Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste management services consisting of collection, transfer, disposal, and recycling services in the northeastern United States.

Company profile
Ticker
CWST
Exchange
Website
CEO
John Casella
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
171 Church Street, LLC • AGreen Energy, LLC • All Cycle Waste, Inc. • BGreen Energy, LLC • Bristol Waste Management, Inc. • C.V. Landfill, Inc. • Casella Major Account Services LLC • Casella of Holyoke, Inc. • Casella Recycling, LLC • Casella Transportation, Inc. ...
IRS number
30338873
CWST stock data
News
Raymond James Maintains Strong Buy on Casella Waste Systems, Raises Price Target to $93
1 Aug 22
Casella Waste Systems Q2 EPS $0.36 Beats $0.28 Estimate, Sales $283.67M Beat $251.62M Estimate
28 Jul 22
Casella Waste Systems: Q2 Earnings Insights
28 Jul 22
Earnings Scheduled For July 28, 2022
28 Jul 22
Class Of 1997: 25 Years Decades After Their IPOs, Where Are These Companies Now?
19 May 22
Press releases
Casella Earns 2022 World Finance Sustainability Award
9 Aug 22
Casella Waste Systems, Inc. Announces Second Quarter 2022 Results and Raises Fiscal Year 2022 Guidance
28 Jul 22
Casella Waste Systems, Inc. to Host Conference Call on Its Second Quarter 2022 Results; and to Present at an Upcoming Investor Event
7 Jul 22
Casella Waste Systems, Inc. Announces Pricing of $35.0 Million of Vermont Economic Development Authority Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2022
19 May 22
Analyst ratings and price targets
Investment data
Securities sold
Number of investors
Calendar
29 Jul 22
16 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 40.32M | 40.32M | 40.32M | 40.32M | 40.32M | 40.32M |
Cash burn (monthly) | (no burn) | 10.57M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 16.6M | n/a | n/a | n/a | n/a |
Cash remaining | n/a | 23.71M | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | 2.2 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
12 Aug 22 | Burke Michael K | Class A Common Stock | Gift | Dispose G | No | No | 0 | 590 | 0 | 18,497 |
12 Aug 22 | Burke Michael K | Class A Common Stock | Sell | Dispose S | No | No | 85.17 | 1,260 | 107.31K | 19,087 |
12 Aug 22 | Burke Michael K | Class A Common Stock | Sell | Dispose S | No | No | 84.6 | 4,090 | 346.01K | 20,347 |
11 Aug 22 | Paul Ligon | Class A Common Stock | Sell | Dispose S | No | No | 85.3 | 1,250 | 106.63K | 23,540 |
4 Aug 22 | Edmond Coletta | Class A Common Stock | Sell | Dispose S | No | No | 83.79 | 10,000 | 837.9K | 148,361 |
1 Aug 22 | Edmond Coletta | Employee Stock Option Class A Common Stock | Grant | Acquire A | No | No | 82.47 | 75,000 | 6.19M | 75,000 |
Institutional ownership, Q1 2022
96.9% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 270 |
Opened positions | 33 |
Closed positions | 35 |
Increased positions | 75 |
Reduced positions | 116 |
13F shares | Current |
---|---|
Total value | 4.55B |
Total shares | 49.14M |
Total puts | 288.7K |
Total calls | 54.7K |
Total put/call ratio | 5.3 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 4.62M | $404.94M |
BLK Blackrock | 3.2M | $280.72M |
Conestoga Capital Advisors | 3.06M | $267.94M |
Earnest Partners | 2.98M | $261.26M |
Fred Alger Management | 2.67M | $233.68M |
JPM JPMorgan Chase & Co. | 2.53M | $221.64M |
William Blair Investment Management | 2.07M | $181.79M |
Allspring Global Investments | 2M | $174.93M |
IVZ Invesco | 1.55M | $136.27M |
SAMG Silvercrest Asset Management | 1.54M | $135.31M |
Financial report summary
?Risks
- We are subject to general macroeconomic risks in the waste industry, including, but not limited to, the effects of the COVID-19 pandemic, fuel prices, labor supply, and inflation, any of which risks, if realized, may adversely affect our financial performance and results of operations.
- The COVID-19 pandemic has adversely affected, and may continue to adversely affect, our business, outlook, liquidity and results of operations, and we have experienced and may continue to experience reductions in demand for certain of our services.
