Casella Reports Revenue Increase For Q1
Casella Waste Systems Inc., Rutland, Vermont, has an- nounced its financial results for the first quarter of 2020. The company reported revenues were $182.9 million for the quarter, which was up $19.2 million, or 11.8 percent, from the same period in 2019. “Our solid waste pricing programs were ahead of budget as we advanced 5.2 percent pricing in the collection line- of-business and 10.1 percent pricing at the landfills, with overall solid waste price increasing by 5.8 percent,” Casella chairman and CEO John Casella said.“Solid waste volumes were down 2.7 percent in the quarter, as we continued to focus on shedding unprofitable work, advancing pricing in excess of inflation and we began to experience early nega- tive volume impacts from COVID-19 as the shelter-in-place orders forced businesses to close and construction to come to a halt.” Overall solid waste pricing for the quarter was up 5.8 per- cent, driven by robust collection pricing, which was up 5.2 percent, and strong disposal pricing, up 7.7 percent, from the same period in 2019. Net income was $1 million for the quarter, up $2.7 million from the same period in 2019. Adjusted net income was $2.5 million for the quarter, up $3 million from the same period in 2019. Adjusted EBITDA was $33.5 million for the quarter, up $6.9 million, or up 25.9 percent, from the same period in 2019.
PSI offers the support and information you need to succeed in today’s marketplace. Advocacy • Standards Training • Networking Serving the paper recycling industry since 1962.
Give your company a competitive advantage: Join PSI today. paperstockindustries.org
4 May 25, 2020 Recycling Markets
www.nvpublications.com
Made with FlippingBook HTML5