Casella reports growth in Q3

Casella Waste Systems Inc. reported a 17.9 percent gain in revenue, 20.5 percent gain in operating income and a 73 percent gain in net income during the third quarter of 2025.

The Rutland, Vermont-based waste management company posted $485.4 million in revenue for the third quarter compared with $411.7 million in 2024. Casella attributed the growth to be driven mainly by the rollover impact from acquisitions, including deals closed in prior periods. It also attributed sustained collection and disposal price growth and strong national accounts growth in its resource solutions segment.

Operating income was reported at $29.4 million compared with $24.9 million for the same quarter in 2024, this included the Southbridge Landfill closure charge, which did not recur in the third quarter of 2025.

Net income increased to $10 million for the third quarter compared to $5.8 million from the same period of 2024.

The company also reported gains in revenue and net income for the nine-month period ending Sept. 30, reaching $1.37 billion and $10.4 million, respectively, while operating income dipped slightly to $51.8 million.

“I’m extremely proud of the team for once again overcoming challenges and demonstrating the strength of our operating model and our strategic execution,” CEO John W. Casella said on the firm’s Oct. 31 third-quarter earnings call.

He added that revenue for the quarter was a record driven by continued solid waste pricing, strength, healthy landfill volumes and meaningful contributions from the firm’s acquisition program.

Casella said the firm has completed eight acquisitions so far in 2025, adding about $105 million in annualized revenue. He provided an update on the company’s Mountain State Waste transaction, projecting it to close at the beginning of 2026 and will contribute about $30 million of annualized revenues.

President Edmond Coletta, who will become CEO at the end of the year when Casella moves into the executive chairman role, said on the call that the firm has four smaller acquisitions under letter of intent projected to close in the fourth quarter or early 2026 that will total roughly $20 million of annualized revenues.

Coletta added that on the permitting front, Casella has made solid progress with its expansion efforts at its Hakes and Highland landfills in New York, with permits expected during the next several quarters. Casella intends to more than double the annual permit at Highland from 460,000 tons per year to 1 million tons per year. It also intends to add close to 60 years of capacity at current run rates at its Higgs landfill.

“Our early view of 2026 is positive with sustained pricing strength, the rollover acquisition growth and cost savings initiatives positioning us for another strong year of cash flow growth,” Coletta said.