Casella Waste Systems(NASDAQ) CWST

Casella helps people and businesses get rid of trash and recycling in the northeastern United States. They pick up waste from homes and offices and take it to specialized centers to be sorted or buried. This work keeps neighborhoods clean and turns old materials like cardboard into new products.

What Casella Does With Waste

• Solid Waste Operations: Collection, transfer, and disposal services across Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine, Pennsylvania, Delaware, New Jersey, Maryland, and West Virginia.
• Resource Solutions: Large-scale recycling, organics processing, and resource management for industrial and municipal customers; includes professional brokerage and sustainability consulting.
• Landfill Services: Operation of eight Subtitle D landfills—facilities designed to safely hold non-hazardous waste—and one site for construction materials.
• Energy Generation: Capturing gas from landfills to create electricity and renewable natural gas through specialized onsite plants.

Growing the Footprint

• Acquired RGL, Inc. (doing business as Mountain State Waste) on January 1, 2026, to move operations into West Virginia.
• Closed nine acquisitions during 2025 to increase business density in the Mid-Atlantic region.
• Purchased four subsidiaries from GFL Environmental Inc. in 2023 to enter the Pennsylvania, Delaware, and Maryland markets.
• Expanded rail-served disposal capacity at the McKean Landfill in Pennsylvania during 2025 to serve more customers in the Northeast.

Why Casella Stands Out

Casella controls the entire waste cycle by owning the trucks that pick up trash, the stations that transfer it, and the landfills where it is buried. This vertical integration helps them manage costs and find the most efficient ways to recycle or dispose of materials.

The Recent Financial Record

• Revenue reached $469 million in Q4 2025, up 9.7% from the same period in 2024.
• Free cash flow—the money left after paying for operations and equipment—rose to $39 million in Q4 2025, a 19.5% increase year-over-year.
• Operating income was $20.8 million in Q4 2025, down 10.7% from $23.3 million in Q4 2024.
• Net loss for Q4 2025 was $2.5 million, compared to a net income of $4.9 million in Q4 2024.

Bottom Line

Casella has transformed from a local Vermont trash hauler into a major regional waste and recycling player through aggressive acquisitions. The company continues to focus on integrating new businesses and expanding its recycling technology to manage the waste needs of the Northeast.