Company Sees FY26 Adjusted EBITDA of $455M-$465M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 19 2026
0mins
Should l Buy CWST?
Sees FY26 adjusted EBITDA $455M-$465M. Sees FY26 adjusted free cash flow $195M-$205M. The company said, "In 2025, we acquired nine businesses, and on January 1, 2026, we successfully closed the previously announced Mountain State Waste acquisition. Combined these deals represent approximately $145 million in annualized revenue. Over the past five years, we have acquired more than $800 million of annualized revenue through tuck-in acquisitions and new market entries, expanding our geographic footprint and creating meaningful shareholder value. Looking ahead to 2026, our acquisition pipeline remains robust, with attractive opportunities to further expand and densify our platform."
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Analyst Views on CWST
Wall Street analysts forecast CWST stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 93.550
Low
111.00
Averages
114.33
High
120.00
Current: 93.550
Low
111.00
Averages
114.33
High
120.00
About CWST
Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company. The Company provides resource management 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. It also holds collection operations across eastern Pennsylvania and western New Jersey. It manages its 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. It manages its resource renewal operations through the Resource Solutions operating segment, which leverages its core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver comprehensive solutions for its commercial, municipal, institutional and industrial customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Casella Waste Systems Reports Strong Q4 2025 Earnings Growth
- Consistent Growth: Casella Waste Systems achieved its fifth consecutive year of double-digit growth in 2025, with revenues up 18%, adjusted EBITDA rising 17%, and adjusted free cash flow increasing 14%, reflecting the company's sustained operational and strategic success.
- Acquisition Expansion: The company completed nine acquisitions in 2025, contributing over $115 million in annualized revenues, with the Mountain State Waste acquisition expected to add $30 million in annualized revenues in 2026, further strengthening its market position.
- Operational Efficiency Gains: The introduction of new automated trucks and significant progress on system integration in the Mid-Atlantic region are expected to enhance operational efficiency, with expansions at Hakes and Hyland landfills projected to increase Hyland's annual permit from 460,000 tons to 1,000,000 tons, adding nearly 60 years of capacity.
- Outlook Guidance: Management anticipates 2026 revenues between $1.97 billion and $1.99 billion, with adjusted EBITDA projected between $455 million and $465 million, demonstrating confidence in future growth despite challenges from facility closures.
See More
Casella Waste Systems Q4 Earnings Beat Expectations
- Earnings Beat: Casella Waste Systems reported a Q4 non-GAAP EPS of $0.30, exceeding expectations by $0.08, indicating a sustained improvement in profitability that boosts investor confidence.
- Revenue Growth Slows: Revenue increased by 9.7% year-over-year to $469.1 million, yet fell short of expectations by $1.79 million, reflecting pressures from intensified market competition and rising costs that could impact future profitability.
- Industry Conference Presentation: The company showcased its performance at the Goldman Sachs Industrials and Materials Conference, emphasizing its strong position in waste management to attract investor interest in its long-term growth potential.
- Valuation Concerns: Despite solid performance, concerns over the company's valuation have intensified, with analysts noting that the current stock price may reflect overly optimistic growth expectations, necessitating a cautious assessment of investment risks.
See More
Casella Waste Systems to Announce Q4 Earnings on February 19th
- Earnings Announcement: Casella Waste Systems (CWST) is set to release its Q4 fiscal year 2023 earnings on February 19th after market close, with a consensus EPS estimate of $0.22, reflecting a substantial year-over-year increase of 175%, indicating a significant enhancement in the company's profitability.
- Revenue Expectations: Analysts project CWST's revenue to reach $470.89 million, representing a 10.2% year-over-year growth, suggesting sustained market demand in the waste management sector that could drive future business expansion.
- Historical Performance Review: Over the past two years, CWST has exceeded EPS estimates 38% of the time and revenue estimates 63% of the time, reflecting relative stability in financial performance and market confidence in the company's operations.
- Industry Conference Participation: CWST will also present at the 2025 Goldman Sachs Industrials and Materials Conference, further enhancing its visibility within the industry and investor confidence, potentially paving the way for future capital market activities.
See More
Small-Cap Stocks Are Gaining Momentum: Reasons This Rally May Endure.
Small-Cap Stocks Performance: Small-cap stocks have started 2026 strongly, with the Russell 2000 index rising over 6% this month.
Comparison with Larger Indices: This performance surpasses that of larger indices such as the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite.
January Effect: The strong start for small-cap stocks may be attributed to the "January effect," a phenomenon where these stocks typically see gains in the first month of the year.
Market Trends: The trend indicates a potential shift in investor sentiment favoring smaller companies at the beginning of the year.
See More
Casella Waste Systems (CWST) Shares Rise Over 3% Following Jefferies Upgrade
- Stock Price Increase: Casella Waste Systems' shares rose over 3% in recent trading, indicating increased market confidence in the company's future performance, which may attract more investor interest.
- Analyst Upgrade: Jefferies' upgrade of Casella Waste Systems reflects a positive outlook from analysts regarding the company's business prospects, potentially driving further stock price increases and improving market sentiment.
- Market Reaction: This stock price increase may draw more institutional investors' attention, thereby enhancing the company's liquidity and strengthening its market position, further solidifying its competitiveness in the waste management industry.
- Investor Confidence: The positive rating from analysts could bolster investor confidence in Casella Waste Systems, promoting more capital inflow and subsequently driving the company's future growth and expansion plans.
