Waste management company Casella (NASDAQ:CWST) will be reporting results tomorrow after the bell. Here’s what you need to know.
Casella Waste Systems met analysts’ revenue expectations last quarter, reporting revenues of $411.6 million, up 16.7% year on year. It was a softer quarter for the company, with 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 16.2% year on year to $417.9 million, slowing from the 32.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 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.
Looking at Casella Waste Systems’s peers in the environmental and facilities services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Tetra Tech delivered year-on-year revenue growth of 17.9%, beating analysts’ expectations by 8.6%, and Veralto reported revenues up 4.4%, in line with consensus estimates. Tetra Tech traded down 2.9% following the results while Veralto was also down 5.2%.
Read our full analysis of Tetra Tech’s results here and Veralto’s results here.
There has been positive sentiment among investors in the environmental and facilities services segment, with share prices up 2.4% on average over the last month. Casella Waste Systems’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $115.18 (compared to the current share price of $108.44).
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