Casella Waste Systems Inc. (NASDAQ:CWST) Q3 2019 Earnings Conference Call Transcript

Nov 01, 2019 • 09:00 am ET

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Casella Waste Systems Inc. (NASDAQ:CWST) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen thank you for standing by and welcome to the Casella Waste Systems Inc. Third Quarter 2019 Conference Call. [Operator Instructions] I would now like to turn the call over to Mr. Joe Fusco Vice President of Communications. Thank you.

Executive
Joseph Fusco

Thank you for joining us this morning and welcome. With us today are john Casella, Chairman and Chief Executive Officer of console away systems. at Johnson our president and chief operating officer, Ned Coletta our Senior Vice President and Chief Financial Officer; and Jason Mead our Director of Finance. Today we will be discussing our 2019 third quarter results. These results were released yesterday afternoon. And along with a brief review of those results and an update on the company's activities and business environment we will be answering your questions as well. But first as you know I must remind everyone that various remarks that we may make about the company's future expectations plans and prospects constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995.

Actual results may differ materially from those indicated by those forward-looking statements as a result of various important factors including those discussed in the Risk Factors section of our most recent annual report on Form 10-K which is on file with the SEC. In addition any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update forward-looking statements at some point in the future we specifically disclaim any obligation to do so even if our views change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to today. Also during this call we will be referring to non-GAAP financial measures. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures to the extent they are available without unreasonable effort are available in the appendix to our investor slide presentation which is available in the Investors section of our website at ir.casella.com.

And with that I'll turn it over to John Casella who'll begin today's discussion.

Executive
John W. Casella

Thanks Joe and good morning everyone. Welcome to our third quarter 2019 conference call. We continue to be pleased with our execution against key strategies of our 2021 plan and with our performance and results thus far in 2019. Our third quarter revenues and adjusted EBITDA were up 14.9% and 14.1% respectively from last year. Our core solid waste recycling customer solutions business remain strong as we continue to advance key pricing and operational programs. We remain highly focused on the base business as we grow through our disciplined acquisition strategy where year-to-date we've acquired eight businesses with approximately $52 million in annualized revenues exceeding our target of $20 million to $40 million acquisitions for 2019. Four of these acquisitions were completed in the