Sean Steves, the Senior Vice President and Chief Operating Officer of Solid Waste Operations at Casella Waste (NASDAQ:CWST) Systems Inc. (NASDAQ:CWST), recently sold 1,418 shares of the company. The transaction, which took place on November 12, 2024, was executed at a price of $108.27 per share, amounting to a total value of $153,526. Following this sale, Steves retains ownership of 5,802 shares in the company. Casella Waste Systems, based in Rutland, Vermont, operates within the refuse systems industry.
In other recent news, Casella Waste Systems, a regional solid waste, recycling, and resource management services company, reported its third-quarter earnings for 2024. The company announced a 16.7% year-over-year revenue increase to $411.6 million, partly due to the acquisition of Royal and organic growth. Despite lower landfill volumes and increased expenses, adjusted EBITDA also saw a 14.9% increase, reaching $102.9 million. However, adjusted net income decreased to $15.9 million due to the aforementioned challenges.
Further, Casella raised over $500 million in financing for future Mergers and Acquisitions (M&A) activities. The company remains optimistic about 2025, anticipating growth in EBITDA and free cash flow. Casella expects 12% to 15% growth in adjusted EBITDA and 10% to 15% growth in free cash flow for 2025, assuming no further acquisitions. The company is focusing on smaller acquisitions while prioritizing recent integration efforts. These are some of the recent developments in Casella Waste Systems.
InvestingPro Insights
As Sean Steves reduces his stake in Casella Waste Systems Inc. (NASDAQ:CWST), investors may find additional context in the company's recent performance and valuation metrics. According to InvestingPro data, CWST has demonstrated strong growth, with revenue increasing by 26.53% over the last twelve months to $1.49 billion. This robust top-line expansion aligns with an InvestingPro Tip indicating that analysts anticipate continued sales growth in the current year.
The company's stock is trading near its 52-week high, with a price-to-earnings ratio of 237.05, suggesting a premium valuation. This high multiple is consistent with another InvestingPro Tip highlighting that CWST is trading at elevated EBIT and EBITDA valuation multiples. Despite the lofty valuation, the company's financial health appears solid, with liquid assets exceeding short-term obligations and operations maintained with a moderate level of debt.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips on Casella Waste Systems, providing deeper insights into the company's financial position and market performance. These tips could be particularly valuable in understanding the implications of insider transactions like Steves' recent sale.
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