Latest news with #CasellaWasteSystems
Yahoo
5 days ago
- Business
- Yahoo
Casella CEO stepping down in 2026, elevating President Ned Coletta
This story was originally published on Waste Dive. To receive daily news and insights, subscribe to our free daily Waste Dive newsletter. John Casella will step down as CEO of Casella Waste Systems effective Jan. 1, 2026. Ned Coletta, Casella's president, will take on the CEO role. John Casella will stay on as the company's executive chairman of the board, according to a news release. Coletta will remain president and will join the board as a Class II director during that time. John Casella joined Casella in 1976, the year after his brother, Doug, started the company as Casella Refuse Removal. The longtime CEO has led the company through milestones such as the company going public in 1997 and the company's recent 50th anniversary. Casella has also served as a member of several associations and groups such as the Association of Vermont Recyclers, the Rutland Industrial Development Corporation, the National Recycling Coalition, the Environmental Research & Education Foundation and the Detachable Container Association. He has also served as an advisor on solid waste issues for the governors of Vermont, New York and New Hampshire. Casella notified the board on August 1 that he planned to step down. 'I am incredibly proud of the dedication and hard work from our entire Casella team over five decades,' said John Casella in a statement. 'It has been my privilege to lead this company and witness its evolution into an industry leader committed to sustainability and innovation.' Casella said he has 'great confidence' in Coletta and other company leadership 'to build on our legacy of delivering exceptional service and sustainable solutions.' Coletta joined Casella in 2004 and held various positions, including senior vice president, treasurer, and vice president of finance and investor relations. He served as CFO for 11 years before also becoming president in July 2022. Before coming to Casella, Coletta co-founded and served as CFO of medical device company Avedro. He also worked in research and development engineering at Lockheed Martin Michoud Space Systems. 'Our success has always been driven by our talented and dedicated people,' said Coletta in a statement. 'I am honored to lead the Casella team as we continue to innovate and deliver sustainable resource management solutions that benefit our customers, communities, and the environment.' In an interview with Waste Dive in 2024, Coletta said his transition to the role of president allowed him to 'pass the financial baton' and spend more time on bigger picture strategy work. Coletta's annual salary will be $750,000, effective Jan. 1, with a target annual cash bonus percentage of 150% of his base salary. He will also receive an annual equity award for 2026 of $2.5 million, delivered 25% in restricted stock units and 75% in performance-based stock units. John Casella will have a reduced salary of $750,000 as of Jan. 1 for his new executive chairman role, with a target annual cash bonus percentage of 100% of his base salary. He will also receive an annual equity award of $2 million for 2026 and 2027, according to filings. Vermont-based Casella reported revenue of $1.56 billion in 2024 and employs more than 5,000 people. It operates in multiple Northeast states, which have been experiencing diminishing disposal capacity. In the last few years, Casella has focused on expansion into the mid-Atlantic through its acquisition of several GFL Environmental assets and other regional deals. Casella noted during the company's recent Q2 earnings call that the company also planned to focus on other acquisitions along the Eastern Seaboard. The company has also focused on upgrading and scaling its recycling services and ramping up work at its rail-served McKean Landfill in Pennsylvania, among other long-term expansion plans. Editor's note: This article has been updated with additional details about Casella as well as its executive compensation plans. Recommended Reading Casella president outlines growth plans for mid-Atlantic and other priorities Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-08-2025
- Business
- Yahoo
Why Casella Waste Systems Stock Flopped on Friday
