Casella Waste Systems (CWST) FY2019 results: revenue $743 million, up 12.5% on the year
Casella Waste Systems Inc. (CWST) reported revenue of $743 million for fiscal 2019, the year ended 31 December 2019, up 12.5% on the year before. Net income was $32 million, up 393.0%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$743 million
+12.5% on the year
FY2015FY2019
Operating margin
7.1%
6.0% a year earlier
FY2015FY2019
Net income
$32 million
+393.0% on the year
FY2015FY2019
Diluted EPS
$0.66
+340.0% on the year
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
743
661
599
+12.5%
Cost of revenue
509
453
405
+12.2%
Gross profit
235
207
194
+13.1%
Gross margin
31.6%
31.4%
32.4%
Operating income
53.1
39.7
-12.6
+33.6%
Operating margin
7.1%
6.0%
-2.1%
Interest expense
25.1
26.3
25.2
-4.5%
Pre-tax income
29.8
6.0
-37.1
+393.4%
Income tax
-1.9
-0.4
-15.3
Effective tax rate
-6.3%
-6.4%
n/a
Net income
31.7
6.4
-21.8
+393.0%
Net margin
4.3%
1.0%
-3.6%
Diluted EPS
$0.66
$0.15
-$0.52
+340.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
117
121
108
-3.3%
Capital expenditure
103
73.2
64.9
+40.9%
Free cash flow
13.7
47.6
42.7
-71.3%
Free cash flow margin
1.8%
7.2%
7.1%
Cash from investing
-177
-164
-76.4
Cash from financing
60.1
45.4
-31.6
+32.4%
Depreciation and amortisation
79.8
70.5
62.1
+13.2%
Share-based compensation
7.2
8.4
6.4
-14.5%
Diluted shares, weighted
48m
44m
42m
+8.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
123
-15.8
-37.9
Non-controlling interest
n/a
n/a
0.0
Debt
513
542
483
-5.3%
Operating lease liabilities
70.7
n/a
n/a
Other liabilities
225
206
170
+9.3%
Total liabilities and equity
932
732
615
+27.3%
Fixed assets
444
405
362
+9.7%
Goodwill
186
163
123
+14.2%
Intangible assets
58.7
34.8
8.1
+68.9%
Cash and equivalents
3.5
4.0
2.0
-13.4%
Receivables
80.2
74.9
66.0
+7.0%
Other assets
160
51.4
54.7
+211.6%
Total assets
932
732
615
+27.3%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.