Casella Waste Systems Reports 23.4% Revenue Growth in Q2 2025

Casella Waste Systems, Inc. reported significant financial results for the second quarter of 2025, with revenues reaching $465.3 million, a 23.4% increase from $377.2 million in the same period last year. For the first half of 2025, total revenues amounted to $882.4 million, up from $718.2 million in the prior year, reflecting a 22.5% growth. The company’s operating income for the quarter was $19.3 million, down from $23.0 million a year earlier, while net income decreased to $5.2 million from $7.0 million in the same quarter of 2024. Basic earnings per share were $0.08, compared to $0.12 in the previous year.

The financial performance was influenced by several factors, including a notable increase in solid waste revenues driven by acquisitions and higher pricing. The company completed six acquisitions in the first half of 2025, contributing approximately $66.1 million to solid waste revenues in the second quarter alone. However, the company faced challenges with rising operational costs, particularly in direct labor and operational expenses, which increased due to inflation and the integration of acquired businesses. Total operating expenses for the quarter were $446.1 million, compared to $354.1 million in the prior year.

Operationally, Casella Waste Systems expanded its service offerings and geographic footprint, managing solid waste operations across ten states. The company reported a total of 79 solid waste collection operations, 70 transfer stations, and 31 recycling facilities as of mid-2025. The company’s customer base and engagement metrics also showed growth, with increased revenues from both residential and commercial sectors. However, the company noted a slight decline in collection volumes, which was offset by higher disposal volumes at landfills.

In terms of liquidity, Casella Waste Systems had $217.8 million in cash and cash equivalents as of June 30, 2025, down from $383.3 million at the end of 2024. The company also reported a decrease in current liabilities, which fell to $273.4 million from $307.3 million. The company’s debt, less current portions, stood at $1.1 billion, reflecting a slight increase from $1.09 billion at the end of 2024. The company remains in compliance with its financial covenants and has significant available capacity under its revolving credit facility.

Looking ahead, Casella Waste Systems expressed optimism about its growth trajectory, driven by ongoing acquisitions and operational efficiencies. The company anticipates that its strategic initiatives will continue to enhance its market position and financial performance, despite the challenges posed by inflation and rising operational costs. The management remains focused on leveraging its integrated service model to capture additional market share and improve profitability in the coming quarters.