Key Points The company's bottom-line miss in its second quarter was striking. That was compounded by a guidance reduction for full-year profitability. 10 stocks we like better than Casella Waste Systems › Solid waste and recycling management company Casella Waste Systems (NASDAQ: CWST) was surely eager to start its weekend. On Friday, the company published quarterly results that were a dud with investors, who sent its share price down by more than 5%. That was more deeply in the red than the S&P 500 index's 1.6% dive. One big whiff Much of this was because of a fairly wide bottom-line miss in Casella's second quarter, the results of which were published after market close Thursday. In the quarter, Casella booked revenue of over $465 million. So far, so good, as this was more than 23% higher than in the same quarter of 2024. Further down the profit and loss statement, however, the company revealed that its generally accepted accounting principles (GAAP) net income fell to $5.2 million ($0.08 per share) from the year-ago profit of slightly over $7 million. That drop was discouraging enough, but it was exacerbated by the fact that analysts were expecting far better from the company. On average, they were modeling $0.33 per share for bottom-line profitability, although they underestimated revenue with a collective $454 million projection. Acquisitions played a role in Casella's top-line growth, as the company completed six buyouts across the first half of this year. Management also said higher landfill volumes were a catalyst. Notable guidance revisions Outside of the bottom-line miss, Casella's change in guidance was dismaying for investors. Although it raised its outlook for full-year 2025 revenue -- $1.82 billion to $1.84 billion from just under $1.78 billion to a bit over $1.8 billion -- it cut that for profitability. The company now believes its GAAP net income will land at $8 million to $18 million; the previous guidance called for $10 million to $25 million. Should you buy stock in Casella Waste Systems right now? Before you buy stock in Casella Waste Systems, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Casella Waste Systems wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Casella Waste Systems Stock Flopped on Friday was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
31-07-2025
- Business
- Globe and Mail
Casella Waste Systems, Inc. Announces Pricing of Remarketed Finance Authority of Maine Solid Waste Disposal Revenue Bonds
RUTLAND, Vt., July 31, 2025 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. ('Casella') (NASDAQ:CWST), a regional solid waste, recycling and resource management services company, today announced that it has priced the previously announced remarketing of $29.0 million aggregate principal amount of Finance Authority of Maine (the 'Issuer') Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2015R-1 issued on August 27, 2015 and Series 2015R-2 issued on April 2, 2018 (collectively, the 'Bonds'). The Bonds were originally issued in the aggregate principal amount of $30.0 million and have a final maturity of August 1, 2035. It is expected that $1.0 million of the aggregate principal amount of Bonds will be redeemed by Casella on August 1, 2025 with cash on hand, and the remaining $29.0 million of the aggregate principal amount of Bonds (the 'Remarketed Bonds') will be remarketed on such date. Pursuant to the indenture under which the Bonds were offered (the 'Indenture'), the interest rate periods under which the Bonds were previously issued expire on July 31, 2025, and accordingly, the Bonds are subject to mandatory tender on August 1, 2025. Casella expects that the Bonds will be remarketed on August 1, 2025 at a new interest rate of 5.000% per annum for a new interest rate period commencing on August 1, 2025 and ending on July 31, 2035. The remarketing and redemption are expected to become effective on August 1, 2025, and the Remarketed Bonds are anticipated to be sold and designated as a single bond identified as Series 2015R-3. The Bonds have been, and the Remarketed Bonds will be, guaranteed by all or substantially all of Casella's subsidiaries, as required pursuant to the terms of the financing agreement pursuant to which the Issuer loaned the proceeds of the Bonds to Casella. The Bonds and the Remarketed Bonds are not a general obligation of the Issuer and do not constitute an indebtedness of or a charge against the general credit of the Issuer. The Bonds and the Remarketed Bonds are not a debt of the State of Maine and are payable solely from amounts received from Casella under the terms of the Indenture. The Remarketed Bonds are being offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). The Remarketed Bonds have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Remarketed Bonds, nor shall there be any sale of the Remarketed Bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act. Safe Harbor Statement Certain matters discussed in this press release, including, among others, the statements regarding the remarketing of the Remarketed Bonds, are 'forward-looking statements' intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as 'believe,' 'expect,' 'anticipate,' 'plan,' 'may,' 'will,' 'would,' 'intend,' 'estimate,' 'guidance' and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which Casella operates and management's beliefs and assumptions. Casella cannot guarantee that the remarketing or redemption of the Bonds will be completed, that the Bond proceeds will be available or applied as expected or that it actually will achieve the plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in Casella's forward-looking statements. Such risks and uncertainties include or relate to, among other things: market conditions and Casella's ability to consummate the remarketing of the Remarketed Bonds, the receipt of all necessary consents and the satisfaction of all other closing conditions with respect to the remarketing of the Remarketed Bonds, as well as additional risks and uncertainties detailed in Item 1A, 'Risk Factors' in Casella's Form 10-K for the fiscal year ended December 31, 2024 and in other filings that Casella periodically makes with the Securities and Exchange Commission. There can be no assurance that Casella will be able to complete the remarketing or redemption of the Bonds on the anticipated terms, or at all. Casella undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Yahoo
