Last $4.17 USD
Change Today +0.03 / 0.72%
Volume 66.3K
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As of 8:10 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

casella waste systems inc-a (CWST) Key Developments

Casella Waste Systems, Inc. Announces Offering of $25.0 Million Aggregate Principal Amount of New York State Environmental Facilities Corporation

Casella Waste Systems Inc. announced an offering of $25.0 million aggregate principal amount of New York State Environmental Facilities Corporation ("EFC") Solid Waste Disposal Revenue Bonds (Casella Waste Systems Inc. Project) Series 2014 (the "Bonds"), under an indenture between EFC and the bond trustee. An additional $15.0 million aggregate principal amount of EFC Solid Waste Disposal Revenue Bonds (Casella Waste Systems Inc. Project) Series 2014 may be offered under the same indenture in the future. The Bonds will be guaranteed by certain subsidiaries of Casella, pursuant to the terms of the indenture. The exact terms and timing of the Bonds offering will depend upon market conditions and other factors. The net proceeds of the Bonds will be loaned to Casella to enable it to repay borrowings under its revolving credit facility to finance certain capital projects.

Casella Waste Systems, Inc. Announces Pricing of Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds

Casella Waste Systems Inc. announced that it has priced the previously announced offering of $11.0 million aggregate principal amount of Business Finance Authority of the State of New Hampshire (BFA) Solid Waste Disposal Revenue Bonds (Casella Waste Systems Inc. Project) Series 2013 (the Bonds), consisting of the conversion and remarketing of $5.5 million principal amount of Bonds originally issued in 2013 and the issuance of $5.5 million principal amount of additional Bonds. During the 5 year term interest rate period, the interest rate of the Bonds will be 4.00%. The Bonds will mature on April 1, 2029 and will be guaranteed by substantially all of the subsidiaries of Casella, pursuant to the terms of the Bond indenture. The issuance and conversion of the Bonds, as applicable, are expected to close on October 16, 2014.

Casella Waste Systems Inc. Approves Amendments to the Second Amended and Restated Certificate of Incorporation

Casella Waste Systems Inc. approved amendments to the company's Second Amended and Restated Certificate of Incorporation, as amended, and Third Amended and Restated By-Laws to declassify the Board of Directors at its AGM held on October 7, 2014.

Casella Waste Systems Inc. Announces Unaudited Consolidated Earnings Results for First Quarter Ended July 31, 2014; Provides Earnings Guidance for Transition Period Ending December 31, 2014

Casella Waste Systems Inc. announced unaudited consolidated earnings results for first quarter ended July 31, 2014. For the quarter, the company reported revenues of $141,387,000, operating income of $9,338,000, income from continuing operations before income taxes and discontinued operations of $136,000, loss from continuing operations before discontinued operations of $154,000, net loss attributable to common stockholders of $290,000 or $0.01 per basic and diluted share, adjusted EBITDA of $29,942,000, net cash provided by operating activities of $13,581,000, acquisition related additions to property, plant and equipment of $45,000, adjusted operating income of $9,608,000 compared to the revenues of $128,558,000, operating income of $9,737,000, income from continuing operations before income taxes and discontinued operations of $205,000, loss from continuing operations before discontinued operations of $114,000, net loss attributable to common stockholders of $191,000 adjusted EBITDA of $28,734,000, net cash provided by operating activities of $19,526,000, acquisition related additions to property, plant and equipment of $1,072,000, adjusted operating income of $9,864,000 for the same quarter a year ago. Revenue was up 10% from year ago levels, with revenue growth mainly driven by higher disposal volumes, higher solid waste collection pricing, customer solutions growth, and acquisition activity. After a solid start and better visibility, the company reaffirmed its operating guidance for the 8-month transition period ending December 31, 2014. The company expected revenues between $356.0 million and $366.0 million, as compared to $340.1 million for the 8-month period ended December 31, 2013. Adjusted EBITDA between $71.0 million and $75.0 million, as compared to $72.1 million for the 8-month period ended December 31, 2013. Capital Expenditures between $53.0 million and $57.0 million (including between $13.0 million and $17.0 million of capital associated with new contracts and infrastructure development), payments on operating leases of roughly $5.0 million, and capping, closure and environmental remediation payments of roughly $9.0 million.

Casella Waste Systems Inc., Annual General Meeting, Oct 07, 2014

Casella Waste Systems Inc., Annual General Meeting, Oct 07, 2014., at 10:00 Eastern Daylight. Location: Killington Grand Hotel, located at 228 East Mountain Road. Agenda: To elect three Class II directors nominated by the Board of Directors, each to serve for a three-year term expiring at the 2017 Annual Meeting of Stockholders; to approve an amendment to the amended and restated 1997 employee stock purchase plan to increase the number of shares of the Class A common stock authorized for issuance there under from 900,000 shares to 1,200,000 shares; to approve, in an advisory say-on-pay vote, the compensation of named executive officers, as described in the compensation Discussion and Analysis, executive compensation tables and accompanying narrative disclosures in this proxy statement; to adopt and approve amendments to Second Amended and Restated Certificate of Incorporation, as amended, and the third amended and Restated By-Laws to declassify the Board of Directors; and to ratify the appointment of McGladrey LLP, an independent registered public accounting firm.

 

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