Key Highlights

  • Revenues rose 15.2% to $559.2 million in the third quarter of 2026.
  • Solid waste pricing increased 5.5%, led by 5.9% growth in collection prices.
  • The company posted a net loss of $7.0 million, compared with Net Income of $10.0 million a year earlier.
  • Adjusted free Cash Flow declined 7.0% to $111.1 million for the first nine months of 2026.

Casella Waste Systems, Inc. (NASDAQ:CWST) reported third-quarter 2026 revenues of $559.2 million, an increase of 15.2% from the same period a year earlier. The regional solid waste, recycling and resource management company also raised adjusted EBITDA, but it swung to a GAAP net loss tied to an Impairment charge, and its adjusted free cash flow for the first nine months trailed the prior year. The figures show pricing and acquisitions driving top-line growth, while cash generation has been slower to follow.

Revenue Growth and Pricing

Third-quarter revenues increased by $73.9 million from the prior-year period.

Casella, based in Rutland, Vermont, provides solid waste collection, disposal and recycling services. Solid waste pricing rose 5.5% for the quarter, supported by 5.9% growth in collection prices and 4.8% growth in disposal prices.

Earnings and Cash Flow

Casella reported a net loss of $7.0 million for the quarter, compared with net income of $10.0 million in the same period of 2025. The company attributed the change to an impairment charge. Excluding that charge and other non-GAAP items, Adjusted Net Income was $22.3 million, down $5.1 million from a year earlier.

Net cash provided by Operating Activities for the first nine months reached $241.8 million, up 3.7% from the prior year. Adjusted free cash flow, however, fell 7.0% to $111.1 million over the same period.

Guidance Adjustments

Casella narrowed its 2026 Adjusted EBITDA guidance, reaffirmed its Adjusted Free Cash Flow guidance and raised its Revenue outlook. Chief Executive Ned Coletta said the company again delivered top-line and Adjusted EBITDA growth in the quarter, with pricing performance across most of its businesses.

Non-GAAP reconciliations in the company's results provide the detail needed to separate those effects.

The gap between that figure and the GAAP result is one of the clearest illustrations in the quarter of how non-GAAP adjustments change the picture for shareholders.

The quarter's pricing gains of 5.5% therefore carry weight for future revenue, and the company's six acquisitions in the first nine months extend its footprint.

Final Word

Revenues rose 15.2% to $559.2 million in the third quarter of 2026. Solid waste pricing increased 5.5%, led by 5.9% growth in collection prices.