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Casella Waste Systems (CWST)
NASDAQ:CWST
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.18Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a constructive outlook: strong fiscal 2025 growth in revenue, EBITDA and free cash flow, margin expansion in the base business, a robust M&A pipeline and ample liquidity. Near-term headwinds include recycling commodity weakness, certain third-party volume declines, one-time closure costs and short-term integration/G&A investment that dilute margins. Management communicated confidence in operational improvements, automation savings (> $5M in 2026), permit/expansion progress and multi-year G&A leverage benefits expected to start in 2027.Company Guidance
Strong Full-Year Growth Across Key Financial Metrics
Fiscal 2025 revenues +18% year-over-year, Adjusted EBITDA +17% year-over-year, and adjusted free cash flow +14% year-over-year; marks fifth consecutive year of double-digit growth across these three metrics.
Fourth Quarter Revenue and EBITDA Improvement
Q4 revenues $469.1M, up $41.6M or +9.7% year-over-year (including $23.1M from acquisitions and $18.5M same-store growth or 4.3%); Q4 Adjusted EBITDA $107M, up $12M or +12.7% year-over-year; adjusted EBITDA margin 22.8%, up ~60 basis points year-over-year.
Margin Expansion in Base Business
Adjusted EBITDA margins excluding acquisitions expanded 55 basis points year-over-year; base collection and disposal margins (excluding acquisition impacts) increased 170 basis points year-over-year driven by disciplined pricing, higher landfill volumes (internalization) and operational efficiencies.
Active and Accretive M&A Pipeline
Completed 9 acquisitions in 2025 adding over $115M of annualized revenue; closed Mountain State Waste on Jan 1, 2026 (~$30M annualized revenue); acquisition pipeline described as robust with opportunities >$500M of annualized revenues.
Healthy Balance Sheet and Liquidity
Consolidated net leverage ~2.3x (2.34x covenant basis), $1.17B debt, $124M cash, and over $700M revolver availability (undrawn) to fund growth and M&A.
Operational Investments and Expected Near-Term Savings
Received 40 automated trucks and expect associated labor efficiencies, route optimization and on-street changes to generate >$5M of savings in 2026; McKean landfill rail upgrade on track for Q2 2026 to expand rail-handling capability.
Resource Solutions Resilience and Risk Management
Resource Solutions revenues +9.1% and segment adjusted EBITDA +9.6% for the year; commodity price weakness partially mitigated by contract structures that offset ~80% of commodity downside risk and limited the revenue impact of lower commodity prices to under $1M in the quarter.
2026 Financial Guidance Reflects Continued Growth
Guidance for 2026: revenue $1.97B–$1.99B (~8% growth at midpoint), Adjusted EBITDA $455M–$465M (~9% growth at midpoint), adjusted free cash flow $195M–$205M (~11% growth at midpoint); guidance assumes $60M of acquired revenue and ~4.5% organic growth at midpoint.
CWST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CWST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $101.28 | $95.46 | -5.75% |
Oct 30, 2025 | $82.84 | $88.57 | +6.92% |
Jul 31, 2025 | $108.73 | $102.98 | -5.29% |
May 01, 2025 | $117.33 | $116.75 | -0.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Casella Waste Systems (CWST) report earnings?
Casella Waste Systems (CWST) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Casella Waste Systems (CWST) earnings time?
Casella Waste Systems (CWST) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CWST EPS forecast?
CWST EPS forecast for the fiscal quarter 2026 (Q1) is 0.18.