- We face substantial competition in the solid waste services industry, and if we cannot successfully compete in the marketplace, our business, financial condition and results of operations may be materially adversely affected.
- Our growth strategy focuses on complementing or expanding our business through the acquisition of companies or assets, or the development of new operations. However, we may be unable to complete these transactions and, if executed, these transactions may not improve our business or may pose significant risks and could have a negative effect on our operations.
- The waste industry is subject to extensive government regulations, including environmental laws and regulations, and we incur substantial costs to comply with such laws and regulations. Failure to comply with environmental or other laws and regulations, as well as enforcement actions and litigation arising from an actual or perceived breach of such laws and regulations, could subject us to fines, penalties, and judgments, and impose limits on our ability to operate
- We may be unable to obtain or maintain required permits or to expand existing permitted capacity of our landfills, which could decrease our revenue and increase our costs.
- Fluctuations in commodity prices and diminished markets for recyclable materials that we sell to customers may adversely affect our results of operations and cash flows.
- We are upgrading our technology infrastructure and there can be no assurance that our efforts will be completed on the projected timetable or that our investment will result in the expected gains.
- Cybersecurity incidents could negatively impact our business and our relationships with customers, adversely affecting our financial results and exposing us to litigation risk.
- Our business is geographically concentrated and is therefore subject to regional economic downturns.
- Our results of operations and financial condition may be negatively affected if we inadequately accrue for final capping, closure and post-closure costs or by the timing of these costs for our waste disposal facilities.
- Our insurance coverage and self-insurance reserves may be inadequate to cover all significant risk exposures.
- We could be precluded from entering into contracts or obtaining or maintaining permits or certain contracts if we are unable to obtain third-party financial assurance to secure our contractual obligations.
- We may be required to write-off or impair capitalized costs or intangible assets in the future or we may incur restructuring costs or other charges, each of which could harm our earnings.
- Our revenues and our operating income experience seasonal fluctuations, which could adversely affect our operational results in certain quarters and cause our results to fluctuate.
- Adverse weather conditions, including those brought about by climate change, may limit our operations and increase the costs of collection and disposal.
- Efforts by labor unions to organize our employees could divert management attention and increase our operating expenses.
- Our enterprise risk management process may not be effective in mitigating the risks to which we are subject, or in reducing the potential for losses in connection with such risks.
- We may be adversely affected by market responses to our environmental, social and governance ("ESG") practices and may not be effective in mitigating the risks associated with ESG expectations and emerging ESG regulations, or in reducing the potential for losses in connection with such risks.
- We have substantial debt and have the ability to incur additional debt. The principal and interest payment obligations of such debt may restrict our future operations.
- Holders of our Class A common stock are entitled to one vote per share, and holders of our Class B common stock are entitled to ten votes per share. The lower voting power of the Class A common stock may negatively affect the attractiveness of our Class A common stock to investors and, as a result, its market value.
Management Discussion
- We manage our solid waste operations, which include a full range of solid waste services, on a geographic basis through two regional operating segments, which we designate as the Eastern and Western regions. Revenues in our Eastern and Western regions consist primarily of fees charged to customers for solid waste collection and disposal services, including landfill, transfer and transportation, landfill gas-to-energy, and processing services. We derive a substantial portion of our collection revenues from commercial, industrial and municipal services that are generally performed under service agreements or pursuant to contracts with municipalities. The majority of our residential collection services are performed on a subscription basis with individual households. Landfill and transfer customers are charged a tipping fee on a per ton basis for disposing of their solid waste at our disposal facilities and transfer stations. We also generate and sell electricity at certain of our landfill facilities. We manage our resource-renewal operations through the Resource Solutions operating segment, which includes processing and non-processing services. Revenues from processing services are derived from municipalities and customers in the form of processing fees, tipping fees, and commodity sales, primarily comprised of newspaper, corrugated containers, plastics, ferrous and aluminum, and organic materials such as our earthlife® soils products including fertilizers, composts and mulches. Revenues from non-processing services are derived from brokerage services and overall resource management services providing a wide range of environmental services and resource management solutions to large and complex organizations, as well as traditional collection, disposal and recycling services provided to large account multi-site customers.
