Casella Waste Systems, Inc. (CWST) Earnings
Casella Waste Systems, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.27. CWST has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +44.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $0.10 | $0.20 | +100.0% | $457M | +0.6% |
| Feb 19, 2026 | $0.22 | $0.30 | +36.4% | $469M | +2.1% |
| Oct 30, 2025 | $0.33 | $0.42 | +25.9% | $485M | +1.8% |
| Jul 31, 2025 | $0.31 | $0.36 | +16.1% | $465M | -1.2% |
| May 1, 2025 | $0.11 | $0.19 | +72.7% | $417M | +3.4% |
| Feb 12, 2025 | $0.16 | $0.41 | +156.2% | $427M | +1.9% |
| Oct 30, 2024 | $0.28 | $0.27 | -3.6% | $412M | -1.6% |
| Aug 1, 2024 | $0.28 | $0.22 | -21.4% | $377M | +0.9% |
| Apr 25, 2024 | $-0.01 | $-0.01 | -48.4% | $341M | -9.1% |
| Feb 15, 2024 | $0.18 | $0.13 | -27.8% | $360M | -0.1% |
| Nov 1, 2023 | $0.39 | $0.35 | -10.3% | $353M | -2.2% |
| Jul 27, 2023 | $0.37 | $0.36 | -2.7% | $290M | -4.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Team executed well across business, delivering solid financial results and margin expansion exceeding budget. - Disciplined pricing, core operations, and acquisitions positioned business. - Fuel recovery program offset fuel cost increase. - Safety initiatives advanced, TRIR improved 20% year over year. - Made progress in Mid-Atlantic integration, migrating customers to new system. - On track to cut $5 million of operating costs in 2026 and $10 million over next two years. - Investing in customer platforms for improved experience, including new payment portal and planned app rollout. - Focused on reducing G&A costs with $15 million in savings over three years. - Made permitting progress on landfill expansions. - Completed four acquisitions in 2026, adding ~$150 million of annualized revenues.
Guidance
Updated financial guidance for 2026: revenue range $2.06 to $2.08 billion (increase of $90 million), adjusted EBITDA range $473 to $483 million (increase of $18 million), adjusted free cash flow range $200 to $210 million (increase of $5 million). Guidance assumes adjusted EBITDA margins of ~20% and adjusted free cash flow with typical conversion from EBITDA.
Segment performance
Revenues for the quarter were $457.3 million, up 9.6% year over year. Solid waste revenues were up 10% year over year, with price up 5.1% and volume down 2.5%. Landfill volumes overall were up 2.3% in the quarter. Resource solutions revenues were up 8% year-over-year, with recycling and other processing revenue down 2.7% impacted by lower commodity prices, and national accounts up 20.7%. Adjusted EBITDA increased 12.3% year-over-year, and margin expanded by 50 basis points. Adjusted net income was $12.8 million in the quarter, up $.6 million and one cent per share. Net cash provided by operating activities was $62.3 million, up 24% year-over-year. Adjusted free cash flow was $30.7 million, up 5% year over year.
Analyst Q&A
Q: Adam Rubes of Goldman Sachs asked about cost reduction, margin expansion, closure of Ontario landfill, and landfill gas program.
A: Brad and Ned responded.
Q: Trevor Romero of William Blair asked about Star Waste's margin profile, integration, synergy opportunities, and national accounts.
A: Brad and Ned answered.
Q: Tyler Brown of Raymond James asked about landfill price acceleration, OnStar, Q2 margins, and ash landfill closure.
A: Ned and Brad replied.
Q: Jim Shum of TD Calendly asked about Northeast supply demand, landfill pricing, and Mid-Atlantic collection margins.
A: Ned and Brad answered.
Q: Tammy of JP Morgan asked about CPI impact on pricing.
A: Ned and Brad responded.
Q: Slow Mo Regenbaum of the Sawyer Lines asked about landfill pricing turnaround, rail impact, and rail vs transfer station costs.
A: Ned answered.
Q: Harold Anter of Jefferies asked about pricing, churn, and tech investment.
A: Brad answered.
Q: William Griffin asked about balancing leverage and M&A following Star Waste acquisition.
A: Ned answered.