NASDAQ$CWST
Casella Waste Systems Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Casella Waste Systems, Inc. announced first quarter 2022 results, reflecting strong pricing programs and the continued execution of key operating programs. The company also updated fiscal year 2022 guidance.
Casella Waste Systems reported a revenue increase of 23.5% compared to the same period in 2021, driven by acquisitions, positive pricing, and higher volumes. Net income decreased slightly, while adjusted EBITDA increased by 17.3%. The company updated its fiscal year 2022 guidance, raising revenue and adjusted EBITDA expectations.
- Revenues increased by 23.5% to $234.0 million compared to Q1 2021.
- Overall solid waste pricing increased by 5.6%, with collection pricing up 6.5% and disposal pricing up 4.0%.
- Net income decreased by 2.8% to $4.2 million, impacted by depreciation and amortization expenses.
- Adjusted Free Cash Flow increased by 59.4% to $16.3 million compared to Q1 2021.
Headline financials
Revenue & EPS history
Casella · Revenue · Quarterly
$234M
Revenue by segment
Casella · $165M total across 3 segments · Q1 2022
- Collection$120M+22.6%72.7%
- Disposal$43.2M+14.0%26.2%
- Solid Waste Processing$1.82M+22.6%1.1%
Forward guidance
Casella updated certain fiscal year 2022 guidance ranges, expecting positive contributions from the Northstar acquisition and strong operating execution. The guidance assumes a stable economic environment and expects pricing and cost recovery fees to outpace inflation.
Tailwinds
- Revenues between $1.005 billion and $1.020 billion (raised from a range of $980 million to $995 million).
- Adjusted EBITDA between $232 million and $236 million (raised from a range of $228 million to $232 million).
- Net cash provided by operating activities between $204 million and $208 million (raised from a range of $202 million to $206 million).
- Net income between $48 million and $52 million (reaffirmed).
- Adjusted Free Cash Flow between $104 million and $108 million (reaffirmed).
Headwinds
- Guidance assumes a stable economic environment continuing through the remainder of the year, including the current historically high inflationary environment.
- Forward-looking estimates for fiscal year 2022 do not contemplate any unanticipated or non-recurring impacts.
- Company may be unable to adequately increase prices to offset increased costs and inflationary pressures, including increased fuel prices.
- It is challenging to predict the duration and scope of the COVID-19 pandemic and its negative effect on the economy, our operations and financial results.
- The capping and closure of the Subtitle D landfill located in Southbridge, Massachusetts could result in material unexpected costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+1.8%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+3.6%
Avg return
30 days after
61%
36 / 59 earnings
Positive
+27.5%
Q1 2010
Best reaction
-7.6%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +9.7% | +6.7% | +3.7% | |
| Q4 2025 | -5.8% | -12.0% | -23.3% | |
| Q3 2025 | +7.1% | +8.6% | +16.4% | |
| Q1 2025 | -0.7% | +2.5% | -0.1% | |
| Q4 2024 | +0.1% | +7.8% | +0.7% | |
| Q3 2024 | -4.4% | -2.9% | +10.5% | |
| Q2 2024 | +1.8% | -1.5% | +4.2% | |
| Q1 2024 | -5.2% | -4.8% | +5.0% | |
| Q4 2023 | -0.1% | -1.4% | +4.5% | |
| Q3 2023 | +4.1% | +5.7% | +10.8% | |
| Q2 2023 | -4.7% | -2.4% | -4.5% | |
| Q1 2023 | +2.8% | +3.4% | +6.7% | |
| Q4 2022 | -4.4% | -4.9% | -1.9% | |
| Q3 2022 | +3.9% | +6.8% | +10.3% | |
| Q2 2022 | +6.2% | +7.0% | +7.7% | |
| Q1 2022 | -5.6% | -11.9% | -16.4% | |
| Q4 2021 | +1.0% | -4.1% | +17.2% | |
| Q3 2021 | +4.6% | +5.1% | +3.3% | |
| Q2 2021 | +6.1% | +7.4% | +13.1% | |
| Q1 2021 | +0.7% | +0.6% | +1.1% | |
| Q4 2020 | +1.6% | +0.3% | +7.6% | |
| Q3 2020 | -3.0% | +0.3% | +7.2% | |
| Q2 2020 | +0.3% | +2.1% | +5.6% | |
| Q1 2020 | +7.0% | +6.4% | +13.8% | |
| Q4 2019 | -2.5% | -3.3% | -26.0% | |
| Q3 2019 | -0.9% | -1.2% | +9.7% | |
| Q2 2019 | +3.8% | +2.9% | +4.4% | |
| Q1 2019 | +0.5% | +0.6% | +3.1% | |
| Q4 2018 | +0.4% | -0.7% | -0.4% | |
| Q3 2018 | -7.6% | -4.8% | +0.3% | |
| Q2 2018 | +1.3% | +2.4% | +1.4% | |
| Q1 2018 | +7.7% | +0.2% | -4.7% | |
| Q4 2017 | -2.2% | -5.4% | -8.0% | |
| Q3 2017 | +12.0% | +6.7% | +14.2% | |
| Q2 2017 | -7.2% | -5.3% | +0.9% | |
| Q1 2017 | -0.6% | -1.1% | -1.6% | |
| Q4 2016 | +10.2% | +12.1% | +20.8% | |
| Q3 2016 | +3.1% | +6.1% | +20.1% | |
| Q2 2016 | +4.3% | +5.5% | +2.7% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | +2.5% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | +3.0% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q1 2014 | -1.2% | — | — | |
| Q3 2013 | -2.0% | — | — | |
| Q2 2014 | -1.3% | — | — | |
| Q2 2013 | +6.5% | — | — | |
| Q1 2013 | +5.9% | — | — | |
| Q4 2012 | +8.3% | — | — | |
| Q2 2012 | +8.3% | — | — | |
| Q3 2011 | -1.4% | — | — | |
| Q2 2011 | -2.1% | — | — | |
| Q1 2012 | +4.5% | — | — | |
| Q1 2011 | -0.6% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q2 2010 | +1.8% | — | — | |
| Q1 2010 | +27.5% | — | — | |
| Q4 2009 | +2.5% | — | — |
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