Casella Waste Systems Inc – Best Waste Management Stocks
Higher construction activity leads to higher volumes of debris and other construction waste. Such debris needs to be handled by a waste management company and properly recycled or disposed of. As interest rates have fallen to long-term lows, buying a home with a mortgage has rarely been cheaper. Add to that the fact that people are spending more time at home and hence are looking for a larger home away from urban centers, what you get is a strong uptick in construction activity. Companies like Casella Waste Systems cater to construction businesses. In fact, Casella is a major operator of landfills and other recycling facilities in the northeastern part of the US. If you are looking to buy best waste management stocks, then such companies could make a lot of sense.
Casella Waste Systems Earnings Release
On 29th July 2021, Casella Waste Systems announced its second-quarter 2021 earnings numbers. Revenues were up from $188 million in Q22020 to $215 million in Q22021. Operating income was also up year-on-year from $17.4 million to $21.9 million. Higher income taxes, however, meant that the net income for the quarter was $11.7 million as compared to a higher number of $12.1 million achieved in Q22020. Earnings per share on a diluted basis also followed a similar trend with a drop from $0.25 in Q22020 to $0.23 in Q22021. The company management shared that solid waste volumes were up 7.1% year on year. If you are an investor in search of the best waste management stocks, then Casella Waste Systems is a growing business.
Casella Waste Systems offers a complete range of solid waste services in the geographies where it operates. It mainly charges its customers a fee for the collection and disposal of solid waste. In 2020, Casella Waste Systems acquired ten businesses as part of its growth strategy. Most of these businesses included waste collection businesses. One business was a recycling operation.