JULY 2010

Casella Waste announces fourth quarter and fiscal year 2010 results

Casella Waste Systems, Inc. reported financial results for its fourth quarter and 2010 fiscal year, and gave guidance on its 2011 fiscal year.

Highlights include:

  • Revenues were up 11.5 percent from the same quarter last year, with 6.7 percent growth in the Solid Waste group, the first quarter of Solid Waste volume growth in eight quarters and the eighth consecutive quarter of pricing growth.
  • Solid Waste volume growth in the quarter driven by higher landfill volumes and sequentially improving collection volumes; Recycling commodity prices strengthened sequentially for the fifth straight quarter.
  • Adjusted EBITDA for the quarter was $29.1 million, up $3.8 million from the same quarter last year.
  • Adjusted EBITDA margin for the quarter was 22.3 percent, up 80 basis points from the same quarter last year.
  • Fiscal year 2010 guidance ranges achieved with revenues of $522.3 million, Adjusted EBITDA of $123.6 million, and free cash flow of $0.8 million.