Casella Waste Systems (CWST) Q3 FY2023 earnings: revenue $353 million, up 19.5% on the year

Casella Waste Systems Inc. (CWST) reported revenue of $353 million for Q3 FY2023, the quarter ended 30 September 2023, up 19.5% on the same quarter a year earlier. Net income was $18 million, down 19.8% on the year, and diluted earnings per share $0.31. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$353 millionup 19.5%

Net income$18 milliondown 19.8%

Diluted EPS$0.31

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	353	n/a	n/a	n/a
Cost of revenue	226	n/a	n/a	n/a
Gross profit	126	n/a	n/a	n/a
Gross margin	35.8%	n/a	n/a
Operating income	34.2	n/a	n/a	n/a
Operating margin	9.7%	n/a	n/a
Interest expense	15.7	n/a	n/a	n/a
Pre-tax income	24.2	n/a	n/a	n/a
Income tax	6.0	n/a	n/a	n/a
Effective tax rate	24.9%	n/a	n/a
Net income	18.2	n/a	n/a	n/a
Net margin	5.2%	n/a	n/a
Diluted EPS	$0.31	n/a	n/a	n/a

$ million except per share.

Free 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 and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	74.6	n/a	n/a	n/a
Capital expenditure	39.9	n/a	n/a	n/a
Free cash flow	34.7	n/a	n/a	n/a
Free cash flow margin	9.8%	n/a	n/a
Cash from investing	-340	n/a	n/a	n/a
Cash from financing	21.4	n/a	n/a	n/a
Depreciation and amortisation	47.7	n/a	n/a	n/a
Share-based compensation	2.4	n/a	n/a	n/a
Diluted shares, weighted	58m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	1,031	n/a	n/a	n/a
Debt	1,012	n/a	n/a	n/a
Operating lease liabilities	68.6	n/a	n/a	n/a
Other liabilities	386	n/a	n/a	n/a
Total liabilities and equity	2,498	n/a	n/a	n/a
Fixed assets	935	n/a	n/a	n/a
Goodwill	737	n/a	n/a	n/a
Intangible assets	257	n/a	n/a	n/a
Cash and equivalents	219	n/a	n/a	n/a
Receivables	140	n/a	n/a	n/a
Other assets	209	n/a	n/a	n/a
Total assets	2,498	n/a	n/a	n/a

Questions

What was Casella Waste Systems' revenue in Q3 FY2023?

Casella Waste Systems (CWST) reported revenue of $353 million for Q3 FY2023, the quarter ended 30 September 2023, up 19.5% on the same quarter a year earlier.

How much did Casella Waste Systems earn in Q3 FY2023?

Net income for Q3 FY2023 was $18 million, down 19.8% on the year, and diluted earnings per share $0.31.

When did Casella Waste Systems report Q3 FY2023 results?

Casella Waste Systems filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 2 November 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	353	360	341	377	412	427	417	465	485	469	457	544
Cost of revenue	226	239	231	244	267	286	280	308	315	313	309	365
Gross profit	126	120	110	133	145	142	137	157	170	156	148	179
Gross margin	36%	33%	32%	35%	35%	33%	33%	34%	35%	33%	32%	33%
Operating income	34.2	13.4	6.8	23.0	24.4	18.5	3.1	19.3	29.4	11.9	4.9	20.0
Operating margin	10%	4%	2%	6%	6%	4%	1%	4%	6%	3%	1%	4%
Interest expense	15.7	15.9	15.9	15.3	15.7	15.5	15.0	15.7	15.9	16.0	15.3	17.9
Pre-tax income	24.2	1.0	-5.9	10.8	10.4	5.7	-8.1	6.9	15.9	-1.6	-8.8	3.4
Tax rate	25%	274%	n/a	35%	45%	15%	n/a	24%	37%	n/a	n/a	-12%
Net income	18.2	-1.8	-4.1	7.0	5.8	4.9	-4.8	5.2	10.0	-2.5	-5.5	3.8
Net margin	5%	-1%	-1%	2%	1%	1%	-1%	1%	2%	-1%	-1%	1%
Diluted EPS	$0.31	-$0.03	-$0.07	$0.12	$0.10	$0.08	-$0.08	$0.08	$0.16	-$0.04	-$0.09	$0.06
Operating cash flow	74.6	75.3	7.7	72.1	91.8	110	50.1	89.5	93.6	96.6	62.3	98.8
Capital expenditure	39.9	64.5	30.3	44.6	51.5	76.9	55.5	66.4	65.9	57.3	50.0	72.3
Free cash flow	34.7	10.7	-22.6	27.5	40.4	32.9	-5.4	23.1	27.6	39.3	12.3	26.5
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0000911177-23-000146: the filing on EDGAR. All of Casella Waste Systems Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install