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Jun 30, 2022
Casella Q2 2022 Earnings Report
Casella's Q2 2022 financial performance showcased strong execution against operating efficiency programs, robust pricing, and growth strategy.
Key Takeaways
Casella Waste Systems reported strong second-quarter results, driven by its operating efficiency programs, robust pricing, and growth strategy. The company's revenue surpassed $1.0 billion for the twelve months ended June 30, 2022, a first in its history. Due to the strong results, the company raised its fiscal year 2022 guidance.
Revenues were $283.7 million for the quarter, up 31.4% from the same period in 2021.
Overall solid waste pricing for the quarter was up 6.9%, driven by collection pricing, up 7.7%, and disposal pricing, up 5.7%, from the same period in 2021.
Net income was $17.8 million for the quarter, up 51.0% from the same period in 2021.
Adjusted EBITDA was $68.5 million for the quarter, up 31.4% from the same period in 2021.
Revenue by Segment
Forward Guidance
The Company raised guidance for fiscal year 2022 by estimating results in the following ranges: •Revenues between $1.035 billion and $1.050 billion (raised from a range of $1.005 billion to $1.020 billion); •Net income between $50 million and $54 million (raised from a range of $48 million to $52 million); •Adjusted EBITDA between $238 million and $242 million (raised from a range of $232 million to $236 million); •Net cash provided by operating activities between $208 million and $212 million (raised from a range of $204 million to $208 million); and •Adjusted Free Cash Flow between $106 million and $110 million (raised from a range of $104 million to $108 million).
Positive Outlook
- Revenues between $1.035 billion and $1.050 billion
- Net income between $50 million and $54 million
- Adjusted EBITDA between $238 million and $242 million
- Net cash provided by operating activities between $208 million and $212 million
- Adjusted Free Cash Flow between $106 million and $110 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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