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Companies · CWST

CWST Reported this cycle

Casella Waste Systems

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Latest analysis

Updated Oct 1, 2026

NCES landfill closure accelerated to Dec 31, 2026; Q4 amortization higher but immaterial.

Casella accelerated the closure of its North Country Environmental Services landfill in Bethlehem, New Hampshire from end-of-2027 to December 31, 2026, driven by revised assessment of permitted airspace and fill rates. The company expects elevated landfill amortization expense in Q4 2026 but characterizes the impact as immaterial to full-year 2026 results. This marks a material change to previously disclosed landfill life and signals tighter capacity constraints than previously communicated.

Tone: cautious

Revenue

$1.8B

CWST 10-K · FY 2025

Employees

5,600

Revenue FY2024

$1.6B

Headquarters

Rutland, VT

Profile

CWST 10-K Item 1 · Feb 20, 2026

Casella Waste Systems is a regional, vertically integrated solid waste services company operating across eleven northeastern and mid-Atlantic states. It provides collection, disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers. The company organizes its operations through three geographic solid waste segments and a Resource Solutions segment focused on recycling, organics, and resource management.

Read filing description ↓

Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company. We provide resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. We provide integrated solid waste services with operating locations in eleven states: Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine, Pennsylvania, Delaware, New Jersey, Maryland and West Virginia, with our headquarters located in Rutland, Vermont. We manage our solid waste operations on a geographic basis through three regional operating segments, the Eastern, Western and Mid-Atlantic regions, each of which provides a comprehensive range of non-hazardous solid waste services. We manage our resource renewal operations through the Resource Solutions operating segment, which leverages our core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver a comprehensive solution for our larger commercial, municipal, institutional and industrial customers that have more diverse waste and recycling needs. Legal, tax, information technology, human resources, certain finance and accounting and other administrative functions are included in our Corporate Entities segment. Our primary objective is to maximize long-term shareholder value through a combination of financial performance, acquisition and organic growth, and strategic asset positioning, while operating in a safe and environmentally sound manner. We closed on nine acquisitions in fiscal year 2025, which further densified our existing footprint, particularly in our Mid-Atlantic region.

Primary products

  • Solid waste collection
  • Disposal
  • Transfer
  • Recycling
  • Organics services
  • Landfill gas-to-energy

Business segments

Eastern Western Mid-Atlantic Resource Solutions Corporate Entities

End markets

Residential Commercial Municipal Institutional Industrial

Geographies

Vermont New Hampshire New York Massachusetts Connecticut Maine Pennsylvania Delaware New Jersey Maryland West Virginia

Named competitors

Waste Management, Inc. Republic Services, Inc. Waste Connections, Inc.
“Our operations are generally located within secondary or tertiary markets where we often have a strong market presence.” Competitive position, as stated in the filing

Revenue commentary · FY 2025

Total revenues increased from $1,557.3 million in fiscal year 2024 to $1,836.8 million in fiscal year 2025, driven primarily by growth in collection revenues and expansion of the Mid-Atlantic region through acquisitions.

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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.

SeventhBiz analysis 6 signals 17 diligence answers 2 M&A transactions SWOT