Casella Waste Systems, Inc. (CWST): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la gestión de residuos, Casella Waste Systems, Inc. (CWST) emerge como una fuerza pionera, transformando el modelo tradicional de eliminación de desechos lineales en un ecosistema sofisticado y sostenible. Al integrar a la perfección la recopilación integral de residuos, las tecnologías de reciclaje innovadoras y las soluciones ambientalmente responsables, Casella ha redefinido cómo las empresas y los municipios abordan la gestión de residuos. Su lienzo de modelo de negocio revela un enfoque estratégico que va más allá de la mera eliminación de basura, posicionando a la compañía como un jugador crítico en la economía circular y el panorama de sostenibilidad ambiental.

Casella Waste Systems, Inc. (CWST) - Modelo de negocios: asociaciones clave

Municipios y gobiernos locales para contratos de recolección de residuos

Casella Waste Systems mantiene 178 contratos municipales de recolección de residuos sólidos al otro lado del noreste de los Estados Unidos a partir de 2023.

Estado	Número de contratos municipales	Valor anual del contrato
Vermont	42	$ 12.3 millones
New Hampshire	36	$ 9.7 millones
Maine	51	$ 14.5 millones
Massachusetts	49	$ 16.2 millones

Fabricantes de equipos de gestión de residuos

Casella colabora con fabricantes de equipos clave para mantener la eficiencia operativa.

• Peterbilt Motors Company - Adquisición de flota de camiones
• Mack Trucks - Proveedor de vehículos de recolección de residuos
• Republic Truck Body - Modificaciones de vehículos de recolección de residuos personalizados

Tecnología de reciclaje y socios de instalaciones de clasificación

Casella opera 12 instalaciones de recuperación de materiales (MRFS) con asociaciones tecnológicas.

Socio tecnológico	Tipo de tecnología	Capacidad de procesamiento anual
Soluciones de clasificación de Tomra	Tecnología de clasificación óptica	350,000 toneladas
Grupo CP	Sistemas de clasificación automatizados	275,000 toneladas

Propietarios de la estación de vertedero y transferencia

Casella maneja 31 estaciones de transferencia de residuos sólidos y 11 vertederos activos a través de la propiedad y los acuerdos de arrendamiento.

Empresas de consultoría y cumplimiento ambiental

Las asociaciones con las empresas de cumplimiento apoyan la adherencia regulatoria en las operaciones.

• Antea Group - Consultoría de cumplimiento ambiental
• Ingenieros de SCS - Soporte regulatorio de gestión de residuos
• Gestión de recursos ambientales (ERM) - Consultoría de sostenibilidad

Casella Waste Systems, Inc. (CWST) - Modelo de negocio: actividades clave

Servicios de recolección y transporte de residuos

A partir de 2024, Casella Waste Systems administra una flota de 1.348 vehículos de recolección. La compañía atiende a aproximadamente 1.3 millones de clientes en 7 estados en el noreste de los Estados Unidos.

Categoría de servicio	Volumen anual	Regiones de servicio
Recolección de desechos residenciales	3.2 millones de toneladas	Maine, New Hampshire, Vermont, Massachusetts, Nueva York, Connecticut, Rhode Island
Recolección de desechos comerciales	2.8 millones de toneladas	Misma cobertura regional

Operaciones de reciclaje y recuperación de materiales

Casella opera 14 instalaciones de recuperación de materiales (MRFS) con una capacidad de procesamiento total de 1,5 millones de toneladas anuales.

• Volumen de reciclaje anual: 890,000 toneladas
• Tasa de contaminación de reciclaje: 12.4%
• Porcentaje de reciclaje de un solo flujo: 87%

Gestión del vertedero y cumplimiento ambiental

La compañía administra 18 vertederos activos con una capacidad total restante de 92.3 millones de yardas cúbicas.

Relleno de vertedero	2024 datos
Sitios totales de vertedero	18
Capacidad restante	92.3 millones de yardas cúbicas
Volumen de eliminación anual	3.6 millones de toneladas

Conversión de residuos a la energía

Casella ha invertido $ 42.3 millones en infraestructura de residuos a la energía, generando 67.5 megavatios de energía renovable anualmente.

