{"id":191,"date":"2024-08-23T09:43:40","date_gmt":"2024-08-23T08:43:40","guid":{"rendered":"https:\/\/eleiq.com\/?p=191"},"modified":"2024-08-23T09:43:41","modified_gmt":"2024-08-23T08:43:41","slug":"eleiq-new-products-launch","status":"publish","type":"post","link":"https:\/\/eleiq.com\/index.php\/2024\/08\/23\/eleiq-new-products-launch\/","title":{"rendered":"Eleiq &#8211; New Products Launch"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><strong>Financial picture:<\/strong>&nbsp;During an earnings call on Friday, CEO John Casella highlighted strong revenue growth from<strong>&nbsp;<\/strong>collection and disposal pricing as well as higher recycling commodity prices and rollover contributions from 2023 acquisitions. \u201cThe growth in our business, both organically and through acquisitions, positions us well for the second half of the year,\u201d he said.<\/li>\n\n\n\n<li><strong>Whitetail and LMR acquisition details:&nbsp;<\/strong>Casella provided more details on its recent&nbsp;<a href=\"https:\/\/www.wastedive.com\/news\/whitetail-disposal-casella-waste-lmr-disposal-pennsylvania-new-jersey\/722640\/\">acquisition of Whitetail Disposal and LMR Disposal<\/a>&nbsp;in Pennsylvania, which he said will help densify the company\u2019s presence in the region. President Ned Coletta highlighted the businesses\u2019 \u201cwell-established customer and community relationships,\u201d which he said set up Casella for further organic growth opportunities.&nbsp;The deals represent about $100 million in annualized revenue.<\/li>\n\n\n\n<li><strong>Growth potential:&nbsp;<\/strong>The acquisitions offer a particular growth opportunity in<strong>&nbsp;<\/strong>its Resource Solutions offerings by potentially internalizing more recycling volumes into a regional recycling facility it acquired from GFL Environmental last year,&nbsp;Coletta said. Whitetail also has a \u201cvery well run\u201d set of residential, municipal, commercial and industrial segments that can offer further opportunities for growth.&nbsp;The companies did not come with transfer or disposal assets, and Casella is not immediately planning to internalize that waste.<\/li>\n\n\n\n<li><strong>McKean Landfill:<\/strong><strong>&nbsp;<\/strong>Casella completed rail infrastructure improvements at its McKean&nbsp;Landfill in Pennsylvania during Q2 and received its first test loads. Casella has not yet included incremental contributions from the site in its forecast or guidance, Coletta said, but \u201cthis site provides a solid long-term risk management strategy to preserve our flexibility in the Northeast.\u201d<\/li>\n\n\n\n<li><strong>Unexpected expenses:&nbsp;<\/strong>Casella reported about $3 million of unanticipated expenses in the quarter, mainly due to higher leachate management costs related to flooding in the Northeast, as well as employee separation costs.&nbsp;<\/li>\n\n\n\n<li><strong>C&amp;D volumes:&nbsp;<\/strong>Overall landfill volumes were down year over year. MSW volumes were stable in the quarter, but C&amp;D and special waste volumes continue to be a headwind. Executives expect&nbsp;the market will return to a more \u201csteady state\u201d next year following the upcoming&nbsp;<a href=\"https:\/\/www.wastedive.com\/news\/brookhaven-landfill-new-york-winters-bros-ash-rail\/646369\/\">closure of the&nbsp;Brookhaven&nbsp;Landfill in New York<\/a>. In the meantime, lower C&amp;D volumes have been factored into company guidance, and Coletta noted that Casella has deemphasized its C&amp;D business over the years.<\/li>\n\n\n\n<li><strong>Recycling<\/strong>:&nbsp;Average commodity revenue per ton was up 50% year over year. Casella said collection cost efficiencies and the success of the recently-upgraded Boton MRF have driven success in the sector. The Boston MRF contributed about $2.5 million adjusted earnings before interest, taxes, depreciation and amortization growth in the quarter. The company is also beginning its Willimantic MRF upgrade process in Connecticut.<\/li>\n\n\n\n<li><strong>2024 guidance:<\/strong>&nbsp;Casella raised its 2024 revenue and adjusted EBITDA guidance. Revenues are now expected to be between $1.52 billion and $1.55 billion, up from a range of $1.48 billion to $1.51 billion. The Adjusted EBITDA range is now between $360 million and $370 million.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-191","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/posts\/191"}],"collection":[{"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/comments?post=191"}],"version-history":[{"count":1,"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/posts\/191\/revisions"}],"predecessor-version":[{"id":192,"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/posts\/191\/revisions\/192"}],"wp:attachment":[{"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/media?parent=191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/categories?post=191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eleiq.com\/index.php\/wp-json\/wp\/v2\/tags?post=191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}