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December 3, 2012
18:00 EDTCWSTCasella Waste provides negative variances from FY forecast
The negative variances from Casella's fiscal year forecast as presented in August to this current forecast include the following impacts from Q2 and expectations about the remainder of the fiscal year: actual commodity prices declined below the levels forecast in August. Given the actual lower results from Q2 and current revised commodity price forecast for the remainder of the company's fiscal year, the company expects recycling adjusted EBITDA to be approximately $1.3M lower than that reflected in its August fiscal year forecast; while the company expected disposal volumes to decline through Q2, actual volumes and pricing declined below the levels forecast in August, mainly due to lower C&D volumes, lower special waste volumes, and contract delays for drilling solidification work at the company's Western New York landfills. Given the actual lower results from Q2 and the company's current revised forecast for the remainder of its FY, the company expects disposal adjusted EBITDA to be approximately $2.8M lower than that reflected in its August FY forecast; given the actual lower results from Q2 and the company's current revised forecast for the remainder of its FY, roll-off adjusted EBITDA is expected to be approximately $1.1M lower than that reflected in its August fiscal year forecast; the delayed start-up of the company's joint venture water treatment facility at its McKean landfill is expected reduce the facility's forecasted adjusted EBITDA for the fiscal year by $700,000 from the August FY forecast.
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