Waste management company Casella (NASDAQ: CWST) will be reporting earnings this Monday after market close. Here’s what to look for.
Casella Waste Systems beat analysts’ revenue expectations last quarter, reporting revenues of $543.7 million, up 16.9% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is Casella Waste Systems a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Casella Waste Systems’s revenue to grow 16.1% year on year, slowing from the 17.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Casella Waste Systems has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Casella Waste Systems’s peers in the waste management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Perma-Fix delivered year-on-year revenue growth of 2.8%, beating analysts’ expectations by 20.5%, and Clean Harbors reported revenues up 20.7%, topping estimates by 8.3%. Perma-Fix traded up 9.7% following the results while Clean Harbors was down 1.1%.
Read our full analysis of Perma-Fix’s results here and Clean Harbors’s results here.
Investors in the waste management segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. Casella Waste Systems is up 17.2% during the same time and is heading into earnings with an average analyst price target of $106.50 (compared to the current share price of $98.22).
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