Exhibit 99.1
FOR IMMEDIATE RELEASE
CASELLA WASTE SYSTEMS, INC. ANNOUNCES FIRST QUARTER 2018 RESULTS AND REAFFIRMS 2018 GUIDANCE
RUTLAND, VERMONT (May 3, 2018) — Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, today reported its financial results for the three month period ended March 31, 2018. In addition, the Company reaffirms its revenues, Adjusted EBITDA*, and Normalized Free Cash Flow* guidance ranges for the fiscal year ending December 31, 2018.
Highlights for the Three Months Ended March 31, 2018:
 
Revenues were $147.5 million for the quarter, up $13.7 million, or 10.2%, from the same period in 2017.
Net loss was $(3.9) million for the quarter, an increase of $(3.7) million from the same period in 2017.
Adjusted Net Income Attributable to Common Stockholders* was $0.1 million for the quarter, down $(0.2) million from the same period in 2017.
Adjusted EBITDA was $24.6 million for the quarter, up $1.5 million, or 6.4%, from the same period in 2017.
Net cash provided by operating activities was $12.8 million for the quarter, up $2.1 million, or 19.8%, from the same period in 2017.
Normalized Free Cash Flow was $7.2 million for the quarter, up $6.1 million, or 529.5%, from the same period in 2017.
Overall solid waste pricing for the quarter was up 4.3%, driven by strong landfill pricing, up 4.9%, and robust collection pricing, up 4.8%.
“We had another strong operational quarter, as we continued to execute well against our key strategies,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “We remain focused on creating shareholder value through increasing landfill returns, improving collection profitability, creating incremental value through resource solutions, driving general and administrative efficiencies, and strong capital discipline.”
“The progress we have made on our strategies is apparent in the positive financial results in the first quarter, despite significant recycling headwinds,” Casella said. “Our disciplined solid waste pricing programs continued to add value, with landfill pricing up 4.9% and collection pricing up 4.8%. This strong pricing was coupled with 6.6% solid waste volume growth, mainly driven by robust disposal volume growth. Roughly 60% of our disposal volume growth during the quarter was driven by a one-time $3.5 million soil remediation project for a key customer and the remaining 40% was driven by higher landfill volumes across all waste types as we continued to source new landfill volumes at higher prices in the tightening northeastern disposal markets."
“Commodity pricing for recycled paper and cardboard continued to deteriorate during the first quarter due to China’s ban on mixed paper and new lower contamination standards,” Casella said. “Our average commodity revenue per ton was down roughly 50% year-over-year, with mixed paper pricing down over 90% during this same period. Our risk mitigation programs are working well to help offset this historic decline in commodity prices. However, several factors contributed to an under-recovery during the quarter, including: the rapid sequential decline in commodity prices from December to March caused our recovery fees to get behind due to their calculation based on a one-month trailing index; we are absorbing all of the commodity pricing risk on several legacy contracts, which make up roughly 15% of our commodity sales; and our variable costs were up as we had to slow processing lines to improve quality while we incurred higher transportation costs to deliver commodities to new markets. Given these headwinds, recycling operating income missed budget by roughly $2.0 million during the quarter.”
“As we first announced in early August 2017, we have adjusted our capital strategy to balance delevering with prudent growth through acquisition or development investments,” Casella said. “We have set a goal to grow revenues by $20.0 million to $40.0 million per year through acquisition or development activity for the next three years as part of this new strategy. We are off to a great start with this strategy, with roughly $20.0 million of acquired revenues over the last four months. Our acquisition pipeline remains robust, and we believe that investing a portion of our excess cash flows to grow our business will create additional shareholder returns through higher cash flows driven by new revenue streams, internalization to our disposal facilities and cost synergies.”

1

The following information was filed by Casella Waste Systems Inc (CWST) on Thursday, May 3, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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