Casella Waste Systems, Inc., a regional solid waste, recycling and resource management services company, reported its financial results for the three and twelve-month periods ended December 31, 2024. The company also provided guidance for the fiscal year ending December 31, 2025.
Key Highlights:
- Revenues were $427.5 million for the quarter, up $67.9 million, or up 18.9 percent, from the same period in 2023. Revenues were $1.557 billion for the fiscal year ended December 31, 2024, up $292.7 million, or up 23.1 percent, from the fiscal year ended December 31, 2023.
- Solid waste pricing for fiscal year 2024 was up 5.7 percent from fiscal year 2023, driven by 6.5 percent collection price growth and 3.9 percent disposal price growth.
- Net income (loss) was $4.9 million for the quarter, up $6.7 million, as compared to $(1.8 million) for the same period in 2023. Net income was $13.5 million for fiscal year 2024, down $(11.9 million), or down (46.7 percent), as compared to $25.4 million in fiscal year 2023. Adjusted Net Income, a non-GAAP measure, was $80.7 million for fiscal year 2024, up $6.5 million, or up 8.7 percent, from fiscal year 2023.
- Net cash provided by operating activities was $281.4 million for fiscal year 2024, up $48.3 million, or up 20.7 percent, from fiscal year 2023.
- Adjusted Free Cash Flow, a non-GAAP measure, was $158.3 million for fiscal year 2024, up $30.0 million, or up 23.4 percent, from fiscal year 2023.
- Acquired eight businesses in fiscal year 2024 with over $200 million of annualized revenues and three businesses in fiscal year 2025 year-to-date with approximately $40 million of annualized revenues.
“We finished the year strong, reporting records yet again across our key financial metrics in 2024, with growth of over 20 percent in revenues, Adjusted EBITDA and Adjusted Free Cash Flow,” said John W. Casella, chairman and chief executive officer of Casella Waste Systems, Inc.
“We acquired eight businesses in 2024 with over $200 million in annualized revenue, further strengthening our operating capabilities in our Mid-Atlantic markets and entering a strategically attractive adjacency in the Hudson Valley region of New York,” Casella said. “We have started the year strong on the growth front already in 2025, with three acquisitions and approximately $40 million in annualized revenues. These acquired operations have generally come in at initial Adjusted EBITDA margins at or below our consolidated average, but represent significant improvement opportunity going forward as we continue to integrate the businesses, invest in organic growth, and implement our operating initiatives and practices.”
Published April 2025
