Key Developments: Casella Waste Systems, Inc. (CWST.O)
4.41USD
9 Feb 2010
$0.20 (+4.75%)
$4.41
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$4.70
$4.36
58,159
65,641
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Latest Key Developments
Casella Waste Systems, Inc. Announces Massachusetts Superior Court Rejects July 2008 Citizens Appeal Against Southbridge Landfill Conversion And Expansion
Casella Waste Systems, Inc. announced that on December 8, 2009, a Massachusetts superior court judge rejected an appeal by several citizen groups challenging the June 2008, Southbridge Board of Health (the Board) decision which granted a minor modification to the site assignment for the Southbridge Sanitary Landfill (Landfill). Following this favorable decision, the Company's subsidiary, Southbridge Recycling and Disposal Park, Inc. (SRD) will seek the remaining approvals to implement the changes in waste mix and rate of waste deposit that were approved by the Board. The 2008 Site Assignment decision allows SRD to accept into the Landfill up to 405,000 tons of municipal solid waste (MSW) per year. The Landfill is currently permitted to receive only 180,960 tons per year of construction and demolition (C&D) residuals and limited MSW from the Town of Southbridge.
Casella Waste Systems, Inc. Reconfirms FY 2010 Guidance
Casella Waste Systems, Inc. reconfirmed its fiscal 2010 guidance ranges for revenues and reconfirmed its September 2, 2009 estimated guidance range for adjusted EBITDA. According to Reuters Estimates, analysts are expecting the Company to report revenue of $519.2 million for fiscal 2010.
Casella Waste Systems, Inc. Reaffirms FY 2010 Revenue Guidance; Issues FY 2010 Adjusted EBITDA Guidance
Casella Waste Systems, Inc. revised its fiscal 2010 guidance and expects revenue to reconfirms its June 15, 2009 estimated guidance. For fiscal 2009, EBITDA guidance will be replaced with Adjusted EBITDA guidance. Adjusted EBITDA guidance is estimated between $120.0 and $126.0 million, reflecting the non-cash add-back of approximately $9.0 million of accretion and depletion of landfill operating leases to the original EBITDA guidance range of $111.0 to $117.0 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $511 million for the same period.
Casella Waste Systems, Inc. Announces Resignation Of John Quinn As Chief Financial Officer
Casella Waste Systems, Inc. announced that John Quinn will resign his role as Senior Vice President, Chief Financial Officer (CFO) and Treasurer effective September 25, 2009. The company has begun an immediate search for a new Chief Financial Officer.
Casella Waste Systems, Inc. Amends 2009 Annual Report On Form 10-K To Eliminate Going Concern Qualification
Casella Waste Systems, Inc. announced that its independent registered public accounting firm, Caturano and Company, P.C., has eliminated its going concern opinion from the Company's annual report. The Company filed an amendment to its annual report on Form 10-K for the year ended April 30, 2009, reflecting both the elimination of the going concern paragraph as well as the completion of the Company's recent note offering and refinancing. Following the closing of the amended and restated senior first lien credit facilities and the closing of the sale of the $180 million aggregate principal amount of senior second lien notes due 2014, Caturano and Company re-audited the Company's financial statements for the fiscal year ended April 30, 2009 and determined that such an explanatory paragraph was no longer necessary or appropriate.
Casella Waste Systems, Inc. Announces Pricing of Notes Offering
Casella Waste Systems, Inc. announced that it has priced the previously announced offering of $180 million aggregate principal amount of 11.00% senior secured second lien notes due 2014 (the Notes) at an issue price of 97.212% of the principal amount of the Notes. The issuance of the Notes is anticipated to close on July 9, 2009. The Notes will pay interest on a semi-annual basis. The Notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and to non-U.S. persons outside the United States under Regulation S under the Securities Act. Casella intends to use the net proceeds from the offering to repay a portion of the borrowings under its existing senior secured credit facility. The closing of the offering will be conditioned on customary closing conditions and the closing of a new senior secured first lien credit facility which will be used to refinance the balance of the borrowings under Casella's existing senior secured credit facility.
Casella Waste Systems, Inc. Announces Offering Of Senior Secured Second Lien Notes
Casella Waste Systems, Inc. announced that it intends to offer $205 million aggregate principal amount of senior secured second lien notes due 2014. The net proceeds from the offering will be used to repay a portion of the borrowings under the Company's existing senior secured credit facility. The offering will be conditioned on the closing of a new senior secured first lien credit facility which will be used to refinance the balance of the borrowings under the Company's existing senior secured credit facility.
Casella Waste Systems, Inc. Issues FY 2010 Guidance In Line With Analysts' Estimates
Casella Waste Systems, Inc. announced that for fiscal 2010, it expects revenue to be between $510.0-$530.0 million and EBITDA to be between $111.0-$117.0 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $515.0 million and EBITDA of $116.0 million for the same period.
Casella Waste Systems, Inc. Updates FY 2009 Guidance To A Range Below Analysts' Estimates
Casella Waste Systems, Inc. updated fiscal 2009 guidance and expects revenue to be in the range of $540.0-$560.0 million and EBITDA to be in the range of $115.0-$117.0 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $585 million and EBITDA of $120 million for the same period.
Casella Waste Systems, Inc. Names John Quinn As Chief Financial Officer
Casella Waste Systems, Inc. announced that John Quinn will join the Company as Senior Vice President, Chief Financial Officer, and Treasurer.
New Issue-Casella Waste sells $180 mln in 5-yr notes
July 1 (Reuters) - Casella Waste Systems Inc on Wednesday sold $180 million of five-year senior secured notes in the 144a private placement market, said IFR, a Thomson Reuters service.
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