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Casella Waste Systems (CWST)

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
Industry (SIC)
SEC CIK
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

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

29 Jul 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
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
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

Beta Read what these cash burn values mean

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
96.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 270 272 -0.7%
Opened positions 33 55 -40.0%
Closed positions 35 13 +169.2%
Increased positions 75 78 -3.8%
Reduced positions 116 94 +23.4%
13F shares Current Prev Q Change
Total value 4.55B 4.43B +2.8%
Total shares 49.14M 48.65M +1.0%
Total puts 288.7K 4.8K +5914.6%
Total calls 54.7K 44.5K +22.9%
Total put/call ratio 5.3 0.1 +4793.0%
Largest owners Shares Value Change
Vanguard 4.62M $404.94M -0.2%
BLK Blackrock 3.2M $280.72M -0.9%
Conestoga Capital Advisors 3.06M $267.94M -13.6%
Earnest Partners 2.98M $261.26M -2.7%
Fred Alger Management 2.67M $233.68M +10.7%
JPM JPMorgan Chase & Co. 2.53M $221.64M +31.0%
William Blair Investment Management 2.07M $181.79M +232.6%
Allspring Global Investments 2M $174.93M -17.8%
IVZ Invesco 1.55M $136.27M +4.2%
SAMG Silvercrest Asset Management 1.54M $135.31M +4.5%
Largest transactions Shares Bought/sold Change
William Blair Investment Management 2.07M +1.45M +232.6%
MCQEF Macquarie 1.31M +686.99K +109.7%
JPM JPMorgan Chase & Co. 2.53M +597.77K +31.0%
AMP Ameriprise Financial 262.79K -579.93K -68.8%
Conestoga Capital Advisors 3.06M -482.49K -13.6%
Allspring Global Investments 2M -430.72K -17.8%
Norges Bank 0 -409.79K EXIT
Wellington Management 483.41K +352.62K +269.6%
Granite Investment Partners 395.82K +333.4K +534.1%
Eaton Vance Management 0 -279.75K EXIT

Financial report summary

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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

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