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.
- 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.