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Mar 31, 2025
Casella Q1 2025 Earnings Report
Reported financial results for the three-month period ended March 31, 2025
Key Takeaways
Casella Waste Systems reported a strong first quarter for 2025 with significant year-over-year increases in both revenue and Adjusted EBITDA, driven by acquisitions and solid waste pricing growth. Despite a net loss for the quarter, the company's operational performance and cash flow generation improved, and their full-year guidance remains unchanged.
Revenues increased by 22.3% to $417.1 million compared to the same period in 2024.
Adjusted EBITDA grew by 21.7% to $86.4 million for the quarter.
Solid waste pricing was up 5.6%, with collection price growth of 5.8% and disposal price growth of 5.5%.
Net cash provided by operating activities significantly increased to $50.1 million, up $42.4 million from the prior year period.
Revenue by Segment
Forward Guidance
Casella Waste Systems reaffirmed its fiscal year 2025 guidance, indicating the business is performing slightly ahead of plan despite economic uncertainty. The guidance includes the impact of acquisitions completed to date but does not include the impact of potential future acquisitions.
Positive Outlook
- Estimated revenues between $1.775 billion and $1.805 billion for fiscal year 2025.
- Estimated Adjusted EBITDA between $410 million and $425 million for fiscal year 2025.
- Estimated net cash provided by operating activities between $320 million and $335 million for fiscal year 2025.
- Estimated Adjusted Free Cash Flow between $165 million and $180 million for fiscal year 2025.
- Guidance includes annualized revenue from acquisitions completed year-to-date.
Challenges Ahead
- Estimated net income between $10 million and $25 million for fiscal year 2025.
- Guidance does not include the impact of any acquisitions that have not been completed.
- Heightened economic and policy uncertainty are factors considered in the cautious outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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