Casella(US:CWST)2025-02-12 21:22Revenue Performance - Revenues for Q4 2024 were $427.5 million, an increase of $67.9 million or 18.9% compared to Q4 2023[4] - For fiscal year 2024, total revenues reached $1.557 billion, up $292.7 million or 23.1% from fiscal year 2023[8] - Revenues for the three months ended December 31, 2024, increased to $427.5 million, up 18.9% from $359.6 million in the same period of 2023[23] - Total revenues for the three months ended December 31, 2024, were $514.771 million, compared to $437.066 million for the same period in 2023, representing a year-over-year increase of 17.7%[41] - For the twelve months ended December 31, 2024, total revenues reached $1.886 billion, up from $1.546 billion in 2023, marking a growth of 22%[41] EBITDA and Income - Adjusted EBITDA for Q4 2024 was $95.0 million, reflecting a growth of $12.8 million or 15.6% year-over-year[7] - Adjusted EBITDA for fiscal year 2024 was $360.6 million, an increase of $66.0 million or 22.4% from fiscal year 2023[11] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $360.6 million, representing an increase of 22.4% from $294.6 million in 2023[30] - Net income for fiscal year 2024 was $13.5 million, down 46.7% from fiscal year 2023, while Adjusted Net Income was $80.7 million, up 8.7% year-over-year[10] - Net income for the three months ended December 31, 2024, was $4.9 million, compared to a net loss of $1.8 million in the same period of 2023[23] - Net income for the three months ended December 31, 2024, was $4.876 million, compared to a loss of $1.811 million in the same period of 2023, while the twelve months ended December 31, 2024, reported a net income of $13.536 million, down from $25.399 million in 2023[31] Cash Flow and Operating Activities - Net cash provided by operating activities for fiscal year 2024 was $281.4 million, up $48.3 million or 20.7% from fiscal year 2023[11] - Net cash provided by operating activities for the three months ended December 31, 2024, was $109.761 million, an increase from $75.267 million in 2023, and for the twelve months, it rose to $281.355 million from $233.092 million[34] - Adjusted Free Cash Flow for fiscal year 2024 was $158.3 million, an increase of $30.0 million or 23.4% from fiscal year 2023[11] - Adjusted Free Cash Flow for the three months ended December 31, 2024, was $59.555 million, compared to $33.991 million in 2023, and for the twelve months, it increased to $158.309 million from $128.299 million[34] Acquisitions and Growth - The company acquired eight businesses in fiscal year 2024 with over $200 million in annualized revenues and three businesses in fiscal year 2025 year-to-date with approximately $40 million in annualized revenues[3] - The company incurred $468.6 million in acquisitions during the twelve months ended December 31, 2024, compared to $851.8 million in 2023[28] - Acquisition-related expenses for the twelve months ended December 31, 2024, totaled $24.879 million, up from $15.038 million in 2023[31] - Solid waste operations contributed $60.370 million to revenue growth in Q4 2024, accounting for 21.4% of the related business growth[43] - Acquisitions accounted for $50.128 million, or 17.8% of the total solid waste operations revenue growth in Q4 2024[43] Capital Expenditures - The company incurred capital expenditures of $76.866 million for the three months ended December 31, 2024, compared to $64.543 million in 2023[34] - Growth capital expenditures for Q4 2024 were $29.382 million, up from $21.010 million in Q4 2023, indicating a 39.5% increase[45] - Replacement capital expenditures for the twelve months ended December 31, 2024, were $135.177 million, compared to $113.422 million in 2023, showing a growth of 19.2%[45] Future Projections - The company anticipates fiscal year 2025 revenues between $1.775 billion and $1.805 billion, with Adjusted EBITDA expected between $410 million and $425 million[13] - The company expects Adjusted EBITDA for the fiscal year 2025 to be between $410 million and $425 million, with net income estimated between $10 million and $25 million[38] - Estimated net cash provided by operating activities for fiscal year 2025 is projected to be between $320 million and $335 million, with capital expenditures expected to be $215 million[38] Assets and Liabilities - Total assets as of December 31, 2024, reached $3.23 billion, up from $2.54 billion in 2023, reflecting a growth of 27.4%[25] - Cash, cash equivalents, and restricted cash increased to $383.3 million as of December 31, 2024, compared to $220.9 million at the end of 2023[28] - Total current liabilities increased to $307.3 million as of December 31, 2024, from $278.9 million in 2023, marking a rise of 10.2%[25] Earnings Per Share - The company reported a basic earnings per share of $0.08 for the three months ended December 31, 2024, compared to a loss of $0.03 per share in the same period of 2023[23] - Adjusted Diluted Earnings Per Common Share for the three months ended December 31, 2024, was $0.41, up from $0.29 in 2023, while for the twelve months, it was $1.35 compared to $1.34 in 2023[31]