Casella Waste Systems Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Casella Waste Systems Inc. filed its Q1 2024 10-Q report, detailing financial performance and position as of March 31, 2024.</b>

AI Summary

CASELLA WASTE SYSTEMS INC (CWST) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Casella Waste Systems Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 25 Greens Hill Road, Rutland, VT. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. The report details financial information related to common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income.

Why It Matters

For investors and stakeholders tracking CASELLA WASTE SYSTEMS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial results and operational updates for Casella Waste Systems Inc. Understanding the financial health and performance metrics in this report is crucial for assessing the company's current standing and future prospects in the waste management industry.

Risk Assessment

Risk Level: low — CASELLA WASTE SYSTEMS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Monitor future filings for revenue growth, profitability trends, and any changes in debt levels to assess the company's financial trajectory.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-04-26 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Reporting period start date)

Key Players & Entities

• CASELLA WASTE SYSTEMS INC (company) — Filer name
• 25 GREENS HILL ROAD (location) — Business and mailing address
• RUTLAND (location) — City for business and mailing address
• VT (location) — State for business and mailing address
• 05701 (location) — ZIP code for business and mailing address

FAQ

Industry Context

Casella Waste Systems operates in the waste management industry, providing collection, transfer, recycling, and disposal services.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare Q1 2024 results with prior periods (Q1 2023, Q4 2023) to identify trends.
3. Note any disclosures regarding operational segments or regional performance if available in the full document.

Key Dates

• 2024-03-31: Quarterly Period End — Financial data reported as of this date for Q1 2024.
• 2024-04-26: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, following the annual report (10-K) for fiscal year 2023.

Key Financial Figures

• $0.01 — which registered Class A common stock, $0.01 par value per share CWST The Nasdaq Sto

Filing Documents

• cwst-20240331.htm (10-Q) — 1367KB
• cwst-ex311033124.htm (EX-31.1) — 10KB
• cwst-ex312033124.htm (EX-31.2) — 10KB
• cwst-ex321033124.htm (EX-32.1) — 4KB
• cwst-ex322033124.htm (EX-32.2) — 4KB
• 0000911177-24-000051.txt (&nbsp;) — 7222KB
• cwst-20240331.xsd (EX-101.SCH) — 40KB
• cwst-20240331_cal.xml (EX-101.CAL) — 65KB
• cwst-20240331_def.xml (EX-101.DEF) — 267KB
• cwst-20240331_lab.xml (EX-101.LAB) — 636KB
• cwst-20240331_pre.xml (EX-101.PRE) — 439KB
• cwst-20240331_htm.xml (XML) — 1088KB

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands) March 31, 2024 December 31, 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 189,457 $ 220,912 Accounts receivable, net of allowance for credit losses of $ 3,881 and $ 4,066 , respectively 146,795 157,324 Refundable income taxes 4,108 3,089 Prepaid expenses 14,975 17,223 Inventory 18,537 17,859 Other current assets 11,530 9,918 Total current assets 385,402 426,325 Property and equipment, net of accumulated depreciation and amortization of $ 1,196,561 and $ 1,167,541 , respectively 978,622 980,553 Operating lease right-of-use assets 99,679 100,844 Goodwill 736,513 735,670 Intangible assets, net 228,865 241,429 Restricted assets 2,281 2,203 Cost method investments 10,967 10,967 Deferred income taxes 11,018 11,224 Other non-current assets 23,907 26,255 Total assets $ 2,477,254 $ 2,535,470 The accompanying notes are an integral part of these consolidated financial statements. 1 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Continued) (in thousands, except for share and per share data) March 31, 2024 December 31, 2023 (Unaudited) LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current maturities of debt $ 63,368 $ 35,781 Current operating lease liabilities 8,825 9,039 Accounts payable 79,989 116,794 Accrued payroll and related expenses 12,126 22,657 Accrued interest 3,527 3,886 Contract liabilities 29,715 31,472 Current accrued final capping, closure and post-closure costs 10,140 10,773 Other accrued liabilities 36,431 48,456 Total current liabilities 244,121 278,858 Debt, less current portion 980,878 1,007,662 Operating lease liabilities, less current portion 66,630 66,074 Accrued final capping, closure and post-closure costs, less current portion 127,184 123,131 Deferred income taxes 908 627 Other long-term liabilities 31,609 37,327 COMMITMEN

Legal Proceedings

Legal Proceedings In the ordinary course of our business and as the result of the extensive governmental regulation of the solid waste industry, we are subject to various judicial and administrative proceedings involving state and local agencies. In these proceedings, an agency may seek to impose fines or to revoke or deny renewal of an operating permit held by us. From time to time, we may also be subject to actions brought by special interest or other groups, adjacent landowners or residents in connection with the permitting and licensing of landfills and transfer stations, or allegations of environmental damage or violations of the permits and licenses pursuant to which we operate. In addition, we may be named defendants in various claims and suits pending for alleged damages to persons and property, alleged v

View Full Filing

View this 10-Q filing on SEC EDGAR