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Casella Waste Systems (CWST) Q4 FY2023 earnings: revenue $360 million, up 32.1% on the year

Casella Waste Systems Inc. (CWST) reported revenue of $360 million for Q4 FY2023, the quarter ended 31 December 2023, up 32.1% on the same quarter a year earlier. Net income was -$2 million, and diluted earnings per share $-0.03. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.

Revenue$360 millionup 32.1%
Net income-$2 million
Diluted EPS$-0.03
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue360353n/an/a
Cost of revenue239226n/an/a
Gross profit120126n/an/a
Gross margin33.5%35.8%n/a
Operating income13.434.2n/an/a
Operating margin3.7%9.7%n/a
Interest expense15.915.7n/an/a
Pre-tax income1.024.2n/an/a
Income tax2.86.0n/an/a
Effective tax rate274.5%24.9%n/a
Net income-1.818.2n/an/a
Net margin-0.5%5.2%n/a
Diluted EPS-$0.03$0.31n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow75.374.6n/an/a
Capital expenditure64.539.9n/an/a
Free cash flow10.734.7n/an/a
Free cash flow margin3.0%9.8%n/a
Cash from investing-68.5-340n/an/a
Cash from financing-7.721.4n/an/a
Depreciation and amortisation54.647.7n/an/a
Share-based compensation2.42.4n/an/a
Diluted shares, weighted55m58mn/an/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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity1,0221,031n/an/a
Debt1,0081,012n/an/a
Operating lease liabilities66.168.6n/an/a
Other liabilities440386n/an/a
Total liabilities and equity2,5352,498n/an/a
Fixed assetsn/a935n/an/a
Goodwill736737n/an/a
Intangible assets241257n/an/a
Cash and equivalents221219n/an/a
Receivables157140n/an/a
Other assets1,180209n/an/a
Total assets2,5352,498n/an/a

Questions

What was Casella Waste Systems' revenue in Q4 FY2023?

Casella Waste Systems (CWST) reported revenue of $360 million for Q4 FY2023, the quarter ended 31 December 2023, up 32.1% on the same quarter a year earlier.

How much did Casella Waste Systems earn in Q4 FY2023?

Net loss for Q4 FY2023 was $2 million, and the diluted loss per share $0.03.

When did Casella Waste Systems report Q4 FY2023 results?

Casella Waste Systems filed its 10-K for the year that ended with the quarter on 16 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue353360341377412427417465485469457544
Cost of revenue226239231244267286280308315313309365
Gross profit126120110133145142137157170156148179
Gross margin36%33%32%35%35%33%33%34%35%33%32%33%
Operating income34.213.46.823.024.418.53.119.329.411.94.920.0
Operating margin10%4%2%6%6%4%1%4%6%3%1%4%
Interest expense15.715.915.915.315.715.515.015.715.916.015.317.9
Pre-tax income24.21.0-5.910.810.45.7-8.16.915.9-1.6-8.83.4
Tax rate25%274%n/a35%45%15%n/a24%37%n/an/a-12%
Net income18.2-1.8-4.17.05.84.9-4.85.210.0-2.5-5.53.8
Net margin5%-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 flow74.675.37.772.191.811050.189.593.696.662.398.8
Capital expenditure39.964.530.344.651.576.955.566.465.957.350.072.3
Free cash flow34.710.7-22.627.540.432.9-5.423.127.639.312.326.5
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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-K for the period ended 31 December 2023, filed 16 February 2024, accession 0000911177-24-000005: the filing on EDGAR. All of Casella Waste Systems Inc.'s filings: EDGAR company page.

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