See More
CWST Stock Surpasses 200-Day Moving Average with Last Trade at $103.37
- Stock Performance: CWST's 52-week low is $82.22 and high is $121.24, with the last trade at $103.37, indicating stability within its trading range, which may enhance investor confidence.
- Technical Indicator Breakthrough: The stock recently surpassed its 200-day moving average, suggesting a potential upward trend in the short term, attracting more attention from technical analysis investors and possibly driving further price increases.
- Market Reaction: This price performance may reflect market optimism regarding CWST's future growth potential, especially as investor demand for stable returns increases in the current economic environment.
- Investor Focus: As the stock approaches its 52-week high, investors may reassess CWST's investment value, potentially impacting its market liquidity and trading volume.
See More
Casella Waste Systems Reports Strong Q4 2025 Earnings Growth
- Consistent Growth: Casella Waste Systems achieved its fifth consecutive year of double-digit growth in 2025, with revenues up 18%, adjusted EBITDA rising 17%, and adjusted free cash flow increasing 14%, reflecting the company's sustained operational and strategic success.
- Acquisition Expansion: The company completed nine acquisitions in 2025, contributing over $115 million in annualized revenues, with the Mountain State Waste acquisition expected to add $30 million in annualized revenues in 2026, further strengthening its market position.
- Operational Efficiency Gains: The introduction of new automated trucks and significant progress on system integration in the Mid-Atlantic region are expected to enhance operational efficiency, with expansions at Hakes and Hyland landfills projected to increase Hyland's annual permit from 460,000 tons to 1,000,000 tons, adding nearly 60 years of capacity.
- Outlook Guidance: Management anticipates 2026 revenues between $1.97 billion and $1.99 billion, with adjusted EBITDA projected between $455 million and $465 million, demonstrating confidence in future growth despite challenges from facility closures.
See More
Casella Waste Systems Q4 Earnings Beat Expectations
- Earnings Beat: Casella Waste Systems reported a Q4 non-GAAP EPS of $0.30, exceeding expectations by $0.08, indicating a sustained improvement in profitability that boosts investor confidence.
- Revenue Growth Slows: Revenue increased by 9.7% year-over-year to $469.1 million, yet fell short of expectations by $1.79 million, reflecting pressures from intensified market competition and rising costs that could impact future profitability.
- Industry Conference Presentation: The company showcased its performance at the Goldman Sachs Industrials and Materials Conference, emphasizing its strong position in waste management to attract investor interest in its long-term growth potential.
- Valuation Concerns: Despite solid performance, concerns over the company's valuation have intensified, with analysts noting that the current stock price may reflect overly optimistic growth expectations, necessitating a cautious assessment of investment risks.
See More
Casella Waste Systems to Announce Q4 Earnings on February 19th
- Earnings Announcement: Casella Waste Systems (CWST) is set to release its Q4 fiscal year 2023 earnings on February 19th after market close, with a consensus EPS estimate of $0.22, reflecting a substantial year-over-year increase of 175%, indicating a significant enhancement in the company's profitability.
- Revenue Expectations: Analysts project CWST's revenue to reach $470.89 million, representing a 10.2% year-over-year growth, suggesting sustained market demand in the waste management sector that could drive future business expansion.
- Historical Performance Review: Over the past two years, CWST has exceeded EPS estimates 38% of the time and revenue estimates 63% of the time, reflecting relative stability in financial performance and market confidence in the company's operations.
- Industry Conference Participation: CWST will also present at the 2025 Goldman Sachs Industrials and Materials Conference, further enhancing its visibility within the industry and investor confidence, potentially paving the way for future capital market activities.
See More
Small-Cap Stocks Are Gaining Momentum: Reasons This Rally May Endure.
Small-Cap Stocks Performance: Small-cap stocks have started 2026 strongly, with the Russell 2000 index rising over 6% this month.
Comparison with Larger Indices: This performance surpasses that of larger indices such as the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite.
January Effect: The strong start for small-cap stocks may be attributed to the "January effect," a phenomenon where these stocks typically see gains in the first month of the year.
Market Trends: The trend indicates a potential shift in investor sentiment favoring smaller companies at the beginning of the year.
See More
Casella Waste Systems (CWST) Shares Rise Over 3% Following Jefferies Upgrade
- Stock Price Increase: Casella Waste Systems' shares rose over 3% in recent trading, indicating increased market confidence in the company's future performance, which may attract more investor interest.
- Analyst Upgrade: Jefferies' upgrade of Casella Waste Systems reflects a positive outlook from analysts regarding the company's business prospects, potentially driving further stock price increases and improving market sentiment.
- Market Reaction: This stock price increase may draw more institutional investors' attention, thereby enhancing the company's liquidity and strengthening its market position, further solidifying its competitiveness in the waste management industry.
- Investor Confidence: The positive rating from analysts could bolster investor confidence in Casella Waste Systems, promoting more capital inflow and subsequently driving the company's future growth and expansion plans.
See More
CWST Stock Surpasses 200-Day Moving Average with Last Trade at $103.37
- Stock Performance: CWST's 52-week low is $82.22 and high is $121.24, with the last trade at $103.37, indicating stability within its trading range, which may enhance investor confidence.
- Technical Indicator Breakthrough: The stock recently surpassed its 200-day moving average, suggesting a potential upward trend in the short term, attracting more attention from technical analysis investors and possibly driving further price increases.
- Market Reaction: This price performance may reflect market optimism regarding CWST's future growth potential, especially as investor demand for stable returns increases in the current economic environment.
- Investor Focus: As the stock approaches its 52-week high, investors may reassess CWST's investment value, potentially impacting its market liquidity and trading volume.
See More
