Casella Waste Sys Up 2.73% To $82.02 After Earnings Beat

Casella Waste Systems Inc. (CWST) surpassed earnings projections on 7/28/2022 for Q2 2022.

Wall Street earnings per share (EPS) projections for Casella Waste Sys were at $0.28. The company beat those estimates with an EPS of $0.36. The earnings per share of $0.36 (which represents a -29% EPS surprise) led to the company's profits rising 44% compared to last year when the firm reported an EPS of $0.25. The increase in Casella Waste Sys's annual growth rate represents how the business is performing well amid recent economic conditions.

Consensus estimates for Casella Waste Sys revenue averaged out to $251.6 million, with the business managing to beat those expectations with reported second-quarter revenue of $283.7 million. The $32 million (13%) positive revenue surprise led to 31% growth year-over-year as the firm reported revenue of $215.9 million in its year-ago quarter. The higher earnings growth compared to revenue points to Casella Waste Sys improving its profit margin.

The stock is up 2.73% to $82.02 after the report.

Casella Waste Sys's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 58. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Casella Waste Systems Inc is a solid waste removal company, providing resource management services to residential, commercial, municipal, and industrial customers in the Northeastern United States. The company's reportable segments on Geographical basis include Eastern and Western regions as well as Resource solution segment. It generates maximum revenue from the Western region segment. The company services include Recycling, Collection, Organics, Energy, Landfills, Special Waste as well as Professional Services.