Waste management company Casella (NASDAQ: CWST) will be reporting results this Thursday afternoon. Here’s what investors should know.
Casella Waste Systems beat analysts’ revenue expectations last quarter, reporting revenues of $457.3 million, up 9.6% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a miss of analysts’ EBITDA estimates.
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 12.9% year on year, slowing from the 23.4% 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 Q2 results, giving us a hint as to what we can expect. Clean Harbors delivered year-on-year revenue growth of 11.9%, beating analysts’ expectations by 6.1%, and Waste Connections reported revenues up 6.4%, topping estimates by 0.9%. Clean Harbors traded up 4.4% following the results while Waste Connections’s stock price was unchanged.
Read our full analysis of Clean Harbors’s results here and Waste Connections’s results here.
Investors in the waste management segment have had steady hands going into earnings, with share prices flat over the last month. Casella Waste Systems is down 4.9% during the same time and is heading into earnings with an average analyst price target of $111.40 (compared to the current share price of $91.51).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
