SEATTLE (Recycling Monster): Casella Waste Systems reported results for the first quarter of 2024. The company posted strong collection and disposal pricing and significantly higher recycling commodity prices during the quarter.

Casella’s Q1 revenue totalled $341 million, significantly higher by almost 30% from the prior year quarter. Compared to net income of $3.5 million reported during Q1 2023, the company posted net loss of $4.1 million during the initial quarter of 2024. The solid waste pricing was up by 5.5%, mainly driven by 6.2% surge in collection price growth and 4% rise in disposal price growth.

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The company reported excellent progress on completion of rail infrastructure improvements at the McKean Landfill in Pennsylvania, which it expects to become online by mid-2024. Also, Casella is well on track to complete its first major RNG project at the Juniper Ridge Landfill in Maine, said the company press release.

The proposed fleet optimization strategies to be implemented over the next three years is expected to lead to cost savings of approximately $4 million. It must be noted that Casella had eliminated 14 trucks from its fleet through route optimizations.

Casella cited new PFAS rules as a positive development as they offer regulatory clarity in addition to offering opportunities for future business.