Stock Story -
Waste management company Casella (NASDAQ:CWST) will be reporting earnings tomorrow after market hours. Here's what to look for.
Casella Waste Systems met analysts' revenue expectations last quarter, reporting revenues of $341 million, up 29.9% year on year. It was an ok quarter for the company, with a narrow beat of analysts' revenue estimates.
Is Casella Waste Systems a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Casella Waste Systems's revenue to grow 28.6% year on year to $372.6 million, improving from the 2.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Casella Waste Systems has missed Wall Street's revenue estimates three times over the last two years.
Looking at Casella Waste Systems's peers in the environmental and facilities services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Waste Management (NYSE:WM) delivered year-on-year revenue growth of 5.5%, meeting analysts' expectations, and Republic Services reported revenues up 8.6%, in line with consensus estimates. Waste Management traded down 8% following the results while Republic Services was also down 5.2%.
Read the full analysis of Waste Management's and Republic Services's results on StockStory.
There has been positive sentiment among investors in the environmental and facilities services segment, with share prices up 9.4% on average over the last month. Casella Waste Systems is up 6% during the same time and is heading into earnings with an average analyst price target of $106.2 (compared to the current share price of $102.64).
![Earnings To Watch: Casella Waste Systems (CWST) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/picbc5bf569763f9a6f935d768742f53937.jpeg)