Casella Waste Systems Delivers Strong Q4 Results, Sets Sights on 2025 Growth Opportunities
Casella Waste Systems, Inc. recently reported its fourth quarter and full year 2024 results, which marked another successful year for the company. Chairman and Chief Executive Officer John Casella expressed pride in the organization's accomplishments, highlighting the execution and growth achieved thus far.
The company closed eight acquisitions in 2024, with over $200 million in annualized revenues, and is off to a fast start in 2025 with three acquisitions closing to date with approximately $40 million in annualized revenues. This consistent pace of expansion has enabled the company to grow its employee base to more than 5,000 people across ten states and welcome hundreds of thousands of new customers.
Casella's focus on core competencies and disciplined growth strategy have yielded impressive results, with revenue, adjusted EBITDA, and adjusted free cash flow all growing by over 20% in 2024. This marks the third consecutive year of adjusted EBITDA growth exceeding 20%, underscoring the company's commitment to integration and pricing/operating programs.
The company's landfills have maintained an excellent in-market position, despite C&D and special volumes being down in 2024 due to external factors. However, management is optimistic about experiencing modest volume growth in 2025 as these pressures ease. The McKean rail landfill, which has gone online, presents a long-term opportunity for meeting customer disposal needs and potentially partnering with third parties seeking capacity.
Internalizing tonnages has been a key focus area for Casella, and this will continue to be a priority in 2025. In the collection business, adjusted EBITDA margin expansion of over 100 basis points was achieved in the base business, driven by synergy opportunities from Sean Steves and his team.
The company's Chairman and Chief Executive Officer, John Casella, expressed enthusiasm about the year ahead, highlighting tremendous opportunities to drive value. With a strong balance sheet, management is poised to put capital to work through strategic acquisitions that align with the company's growth strategy.
