NASDAQ$CWST
Casella Waste Systems Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Financial results exceeded forecast due to strong operating execution, real-time cost controls, and disciplined cash flow management.
Casella Waste Systems reported revenues of $188.8 million for the quarter, a 0.7% increase from the same period in 2019. Net income was $12.1 million, up 1.7% from the previous year, and Adjusted EBITDA was $44.0 million, an 8.9% increase. The company maintained pricing discipline with collection pricing up 4.3% and landfill pricing up 6.2%. They also reintroduced fiscal year 2020 guidance.
- Revenues for the quarter were $188.8 million, up 0.7% from the same period in 2019.
- Overall solid waste pricing for the quarter was up 4.4%, with collection pricing up 4.3%, and landfill pricing up 6.2%, from the same period in 2019.
- Net income was $12.1 million for the quarter, up 1.7% from the same period in 2019.
- Adjusted EBITDA was $44.0 million for the quarter, up 8.9% from the same period in 2019.
Headline financials
Revenue & EPS history
Casella · Revenue · Quarterly
$189M
Revenue by segment
Casella · $138M total across 2 segments · Q2 2020
- Collection$94M—68.2%
- Disposal$43.7M—31.8%
Forward guidance
The Company provided guidance for fiscal year 2020 by estimating results in the following ranges: Revenues between $755 million and $770 million; Net income between $23 million and $28 million; Adjusted EBITDA between $158 million and $163 million; Net cash provided by operating activities between $122 million and $126 million; and Adjusted Free Cash Flow between $53 million and $57 million.
Tailwinds
- Revenues between $755 million and $770 million
- Net income between $23 million and $28 million
- Adjusted EBITDA between $158 million and $163 million
- Net cash provided by operating activities between $122 million and $126 million
- Adjusted Free Cash Flow between $53 million and $57 million
Headwinds
- Variables outside of their control, such as new waves of COVID-19
- Additional stay-at-home orders
- Impacts on the economy as the Federal stimulus programs run their course
- Guidance ranges assume a stable to modestly improving economic environment for the remainder of the year
- Experienced a rapid recovery in business activity from late April through mid-June as the stay-at-home orders were first lifted, however this rebound has flattened through July and they do not expect their normal seasonal business uptick from the second to third quarter
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 Q2 2020
+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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