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casella Casella Waste Systems , Inc. Announces Third Quarter 2021 Results ; and Raises Fiscal Year 2021 Guidance October 28 , 2021 • Third quarter financial results exceeded expectations , with solid operating execution , cost efficiencies and strong cash flow growth . • The Company raised its revenue , net income , Adjusted EBITDA , net cash provided by operating activities , and Adjusted Free Cash Flow guidance ranges for the fiscal year ending December 31 , 2021 ( " fiscal year 2021 " ) . RUTLAND , Vt . , Oct. 28 , 2021 ( GLOBE NEWSWIRE ) Casella Waste Systems , Inc. ( NASDAQ : CWST ) , a regional solid waste , recycling and resource management services company , today reported its financial results for the three and nine month periods ended September 30 , 2021 . Highlights for the Three Months and Year - to - Date Ended September 30 , 2021 : -- • Revenues were $ 242.0 million for the quarter , up $ 39.3 million , or up 19.4 % , from the same period in 2020 . • Overall solid waste pricing for the quarter was up 4.1 % , driven by collection pricing , up 4.6 % , and landfill pricing , up 3.7 % , from the same period in 2020 . • Net income was $ 15.9 million for the quarter , up $ 0.8 million , or up 4.9 % , from the sa me period in 2020. Provision for income taxes was $ 6.6 million for the quarter , up $ 6.2 million from the same period in 2020 . • Adjusted EBITDA , a non - GAAP measure , was $ 61.2 million for the quarter , up $ 10.0 million , or up 19.4 % , from the same period in 2020 . • Net cash provided by operating activities was $ 134.1 million for the year - to - date period , up $ 22.2 million , or up 19.8 % , from the same period in 2020 . • Adjusted Free Cash Flow , a non - GAAP measure , was $ 82.3 million for the year - to - date period , up $ 22.3 million , or up 37.2 % , from the same period in 2020 . • Acquired nine businesses with approximately $ 86 million of annualized revenues year - to - date . " We had another strong operational quarter , as we continued to execute well against our long - term strategic plan , ” said John W. Casella , Chairman and CEO of Casella Waste Systems , Inc. " As a result , we increased revenues by 19.4 % and Adjusted EBITDA by 19.4 % year - over - year in the quarter and we increased year - to - date Adjusted Free Cash Flow by 37.2 % year - over - year . " " These positive results are a testament to the hard work , adaptability and dedication of our team , our asset positioning in the disposal capacity constrained northeast market , and strong execution against our operating and cost efficiency programs , " Casella said . " Our solid waste pricing continued to improve sequentially as we advanced 4.1 % solid waste pricing during the third quarter , with strength in both collection and disposal lines of - business . Solid waste volumes were up 2.8 % year - over - year , with much of this growth driven by the continued rebound of disposal volumes , especially in the New York markets . " " Our team did a great job controlling costs while volumes continued to ramp back online during the quarter and certain cost categories experienced heightened inflationary pressure , " Casella said . " Our investments in technology , including our route optimization program , continued automation of our fleet , and real - time data analytics helped to offset these inflationary cost increases . " " We continue to execute well against our long - term growth strategy and we have acquired nine businesses with approximately $ 86 million of annualized revenues year - to - date through October , " Casella said . " We expect to recognize roughly $ 50 million of revenues in 2022 from the roll - over impact of acquisitions already completed in 2021. " " We are focused on acquiring well run businesses in strategic markets that will drive long - term growth , additional vertical integration and enhance operating synergies , " Casella said . " Our acquisition pipeline remains robust , and we believe that there is continued opportunity to drive additional cash flow growth across our footprint through execution of our growth strategy . " For the quarter , revenues were $ 242.0 million , up $ 39.3 million , or up 19.4 % , from the same period in 2020 , with revenue growth mainly driven by : the roll - over impact from acquisitions ; positive collection and disposal pricing ; higher solid waste volumes ; higher recycling commodity prices ; higher resource solutions processing volumes ; and higher resource solutions non - processing revenues ; partially offset by lower Sustainability Recycling Adjustment ( SRA ) fees as we share higher commodity prices with our customers . Net income was $ 15.9 million for the quarter , or $ 0.31 per diluted common share , up $ 0.8 million , or up 4.9 % , as compared to net income of $ 15.1 million , or $ 0.31 per diluted common share , for the same period in 2020. The quarter included $ 1.9 million of expense from acquisition activities and $ 0.3 million of legal and other expenses associated with the closure of our landfill in Southbridge , Massachusetts ( " Southbridge Landfill " ) . The same quarter last year included $ 0.2 million of expense from acquisition activities and $ 2.6 million of legal and other expenses associated with the Southbridge Landfill closure .