Casella Waste Systems, Inc. reported a significant increase in financial performance for the fiscal year ended December 31, 2025, with total revenues reaching $1.84 billion, a 17.9% increase from $1.56 billion in the previous fiscal year. The company's operating income, however, decreased to $63.7 million from $72.8 million, reflecting rising operational costs and expenses associated with acquisitions. Net income for the year was $7.9 million, down from $13.5 million in 2024, primarily due to increased costs in operations and general administration, as well as higher depreciation and amortization expenses.
The company made notable strategic advancements, completing nine acquisitions in fiscal year 2025, which contributed approximately $198.1 million to revenue growth. This included the acquisition of RGL, Inc. (dba Mountain State Waste) in January 2026, which expanded Casella's operations into West Virginia. The acquisitions were aimed at densifying existing operations and enhancing service offerings, particularly in the Mid-Atlantic region. As of January 31, 2026, Casella employed approximately 5,600 individuals, reflecting growth in workforce due to these acquisitions.
Operationally, Casella's solid waste collection pricing increased by 5.0%, helping to offset inflationary pressures. However, collection volumes decreased slightly, impacting overall revenue from solid waste operations. The company reported a total of $1.48 billion in solid waste revenues, with collection services contributing $1.20 billion and disposal services $263 million. The Resource Solutions segment also saw growth, with revenues increasing to $359.9 million, driven by a 6.6% increase in National Accounts volumes.
The filing indicated that Casella is focused on optimizing long-term disposal capacity amid tightening market conditions in the Northeast. The company is actively pursuing additional landfill capacity and has made progress in permitting activities at select sites. Looking ahead, Casella anticipates continued growth through strategic acquisitions and operational efficiencies, while managing the challenges posed by inflation and regulatory changes in the waste management industry. The company maintains a consolidated net leverage ratio of 2.34x, indicating a stable financial position to support its growth initiatives.
About CASELLA WASTE SYSTEMS INC
Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company operating primarily in the Northeastern U.S. It provides comprehensive waste collection, transfer, disposal, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers. Casella’s business model emphasizes sustainable resource management, leveraging landfill operations, materials processing, and customized resource solutions to deliver environmental and economic value across multiple regional markets.
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