Casella Q2 2021 Earnings Report
Key Takeaways
Casella Waste Systems reported a strong operational quarter with revenues up 14.4% and net income down slightly by 2.7%. The company increased Adjusted EBITDA by 18.5% and Adjusted EBITDA margins by 84 basis points year-over-year. They also completed the acquisition of Willimantic, expanding their operating footprint.
Revenues increased by 14.4% compared to the same period in 2020, reaching $215.9 million.
Overall solid waste pricing increased by 4.0%, driven by collection and landfill pricing.
Net income decreased slightly by 2.7% to $11.8 million.
Adjusted EBITDA increased by 18.5% to $52.1 million.
Casella
Casella
Casella Revenue by Segment
Forward Guidance
The Company raised guidance for the second time in fiscal year 2021 by estimating results (including Willimantic)
Positive Outlook
- Revenues between $850 million and $860 million (as compared to $815 million to $830 million)
- Net income between $35 million and $39 million (as compared to $33 million to $37 million)
- Adjusted EBITDA between $195 million and $199 million (as compared to $185 million and $189 million)
- Net cash provided by operating activities between $158 million and $162 million (as compared to $150 million to $154 million)
- Adjusted Free Cash Flow between $79 million and $83 million (as compared to $76 million and $80 million)
Revenue & Expenses
Visualization of income flow from segment revenue to net income