Casella Waste Systems Earnings: Here’s Why Shares are Down Now
Casella Waste Systems Inc. (NASDAQ:CWST) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.59%.
Casella Waste Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.00 in the quarter versus EPS of $-0.31 in the year-earlier quarter.
Revenue: Rose 6.11% to $128.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Casella Waste Systems Inc. reported adjusted EPS of $0 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It beat the average revenue estimate of $121.72 million.
Quoting Management: “We had a solid first quarter, with results primarily driven by continued execution in key areas of management focus – sourcing incremental landfill volumes; improving collection route profitability; and completing the multi-year Eastern region strategy,” said John W. Casella, chairman and CEO of Casella Waste Systems.
Key Stats (on next page)…
Revenue increased 30.16% from $98.8 million in the previous quarter. EPS increased to $0.00 in the quarter versus EPS of $-0.22 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.03 and has not changed. For the current year, the average estimate has moved down from a loss of $0.19 to a loss of $0.38 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)