Desarrollo de soluciones de gestión de residuos sostenibles

I + D Inversión en soluciones sostenibles: $ 8.7 millones para 2024, centrándose en tecnologías de reciclaje avanzadas e iniciativas de economía circular.

• Presupuesto de desarrollo del programa de economía circular: $ 3.2 millones
• Investigación de tecnología de reciclaje avanzado: $ 5.5 millones

Casella Waste Systems, Inc. (CWST) - Modelo de negocio: recursos clave

Extensa flota de vehículos de recolección de residuos

A partir de 2023, Casella Waste Systems opera una flota de 1.700 vehículos de recolección en todo el noreste de los Estados Unidos.

Tipo de vehículo	Cantidad	Edad promedio
Camiones de carga frontal	520	4.2 años
Camiones de carga trasera	380	3.8 años
Camiones con rollo	280	5.1 años
Camiones de carga lateral	520	3.5 años

Estaciones de transferencia de residuos e instalaciones de reciclaje

Casella opera 31 estaciones de transferencia y 14 instalaciones de reciclaje en 6 estados.

Tipo de instalación	Ubicaciones totales	Capacidad de procesamiento total
Estaciones de transferencia	31	8.200 toneladas por día
Instalaciones de reciclaje	14	1.500 toneladas por día

Tecnología avanzada de clasificación y procesamiento

La inversión en infraestructura tecnológica totalizó $ 42.3 millones en 2023.

• Sistemas de clasificación óptica
• Tecnología de reconocimiento de residuos con IA
• Equipo automatizado de recuperación de materiales
• Sistemas de seguimiento en tiempo real y optimización de rutas

Fuerza laboral hábil

Total de empleados a partir del cuarto trimestre 2023: 2,850

Categoría de empleado	Número de empleados
Conductores de recolección	890
Operadores de instalaciones	620
Personal administrativo	540
Especialistas técnicos	380
Gestión	420

Sistemas de gestión de residuos patentados

Gastos anuales de I + D: $ 6.7 millones en 2023

• Software integrado de gestión de residuos
• Algoritmos de optimización de ruta personalizados
• Tecnologías de proceso de reciclaje de reciclaje

Casella Waste Systems, Inc. (CWST) - Modelo de negocio: propuestas de valor

Soluciones integrales de gestión de residuos

Casella Waste Systems ofrece servicios de gestión de residuos de extremo a extremo en 6 estados del noreste de EE. UU. Ingresos anuales en 2023: $ 918.4 millones.

Categoría de servicio	Volumen anual	Cuota de mercado
Servicios de recolección	3.2 millones de toneladas	42% del mercado regional
Eliminación de vertederos	2.7 millones de toneladas	35% de capacidad regional
Procesamiento de reciclaje	480,000 toneladas	28% de procesamiento regional

Servicios de reciclaje y eliminación del medio ambiente y reciclaje

Métricas de sostenibilidad para 2023:

• Reducción de gases de efecto invernadero: 127,000 toneladas métricas CO2 equivalente
• Generación de energía renovable: 18.5 millones de kWh
• Captura de metano del vertedero: 92% de eficiencia

Gestión rentable de residuos

Estructura de fijación de precios y eficiencia de rentabilidad:

Segmento de clientes	Costo anual promedio	Ahorro de costos
Municipios	$ 285 por tonelada	15% por debajo del promedio del mercado
Clientes comerciales	$ 342 por tonelada	12% por debajo del promedio del mercado

Tecnologías innovadoras de reciclaje y recuperación de recursos

Inversión tecnológica en 2023: $ 42.3 millones

• Eficiencia de tecnología de clasificación avanzada: 95.6%
• Tasa de recuperación de material: 68%
• Implementación de sistemas de seguimiento digital: 100% de la flota de colección

Enfoque de reducción de residuos sostenibles y economía circular

Indicadores de rendimiento de la economía circular:

Métrica de economía circular	2023 rendimiento	Cambio año tras año
Material reciclado	480,000 toneladas	+8.2%
Desechos desviados de los vertederos	22%	+3.5 puntos porcentuales
Compost producido	95,000 toneladas	+12.7%

Casella Waste Systems, Inc. (CWST) - Modelo comercial: relaciones con los clientes

Contratos de servicios municipales y comerciales a largo plazo

A partir de 2023, Casella Waste Systems administra aproximadamente 138 contratos de gestión de residuos a largo plazo con municipios y clientes comerciales. La duración promedio del contrato es de 7,2 años, con un valor total del contrato que alcanza $ 456.3 millones.

