, in a conference call with investors. "We remain focused on creating shareholder value through increasing landfill returns, improving collection profitability, creating incremental value through resource solutions, driving general and administrative efficiencies, and strong capital discipline."

In January 2018, Casella completed an acquisition of Complete Disposal Co. Inc., expanding the company’s presence in the Northeast. In a conference call with investors, the company said that its acquisition for 2018 remained robust.

The company also provided guidance for the current fiscal year ending December 31, 2018. Revenues are expected to fall between $618 million and $628 million and adjusted EBITDA is expected to be between $135 million and $139 million.

"The progress we have made on our strategies can be seen in the positive financial results in the fourth quarter," said Casella in a conference call with investors. "Our disciplined solid waste pricing programs continued to add value, with landfill pricing up 3.6 percent and collection pricing up 3.7 percent.  This strong pricing was coupled with 2.0 percent solid waste volume growth, mainly driven by 4.8 percent growth in landfill volumes as we continued to source new volumes in the tightening northeastern disposal markets, and 1.2 percent solid waste revenue growth from acquisitions."

Here are some additional highlights from the firm’s results: