NASDAQ$CWST
Casella Waste Systems Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Third quarter financial results exceeded expectations, with solid operating execution, cost efficiencies and strong cash flow growth.
Casella Waste Systems reported strong Q3 2021 results, exceeding expectations with solid operating execution, cost efficiencies, and strong cash flow growth. Revenues increased by 19.4% and Adjusted EBITDA by 19.4% year-over-year. The company raised its revenue, net income, Adjusted EBITDA, net cash provided by operating activities, and Adjusted Free Cash Flow guidance ranges for the fiscal year ending December 31, 2021.
- Revenues were $242.0 million for the quarter, up $39.3 million, or up 19.4%, from the same period in 2020.
- Overall solid waste pricing for the quarter was up 4.1%, driven by collection pricing, up 4.6%, and landfill pricing, up 3.7%, from the same period in 2020.
- Net income was $15.9 million for the quarter, up $0.8 million, or up 4.9%, from the same period in 2020.
- Adjusted EBITDA was $61.2 million for the quarter, up $10.0 million, or up 19.4%, from the same period in 2020.
Headline financials
Revenue & EPS history
Casella · Revenue · Quarterly
$242M
Revenue by segment
Casella · $177M total across 3 segments · Q3 2021
- Collection$119M+16.2%67.0%
- Disposal$55.6M+16.8%31.3%
- Solid Waste Processing$2.96M+34.9%1.7%
Forward guidance
The Company raised guidance for the third time in fiscal year 2021 by estimating results in the following ranges (as compared to the fiscal year 2021 guidance ranges as updated on July 29, 2021):
Tailwinds
- Revenues between $870 million and $880 million (as compared to between $850 million and $860 million);
- Net income between $37 million and $41 million (as compared to between $35 million and $39 million);
- Adjusted EBITDA between $200 million and $204 million (as compared to between $195 million and $199 million);
- Net cash provided by operating activities between $162 million and $166 million (as compared to between $158 million and $162 million); and
- Adjusted Free Cash Flow between $85 million and $89 million (as compared to between $79 million and $83 million).
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 Q3 2021
+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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