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Casella Waste Systems, Inc. (NASDAQ:CWST), a waste management company with a market capitalization of $7.4 billion and impressive revenue growth of 21.6% in the last twelve months, held its annual stockholders meeting on Thursday, where key votes were cast on several proposals. The meeting took place in Rutland, Vermont, as detailed in the company’s recent SEC Form 8-K filing. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 1.96, indicating strong liquidity.
The stockholders elected three Class I directors to serve until the 2028 annual meeting. The elected directors are Michael K. Burke, Douglas R. Casella, and Gary Sova. The election results showed that Burke received 41,637,228 votes in favor, with 26,775,806 votes withheld. Casella garnered 64,769,332 votes in favor, with 3,643,702 votes withheld. Sova received 64,620,827 votes in favor, with 3,792,207 votes withheld. There were also 1,742,420 broker non-votes recorded for each nominee. The company’s strong governance comes alongside robust operational performance, with InvestingPro data showing net income growth expected this year and a solid five-year revenue CAGR of 16%.
In addition to the board elections, the stockholders approved an advisory "say-on-pay" vote concerning the compensation of the company’s named executive officers. The voting results for this proposal were 65,592,922 in favor, 2,742,173 against, and 77,939 abstentions, with 1,742,420 broker non-votes.
Furthermore, the appointment of RSM US LLP as the company’s independent auditors for the fiscal year ending December 31, 2025, was ratified. This proposal received 67,813,645 votes in favor, 2,292,361 against, and 49,448 abstentions.
The meeting confirmed that a quorum was present, with holders of shares representing 70,155,454 votes either in person or by proxy. This report is based on a press release statement from Casella Waste Systems filed with the Securities and Exchange Commission. For investors seeking deeper insights, InvestingPro offers 13 additional investment tips and a comprehensive Pro Research Report, providing detailed analysis of CWST’s financial health, valuation metrics, and growth prospects.
In other recent news, Casella Waste Systems reported a robust financial performance for the first quarter of 2025, with earnings per share (EPS) of $0.19, significantly surpassing the forecasted $0.03. The company’s revenue also exceeded expectations, reaching $417.1 million compared to the anticipated $404.02 million, marking a 22.3% increase year-over-year. Analysts at Jefferies noted that Casella’s revenue and EBITDA surpassed consensus estimates by approximately 3%, attributing the performance to strong pricing strategies and benefits from mergers and acquisitions. Jefferies increased its price target for Casella Waste Systems to $118, maintaining a Hold rating, while TD Cowen raised its target to $135, keeping a Buy rating. Both firms highlighted Casella’s strategic growth through acquisitions and its potential for future upside. Despite the positive earnings report, Casella’s stock experienced a slight decline, which some attribute to broader market conditions. The company reaffirmed its 2025 financial guidance and emphasized its active M&A pipeline, which exceeds $500 million in potential revenues. Analysts remain attentive to Casella’s ability to maintain its growth trajectory and manage operational challenges, such as recent landfill volume issues.
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