Dive Brief:
- Casella Waste Systems, Inc., reported Q1 revenue up 3% from the same period last year. Revenue was $116.6 million, an increase of $3.4 million.
- Demand for commercial and residential collection drove prices up 2.8% for these services. Overall solid waste pricing increased by 1.6%. It reported less of a net loss this quarter, at $7.96 million, compared to the same quarter last year.
- The report on earnings for the regional solid waste, recycling and resource management services company was upbeat. "Our efforts to drive pricing in the collection and disposal lines of business continued to gain traction through the first quarter," said John Casella, CEO of Casella Waste Systems.
Dive Insight:
In March, Casella said problems with the firm’s recycling business had resulted in some losses, but that the firm was working to fix the situation.
"We have taken action to begin to reshape our recycling business model through increased tipping fees at our recycling facilities and pricing increases to our collection customers to reflect the dramatically lower recycling commodity values," Casella said in March. It seems those actions already are paying off for the company.