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Mar 31, 2021
Casella Q1 2021 Earnings Report
Casella's first quarter financial results exceeded expectations due to strong operating execution, cost efficiencies and disciplined cash flow management.
Key Takeaways
Casella Waste Systems reported a revenue increase of 3.6% to $189.5 million, with net income up by 349.5% to $4.3 million. The company raised its Adjusted EBITDA, net cash provided by operating activities, and Adjusted Free Cash Flow guidance ranges, and reaffirmed its revenue and net income guidance ranges for the fiscal year ending December 31, 2021.
Revenues were $189.5 million, up 3.6% from the same period in 2020.
Net income was $4.3 million, up 349.5% from the same period in 2020.
Adjusted EBITDA was $38.8 million, up 15.9% from the same period in 2020.
Net cash provided by operating activities was $32.1 million, up 117.3% from the same period in 2020.
Casella
Casella
Casella Revenue by Segment
Revenue by Segment
Collection Revenue
CapyFin.comDisposal Revenue
CapyFin.comSolid Waste Processing Revenue
CapyFin.com Forward Guidance
The Company raised guidance for fiscal year 2021 by estimating Adjusted EBITDA between $185 million and $189 million, Net cash provided by operating activities between $150 million and $154 million, and Adjusted Free Cash Flow between $76 million and $80 million. And, the Company reaffirmed guidance for fiscal year 2021 by estimating Revenues between $815 million and $830 million; and Net income between $33 million and $37 million.
Positive Outlook
- Adjusted EBITDA between $185 million and $189 million (raised from $184 million and $188 million).
- Net cash provided by operating activities between $150 million and $154 million (raised from $149 million and $153 million).
- Adjusted Free Cash Flow between $76 million and $80 million (raised from $75 million and $79 million).
- Revenues between $815 million and $830 million.
- Net income between $33 million and $37 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income