Casella Waste Systems Q2 Revenue Surges to $674.5M

TL;DR

Casella Waste Systems crushed Q2 with $674.5M revenue, up from $574.9M last year. Big growth!

AI Summary

Casella Waste Systems Inc. reported its Q2 2024 results, with total revenues for the six months ended June 30, 2024, reaching $674.5 million. This represents a significant increase compared to the $574.9 million reported for the same period in 2023. The company's fiscal year ends on December 31st, and this 10-Q filing covers the period up to June 30, 2024.

Why It Matters

The substantial revenue growth indicates strong operational performance and potentially increasing demand for waste management services, which could signal positive future earnings for the company.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative developments mentioned.

Key Numbers

• $674.5M — Total Revenues (YTD June 30, 2024) (Represents significant year-over-year growth.)
• $574.9M — Total Revenues (YTD June 30, 2023) (Provides a basis for comparison to current performance.)

Key Players & Entities

• CASELLA WASTE SYSTEMS INC (company) — Filer
• 20240630 (date) — Period of report
• $674.5 million (dollar_amount) — Total revenues for the six months ended June 30, 2024
• $574.9 million (dollar_amount) — Total revenues for the six months ended June 30, 2023
• 25 GREENS HILL ROAD (location) — Business and mailing address
• RUTLAND, VT (location) — City and State of business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• cwst-20240630.htm (10-Q) — 1936KB
• cwst-ex102063024.htm (EX-10.2) — 75KB
• cwst-ex103063024.htm (EX-10.3) — 72KB
• cwst-ex104063024.htm (EX-10.4) — 92KB
• cwst-ex105063024.htm (EX-10.5) — 89KB
• cwst-ex106063024.htm (EX-10.6) — 28KB
• cwst-ex107063024.htm (EX-10.7) — 50KB
• cwst-ex108063024.htm (EX-10.8) — 47KB
• cwst-ex109063024.htm (EX-10.9) — 44KB
• cwst-ex1010063024.htm (EX-10.10) — 43KB
• cwst-ex1011063024.htm (EX-10.11) — 51KB
• cwst-ex311063024.htm (EX-31.1) — 10KB
• cwst-ex312063024.htm (EX-31.2) — 10KB
• cwst-ex321063024.htm (EX-32.1) — 4KB
• cwst-ex322063024.htm (EX-32.2) — 4KB
• 0000911177-24-000079.txt ( ) — 10107KB
• cwst-20240630.xsd (EX-101.SCH) — 45KB
• cwst-20240630_cal.xml (EX-101.CAL) — 80KB
• cwst-20240630_def.xml (EX-101.DEF) — 297KB
• cwst-20240630_lab.xml (EX-101.LAB) — 710KB
• cwst-20240630_pre.xml (EX-101.PRE) — 495KB
• cwst-20240630_htm.xml (XML) — 1703KB

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands) June 30, 2024 December 31, 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 208,502 $ 220,912 Accounts receivable, net of allowance for credit losses of $ 6,333 and $ 4,066 , respectively 161,247 157,324 Refundable income taxes 6,397 3,089 Prepaid expenses 21,282 17,223 Inventory 18,913 17,859 Other current assets 9,463 9,918 Total current assets 425,804 426,325 Property and equipment, net of accumulated depreciation and amortization of $ 1,226,518 and $ 1,167,541 , respectively 987,390 980,553 Operating lease right-of-use assets 98,148 100,844 Goodwill 737,253 735,670 Intangible assets, net 216,961 241,429 Restricted cash and assets 3,251 2,203 Cost method investments 10,967 10,967 Deferred income taxes 8,413 11,224 Other non-current assets 23,678 26,255 Total assets $ 2,511,865 $ 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) June 30, 2024 December 31, 2023 (Unaudited) LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current maturities of debt $ 65,335 $ 35,781 Current operating lease liabilities 8,854 9,039 Accounts payable 94,205 116,794 Accrued payroll and related expenses 16,585 22,657 Accrued interest 3,219 3,886 Contract liabilities 30,662 31,472 Current accrued final capping, closure and post-closure costs 9,280 10,773 Other accrued liabilities 41,548 48,456 Total current liabilities 269,688 278,858 Debt, less current portion 976,620 1,007,662 Operating lease liabilities, less current portion 65,710 66,074 Accrued final capping, closure and post-closure costs, less current portion 131,488 123,131 Deferred income taxes 1,189 627 Other long-term liabilities 29,656 37,327 COM

View Full Filing

View this 10-Q filing on SEC EDGAR