Dive Brief:
- Casella Waste Systems, Inc., a solid waste and recycling services company, released the results for the first quarter of an eight-month transition period ending on December 31, 2014.
- For the quarter ending July 31, Casella's revenues were $141.4 million, a 10% increase from the same period one year ago.
- Operating income was $9.3 million for the quarter -- down from $9.7 million from the same quarter in 2013. Adjusted EBITA came in at $29.9 million, up $1.2 million.
Dive Insight:
Casella Waste CEO John W. Casella said this quarter's revenue growth was driven by greater volumes of disposal, an increase in solid waste hauling prices, several acquisitions, and an expansion of customer solutions.
In June 2014, Casella announced it would change the days it reported financial results. Casella noted extreme weather conditions prompted the firm to adjust its fiscal year calendar, which now ends on December 31 instead of April 30.