Exhibit 99.1
FOR IMMEDIATE RELEASE
CASELLA WASTE SYSTEMS, INC. ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2016 RESULTS; AND PROVIDES FISCAL YEAR 2017 GUIDANCE
RUTLAND, VERMONT (March 1, 2017) — 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 twelve month periods ended December 31, 2016. The Company also provides guidance for its next fiscal year ending December 31, 2017.
Highlights for the Three and Twelve Months Ended December 31, 2016:
 
2016 results exceeded guidance for Revenues, Adjusted EBITDA* and Normalized Free Cash Flow*.
Revenues were $143.8 million for the quarter, up $3.8 million, or 2.7%, from the same period in 2015. Revenues were $565.0 million for the fiscal year, up $18.5 million, or 3.4%, from fiscal year 2015.
Net loss was $(12.0) million for the quarter, down $(5.0) million, or 70.6%, from the same period in 2015. Net loss was $(6.9) million for the fiscal year, up $4.9 million, or 41.8%, from fiscal year 2015.
Adjusted net income attributable to common stockholders* was $1.9 million for the quarter, up $3.6 million from the same period in 2015. Adjusted net income attributable to common stockholders was $7.8 million for the fiscal year, up $19.0 million from fiscal year 2015.
Adjusted EBITDA was $29.4 million for the quarter, up $1.6 million, or 5.9%, from the same period in 2015. Adjusted EBITDA was $120.6 million for the fiscal year, up $14.5 million, or 13.7%, from fiscal year 2015.
Adjusted Operating Income* was $10.9 million for the quarter, up $2.7 million, or 33.7%, from the same period in 2015. Adjusted Operating Income was $45.8 million for the fiscal year, up $15.4 million, or 50.3%, from fiscal year 2015.
Net cash provided by operating activities was $80.4 million in the fiscal year, up $9.9 million, or 14.1%, from fiscal year 2015.
Normalized Free Cash Flow was $27.1 million for the fiscal year, up $8.5 million, or 45.6%, from fiscal year 2015.
"We had another strong quarter as we continued to execute well against our key management strategies of increasing landfill returns, improving collection profitability, creating incremental value through resource solutions, and reducing leverage through strict capital discipline and debt repayment,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “The progress we have made on our strategies clearly drove positive financial results in fiscal year 2016, with Adjusted Operating Income up 50.3%, Adjusted Operating Income margins up 250 basis points, Normalized Free Cash Flow up 45.6%, and total shareholder returns of 107.5% during 2016.”
“From an operating standpoint, our disciplined solid waste pricing programs continued to outpace internal inflation with overall solid waste pricing up 2.6% in the quarter, driven by strong residential and commercial pricing, which was up 3.6%, and landfill pricing up 2.7%,” Casella said. “Further, our efforts to reduce operating costs and drive efficiencies continued to gain traction in the fourth quarter, with our cost of operations as a percentage of revenues down 100 bps year-over-year.”
“As previously announced, on October 17, 2016, we refinanced our ABL revolver due 2020 and our 7.75% senior subordinated notes due 2019, with a new $160 million revolving credit facility and a $350 million term loan B,” Casella said. “We believe that this transaction positions us well to continue to execute against our strategic plan by reducing our cash interest costs by approximately $11.0 million per year, improving our financial flexibility, and moving out debt maturities.”
“We have worked hard over the last two years to reshape our recycling sales model in the face of historically low recycling commodity markets with a goal of making a return on our invested capital in all commodity market cycles,” Casella said. “We have made great strides in accomplishing this goal through a combination of our Sustainability/Recycling Adjustment fee applied to hauling customers, floating rebates or tipping fees applied to recycling processing customers, and efforts to reduce operating costs at our materials processing facilities.”

1


The following information was filed by Casella Waste Systems Inc (CWST) on Wednesday, March 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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