27-06-2025
- Business
- Yahoo
The Top 5 Analyst Questions From Casella Waste Systems's Q1 Earnings Call
Casella Waste Systems delivered first quarter results that exceeded Wall Street's revenue and non-GAAP profit expectations, supported by ongoing strength in its landfill business and disciplined pricing. Management attributed the strong start to execution on fleet automation, improved employee retention, and integrating recent acquisitions. CEO John Casella emphasized, "Operationally, we continue to make excellent progress on initiatives to expand fleet automation, onboard computing, internalize incremental volume into our landfills, and improve employee retention." The company also overcame a challenging winter in the Northeast, with positive contributions from both organic growth and acquired businesses. Is now the time to buy CWST? Find out in our full research report (it's free). Revenue: $417.1 million vs analyst estimates of $404.6 million (22.3% year-on-year growth, 3.1% beat) Adjusted EPS: $0.19 vs analyst estimates of $0.10 (85% beat) Adjusted EBITDA: $80.16 million vs analyst estimates of $83.98 million (19.2% margin, 4.5% miss) The company reconfirmed its revenue guidance for the full year of $1.79 billion at the midpoint EBITDA guidance for the full year is $417.5 million at the midpoint, in line with analyst expectations Operating Margin: 0.8%, down from 2% in the same quarter last year Organic Revenue rose 3.1% year on year (2.1% in the same quarter last year) Market Capitalization: $7.26 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Adam Bubes (Goldman Sachs) asked how much of landfill volume recovery stemmed from recapturing lost construction and demolition waste. President Ned Coletta explained about one-third was recaptured volume, while two-thirds came from new transportation lanes and improved sales processes. Trevor Romeo (William Blair) inquired about the sustainability of strong pricing trends. Jason Mead, EVP, stated pricing was slightly ahead of budget but expects some moderation through the year, with guidance remaining at about 5%. Trevor Romeo (William Blair) also questioned the progress and challenges in integrating recent acquisitions. Coletta responded that operational and HR integration were ahead of expectations, but IT systems remain a bottleneck, representing future value-creation opportunities. James Schumm (TD Cowen) asked about the dynamics behind lower disposal volumes but higher landfill volumes. Coletta clarified that transfer station activity was weak due to weather and construction, but landfill volumes were strong, driven by internalization and sales initiatives. Stephanie Moore (Jefferies) sought detail on the EBITDA contribution from internalization following acquisitions. Coletta emphasized the benefit is acquisition-dependent and unfolds over time as contracts and logistics allow the movement of waste into owned landfills. In the coming quarters, our analysts will be watching (1) the pace at which Casella integrates and realizes synergies from new acquisitions, (2) progress on further internalizing waste volumes into company-owned landfills, and (3) the operational and financial impact of recycling facility upgrades such as Willimantic. Monitoring how management navigates macroeconomic uncertainties and potential tariff exposure will also be key to assessing ongoing performance. Casella Waste Systems currently trades at $113.74, down from $117.14 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
07-06-2025
- Business
- Yahoo
Casella Waste price target raised to $135 from $130 at TD Cowen
TD Cowen raised the firm's price target on Casella Waste (CWST) to $135 from $130 and keeps a Buy rating on the shares. The firm sees its growth as underappreciated and believes consensus revenue estimates typically exclude M&A and make high growth forecasts overly conservative while forward multiples appear artificially high. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on CWST: Disclaimer & DisclosureReport an Issue Casella Waste Systems Reports Strong Q1 2025 Revenue Growth Casella Waste Systems Reports Record Earnings and Growth Casella Waste: Strong Performance and Strategic Growth Drive Buy Rating Casella Waste reports Q1 adjusted EPS 19c, consensus 10c Casella Waste sees FY25 revenue $1.775B-$1.805B, consensus $1.79B Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
