Casella Q2 2022 Earnings Report
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.
Casella
Casella
Casella 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