Content analysis
?Positive | ||
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Legalese | ||
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Readability |
H.S. freshman Avg
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New words:
addressing, administered, alter, ameliorate, Bank, breach, bring, churn, civil, compounded, conduct, converted, corrective, costly, criminal, decommissioned, deselection, dictate, difficult, diligence, Edwin, emission, enforcement, enforcing, factor, foreseeable, greenhouse, grown, Guaranty, handling, harm, interpretation, Johnson, land, Leave, media, migrating, noise, noncurrent, obtaining, odor, overturn, permanently, policy, prevent, prove, quorum, rebuilt, Rehearing, relevant, reputation, retrofitting, revocation, Sean, size, slightly, specific, statute, storage, surface, Surreply, suspension, trustee, unlawful, unsecured, written
Removed:
annually, declined, demand, health, marketplace, pertaining, spread, supply, surcharge
Financial reports
Current reports
8-K/A
Departure of Directors or Certain Officers
29 Jul 22
8-K
Casella Waste Systems, Inc. Announces Second Quarter 2022 Results and Raises Fiscal Year 2022 Guidance
28 Jul 22
8-K/A
Departure of Directors or Certain Officers
22 Jun 22
8-K
Departure of Directors or Certain Officers
22 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
3 Jun 22
8-K
Entry into a Material Definitive Agreement
1 Jun 22
8-K
Other Events
19 May 22
8-K
Casella Waste Systems, Inc. Announces Offering of Vermont Economic Development Authority Solid Waste Disposal Revenue Bonds
3 May 22
8-K
Casella Waste Systems, Inc. Announces First Quarter 2022 Results and Updates Fiscal Year 2022 Guidance
28 Apr 22
8-K
Departure of Directors or Certain Officers
21 Apr 22
Registration and prospectus
S-3ASR
Automatic shelf registration
29 Oct 21
424B5
Prospectus supplement for primary offering
22 Oct 20
424B5
Prospectus supplement for primary offering
20 Oct 20
424B5
Prospectus supplement for primary offering
24 Jan 19
424B5
Prospectus supplement for primary offering
22 Jan 19
S-3ASR
Automatic shelf registration
9 May 18
S-8
Registration of securities for employees
16 Nov 16
424B5
Prospectus supplement for primary offering
9 Feb 15
FWP
Free writing prospectus
9 Feb 15
424B5
Prospectus supplement for primary offering
5 Feb 15
Other
UPLOAD
Letter from SEC
27 Jul 20
CORRESP
Correspondence with SEC
20 May 20
CORRESP
Correspondence with SEC
27 Apr 20
UPLOAD
Letter from SEC
23 Apr 20
UPLOAD
Letter from SEC
14 Nov 16
CORRESP
Correspondence with SEC
8 Nov 16
UPLOAD
Letter from SEC
30 Oct 16
UPLOAD
Letter from SEC
27 Sep 15
UPLOAD
Letter from SEC
17 Sep 15
CORRESP
Correspondence with SEC
15 Sep 15
Ownership
4
CASELLA WASTE SYSTEMS / MICHAEL K BURKE ownership change
15 Aug 22
4
CASELLA WASTE SYSTEMS / Paul Ligon ownership change
11 Aug 22
4
CASELLA WASTE SYSTEMS / Edmond Coletta ownership change
5 Aug 22
4
CASELLA WASTE SYSTEMS / Edmond Coletta ownership change
2 Aug 22
3
CASELLA WASTE SYSTEMS / Sean Steves ownership change
1 Jul 22
4
CASELLA WASTE SYSTEMS / Edwin D Johnson ownership change
6 Jun 22
4
CASELLA WASTE SYSTEMS / WILLIAM P HULLIGAN ownership change
3 Jun 22
4
CASELLA WASTE SYSTEMS / JOSEPH DOODY ownership change
3 Jun 22
4
CASELLA WASTE SYSTEMS / Rose M. Kirk ownership change
3 Jun 22
4
CASELLA WASTE SYSTEMS / MICHAEL K BURKE ownership change
3 Jun 22
Transcripts
2022 Q2
Earnings call transcript
29 Jul 22
2022 Q1
Earnings call transcript
29 Apr 22
2021 Q4
Earnings call transcript
18 Feb 22
2021 Q3
Earnings call transcript
29 Oct 21
2021 Q2
Earnings call transcript
31 Jul 21
2021 Q1
Earnings call transcript
30 Apr 21
2020 Q4
Earnings call transcript
19 Feb 21
2020 Q3
Earnings call transcript
30 Oct 20
2020 Q2
Earnings call transcript
8 Aug 20
2020 Q1
Earnings call transcript
9 May 20
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