SEATTLE (Recycling Monster): Leading waste management company Casella reported financial and operating results for the second quarter of the year. The company reported strong quarterly growth, primarily on account of stable performance across the company’s Northeast footprint.
The company reported Q2 revenue of $465.3 million, significantly higher by 23.4% from the corresponding quarter a year before. The Q2 net income of $5.2 million was down substantially by 25.7% year-on-year. Also, it reported 19.5% year-on-year growth in adjusted EBITDA to $109.5 million.
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The solid waste pricing for Q2 this year was up 5% over Q2 2024. The collection price recorded a growth of 4.9%, whereas the disposal price growth stood at 5.8%. Also, landfill volumes were up 9.5% year-on-year.
Casella completed six acquisitions in the initial six-month period of the year, representing over $90 million in annualized revenue. It foresees several other acquisitions in pipeline for 2025. It aims to solidify the investments made along the Eastern Seaboard, including the Mid-Atlantic, while looking for fresh acquisitions in these regions.
The company raised its revenue guidance for the year to between $1.82 billion and $1.84 billion, up from $1.78 billion to $1.81 billion. It expects the net income to range between $8 million and $18 million, compared with the prior estimate of between $10 million and $25 million.