Dive Brief:
- Casella Waste Systems Inc. has reported its revenue for fiscal year 2014, ending April 30, at $497.6 million. Revenue grew for the fourth quarter by $10.2 million, rising 9.4% from the same time period one year ago. Annual growth reached $42.3 million, or 9.3% higher than the prior year.
- Adjusted EBITDA was $19 million for the fourth quarter, which fell $0.4 million from the same time period in 2013. Fiscal year adjusted EBITDA was recorded at $95.1 million, for a positive gain of $7.3 million compared to the same time period one year ago.
- Operating loss was $6 million in the fourth quarter, compared with $2.1 million for the same period in 2013.
Dive Insight:
Casella Waste will alter the days it reports its financials. Chairman and CEO John W. Casella said that harsh weather conditions compelled the company to adjust its fiscal year calendar to end on December 31 as opposed to April 30. The company will end an eight-month report on December 31, 2014, to be followed by full-year financials ending on December 31, 2015.