Casella Waste Systems, Inc., a solid waste and recycling management services company, reported its financial results for the three month period ended March 31, 2022.
Highlights for the three months ended March 31, 2022:
•Revenues were $234.0 million for the quarter, up $44.5 million from the same period in 2021.
•Overall solid waste pricing for the quarter was up 5.6 percent, driven by collection pricing, up 6.5 percent, and disposal pricing, up 4.0 percent, from the same period in 2021.
•Net income was $4.2 million for the quarter, down $(0.1) million, or down (2.8) percent, from the same period in 2021; with approximately $1.5 million of the decline associated with a true up of depreciation and amortization expense related to an acquisition in July 2021.
•Adjusted Net Income, a non-GAAP measure, was $5.8 million for the quarter, up $1.0 million, or up 21.5 percent, from the same period in 2021.
•Adjusted EBITDA, a non-GAAP measure, was $45.6 million for the quarter, up $6.7 million, or up 17.3 percent, from the same period in 2021.
•Net cash provided by operating activities was $24.7 million for the quarter, down $(7.4) million.
Published in the June 2022 Edition
