Waste management company Casella (NASDAQ:CWST) will be reporting results tomorrow afternoon. Here’s what to expect.
Casella Waste Systems beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $427.5 million, up 18.9% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.
Is Casella Waste Systems a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Casella Waste Systems’s revenue to grow 18.6% year on year to $404.6 million, slowing from the 29.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Casella Waste Systems has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Casella Waste Systems’s peers in the waste management segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Waste Connections delivered year-on-year revenue growth of 7.5%, meeting analysts’ expectations, and Republic Services reported revenues up 3.8%, falling short of estimates by 0.9%. Waste Connections’s stock price was unchanged after the resultswhile Republic Services was up 1.3%.
Read our full analysis of Waste Connections’s results here and Republic Services’s results here.
Investors in the waste management segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Casella Waste Systems is up 4% during the same time and is heading into earnings with an average analyst price target of $119.29 (compared to the current share price of $117.20).
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