Free 7-day Trial
All Articles and Columns »

Casella Waste Systems Inc. Reports Operating Results (10-Q)

December 02, 2010 | About:
10qk

10qk

18 followers
Casella Waste Systems Inc. (CWST) filed Quarterly Report for the period ended 2010-10-31.

Casella Waste Systems Inc. has a market cap of $116.4 million; its shares were traded at around $4.45 with and P/S ratio of 0.3. Casella Waste Systems Inc. had an annual average earning growth of 8% over the past 5 years.CWST is in the portfolios of Mario Gabelli of GAMCO Investors, Jim Simons of Renaissance Technologies LLC.
This is the annual revenues and earnings per share of CWST over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CWST.


Highlight of Business Operations:

As of November 30, 2010, we owned and/or operated 31 solid waste collection operations, 30 transfer stations, 34 recycling facilities, eight Subtitle D landfills, one landfill permitted to accept construction and demolition materials, and one waste-to-energy facility. In addition, we hold a 50% interest in US Green Fiber, LLC (“GreenFiber”), a joint venture that manufactures, markets and sells cellulose insulation made from recycled fiber. We also hold a 10.6% interest in RecycleRewards, Inc. (“RecycleRewards”), a company that markets an incentive based recycling service, and a 19.9% interest in Evergreen National Indemnity Company (“Evergreen”), a surety company which provides surety bonds to secure contractual performance for municipal solid waste collection contracts and landfill closure and post-closure obligations.

For the three months ended October 31, 2010, we reported revenues of $141.0 million, an increase of $7.9 million, or 5.9%, from $133.1 million for the three months ended October 31, 2009. As a percentage of solid waste revenues, solid waste revenues increased 2.9%, with higher disposal, power generation and

processing and recycling volumes accounting for 10.1% of the increase, 1.0% from higher commodity price and volumes, 0.1% increase from increased fuel surcharges along with a 0.5% increase from an acquisition in the Eastern region. These increases were partially offset by a 1.4% volume decline in collection, 1.3% price decline in power generation, 2.0% decline related to a divestiture in the Eastern region, and a 4.1% decline from the closure of a landfill. As a percentage of major accounts revenues, major accounts revenues increased 4.6% with volume representing 4.2% of the increase and 0.4% resulting from higher price. As a percentage of total FCR recycling revenues, FCR revenues increased 20.4%, with 14.6% coming from higher commodity prices and 5.8% from higher volumes.

Operating income for the three months ended October 31, 2010 was $13.8 million compared to $13.7 million in the prior year comparable period and decreased between years as a percentage of revenue to 9.8% from 10.3%. Western region operating income increased $2.9 million compared to the prior year period primarily due to higher disposal revenues associated with higher volume. Eastern region operating income decreased $1.4 million compared to the prior year period primarily due to lower power revenue at Maine Energy associated with lower market rates for power. FCR recycling operating income decreased by $0.9 million compared to the prior year period due primarily to higher labor and maintenance costs.

Read the The complete Report

About the author:

10qk
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 3.6/5 (5 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Hide