Casella aims to hit 26% margin by 2029, scraps NH landfill project
Casella Waste Systems reported Q3 2026 revenue of $559.2M, up 15.2% YoY, and adjusted EBITDA of $133.5M, up 11.4% YoY, but a net loss of $7M. The company announced a '300 in 3' plan to reach a 26% EBITDA margin by 2029, aiming for operational improvements and cost savings. Casella also abandoned a NH landfill project, incurring a $13.6M write-off. The company raised revenue guidance to $2.1B-$2.11B but expects a net loss of $10M-$4M.
How this was made
The 30-second read
Why it matters
The earnings release and guidance raise suggest improved cash flow and profitability, which could attract growth‑oriented investors.
Market read
First‑time earnings and guidance disclosure for CWST, with material financial metrics and strategic plan, offering a clear trading catalyst.
What to watch
Activist pressure from Jana Partners and possible future M&A activity may add volatility.
Background
Casella Waste Systems (CWST) is a U.S. waste‑collection and landfill operator that recently faced activist investor pressure and abandoned a New Hampshire landfill project.
Ticker impact
Casella Waste Systems reported Q3 2026 results with $559.2M revenue, $133.5M adjusted EBITDA and raised FY revenue guidance to $2.1B-$2.11B while outlining a margin‑improvement plan.
likely upward pressure as investors price in higher margins and revenue outlook
The company disclosed fresh earnings numbers and forward guidance that were not previously public, indicating material upside potential.
Market effects
Margin‑improvement focus may set a benchmark for other waste‑management peers.
North‑East US waste services market could see modest re‑rating.
Limited to U.S. waste‑management sector.
Counterpoint
The write‑off of the Granite State landfill and potential divestitures could signal underlying operational challenges.
Key entities
- companyCasella Waste Systems
U.S. waste‑management firm reporting Q3 results.
- activist investorJana Partners
Pressuring Casella to achieve higher EBITDA margins.
