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Casella Waste Systems revenues were $141.3 million

Staff writer ▼ | December 9, 2014
Casella Waste Systems reported financial results for its second quarter of the eight-month transition period ending December 31, 2014.
Casella Waste Systems
Better results   6.8% better period for Casella
For the quarter ended October 31, 2014, revenues were $141.3 million, up $9 million, or 6.8%, from the same quarter last year, with revenue growth mainly driven by higher disposal volumes, higher solid waste collection pricing, customer solutions growth, and acquisition activity.

Operating income was $10.1 million for the quarter, up $0.6 million from the same quarter last year. The current quarter ended October 31, 2014 includes a $0.4 million environmental remediation charge, while the same quarter last year included $0.2 million of unusual charges related to an environmental remediation charge along with severance and reorganization costs.

Adjusted EBITDA was $30.7 million for the quarter, up $1.5 million from the same quarter last year. Excluding the impact of the closure of the Worcester landfill in early calendar year 2014, Adjusted EBITDA was up $2.5 million from the same quarter last year.

The company's net income (loss) attributable to common stockholders was $0.3 million, or $0.01 per common share for the quarter ended October 31, 2014 compared to a net loss of ($0.3) million, or ($0.01) per common share, for the same quarter last year.

The company reaffirmed its operating guidance for the 8-month transition period ending December 31, 2014 with revenues between $356.0 million and $366.0 million and adjusted EBITDA between $71.0 million and $75.0 million.


 

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