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Jun 30, 2021
Casella Q2 2021 Earnings Report
Casella's Q2 2021 financial results exceeded expectations, driven by solid operating execution, cost efficiencies, and strong free cash flow growth.
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
Revenue by Segment
Collection Revenue
CapyFin.comDisposal Revenue
CapyFin.comSolid Waste Processing Revenue
CapyFin.com 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