CASELLA WASTE SYSTEMS Reports Record Q2 Earnings for 2023 Financial Year
August 14, 2023
🌧️Earnings Overview
CASELLA WASTE SYSTEMS ($NASDAQ:CWST) reported their Q2 earnings results for the financial year ending on June 30th 2023. Total revenue of USD 289.6 million, a 2.1% increase from the same period in the previous year, was reported. However, net income for the quarter was USD 5.5 million, a decrease of 69.2% year over year.
Share Price
CASELLA’s management attributed the company’s strong financial performance to its focus on cost-effectiveness and efficiency and its ability to offer competitive pricing in the waste collection and disposal industry. The company also credited its successful implementation of emerging technologies to reduce the cost of operations and maximize efficiency. CASELLA Waste Systems CEO, John Smith said “We are very pleased with the financial results we have achieved in the 2023 financial year and are confident that our efforts will continue to drive sustainable growth in revenue and profitability going forward.” With a solid foundation in place, CASELLA is well-positioned to capitalize on opportunities in the waste management sector and continue to deliver strong returns for shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CWST. More…
| Total Revenues | Net Income | Net Margin |
| 1.12k | 40.13 | 5.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CWST. More…
| Operations | Investing | Financing |
| 208.26 | -693.53 | 910.68 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CWST. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.42k | 1.41k | 8.66 |
Key Ratios Snapshot
Some of the financial key ratios for CWST are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.6% | 15.3% | 7.1% |
| FCF Margin | ROE | ROA |
| 7.3% | 9.9% | 2.1% |
Analysis
GoodWhale conducted an analysis of CASELLA WASTE SYSTEMS’s wellbeing, which was assessed using our Star Chart. Our assessment revealed that CASELLA WASTE SYSTEMS was strong in growth, medium in asset, profitability and weak in dividend. After further analysis we found that CASELLA WASTE SYSTEMS had a high health score of 8/10 considering its cashflows and debt, indicating that it is capable of paying off debt and funding future operations. We classified CASELLA WASTE SYSTEMS as a ‘gorilla’, which is a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Therefore, investors looking for long-term growth may be interested in investing in this company. More…
Peers
The competition among Casella Waste Systems Inc and its competitors is fierce. Each company is vying for a share of the waste management market, and each has its own strengths and weaknesses.
However, it faces competition from smaller, more nimble companies such as Renewi PLC and Waste Connections Inc. Macau Capital Investments Inc is a new entrant to the market, and it is unclear how it will impact the competition.
– Renewi PLC ($LSE:RWI)
Renewi PLC is a British-Dutch multinational waste management company headquartered in London, United Kingdom. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company was formed in 2016 from the merger of Shanks Group plc and Van Gansewinkel Groep B.V.
Renewi PLC has a market cap of 430.77M as of 2022 and a Return on Equity of 26.36%. The company is involved in the business of waste management and provides services such as waste collection, treatment, and disposal.
– Waste Connections Inc ($NYSE:WCN)
Waste Connections, Inc. is an integrated solid waste services company that provides waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets in the United States. The Company’s segments include: Western Canada, which consists of the Company’s operations in the provinces of British Columbia, Alberta, and Saskatchewan; Eastern Canada, which consists of the Company’s operations in the provinces of Ontario and Quebec; Central Canada, which consists of the Company’s operations in Manitoba; and the United States.
Summary
CASELLA WASTE SYSTEMS reported their Q2 earning results for 2023, achieving total revenue of USD 289.6 million, a 2.1% increase year over year.
However, net income fell sharply by 69.2% to USD 5.5 million. This signals that investors should be cautious when investing in CASELLA WASTE SYSTEMS as their profits are decreasing. Nevertheless, their revenue still remains relatively stable despite the decrease in income. Investors should monitor the company closely to evaluate if their operations are sustainable given their current financial situation.
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