Tipo de contrato	Número de contratos	Valor total del contrato
Contratos municipales	89	$ 276.4 millones
Contratos comerciales	49	$ 179.9 millones

Atención al cliente dedicada y gestión de cuentas

La infraestructura de servicio al cliente incluye:

• Centro de atención al cliente 24/7
• Gerentes de cuentas dedicados para los 250 mejores clientes comerciales
• Tiempo de respuesta promedio de 12 minutos para consultas de servicio

Soluciones de gestión de residuos personalizadas

Casella ofrece servicios de gestión de residuos a medida en 6 estados, con 37 programas especializados de gestión de flujos de residuos para diferentes sectores de la industria.

Sector industrial	Programas especializados
Fabricación	12 programas
Cuidado de la salud	8 programas
Minorista	6 programas
Construcción	11 programas

Plataformas digitales para seguimiento e informes de servicios

Métricas de plataforma de servicio digital para 2023:

• 92% de los clientes comerciales que utilizan el portal en línea
• Más de 1.2 millones de solicitudes de servicio digital procesadas
• Seguimiento de residuos en tiempo real para el 86% de las cuentas comerciales

Programas de participación comunitaria y educación ambiental

Estadísticas de participación comunitaria para 2023:

• 43 Talleres de educación ambiental realizados
• Más de 8.500 participantes en programas de sostenibilidad
• $ 1.2 millones invertidos en iniciativas ambientales comunitarias

Casella Waste Systems, Inc. (CWST) - Modelo de negocios: canales

Equipo de ventas directas para clientes comerciales y municipales

A partir del cuarto trimestre de 2023, Casella Waste Systems mantiene una fuerza de ventas directa de 187 representantes de ventas dedicados dirigidos a clientes de gestión de residuos comerciales y municipales. El equipo de ventas cubre 6 estados del noreste de EE. UU. Con un ingreso promedio por representante de $ 2.3 millones anuales.

Métrico de canal de ventas	2023 datos
Representantes de ventas totales	187
Cobertura geográfica	6 estados del noreste
Ingresos promedio por representante	$ 2.3 millones

Portal de servicios en línea y aplicaciones móviles

La plataforma digital de Casella es compatible Más de 42,000 cuentas activas de clientes comerciales y residenciales. La aplicación móvil y el proceso del portal web aproximadamente 18,500 solicitudes de servicio mensualmente.

• Usuarios de la plataforma digital: más de 42,000 cuentas
• Solicitudes de servicio mensuales: 18,500
• Tasa de descarga de la aplicación móvil: 3.700 nuevos usuarios por trimestre

Centros de recolección y servicio de desechos locales

Casella opera 46 centros de servicios de reciclaje de desechos locales en el noreste de los Estados Unidos, con una capacidad de servicio anual de 2.7 millones de toneladas de procesamiento de residuos.

Métrico de centro de servicio	2023 datos
Centros de servicio totales	46
Capacidad anual de procesamiento de residuos	2.7 millones de toneladas
Estados atendidos	Noreste de EE. UU.

Ferias comerciales de la industria y conferencias ambientales

En 2023, Casella participó en 17 ferias comerciales de la industria y conferencias ambientales, generando aproximadamente $ 6.2 millones en nuevos contratos comerciales atribuidos directamente a estos eventos de redes.

Plataformas de marketing digital y redes sociales

Los canales de marketing digital de Casella incluyen:

• Seguidores de LinkedIn: 8,700
• Seguidores de Twitter: 3.200
• Presupuesto anual de marketing digital: $ 1.4 millones
• Sitio web Visitantes mensuales: 52,000

Casella Waste Systems, Inc. (CWST) - Modelo comercial: segmentos de clientes

Gobiernos municipales y autoridades locales

A partir de 2023, Casella Waste Systems atiende a aproximadamente 141 municipios en el noreste de los Estados Unidos.

Cobertura estatal	Número de municipios
Vermont	42
New Hampshire	38
Maine	33
Massachusetts	28

Negocios comerciales e industriales

En 2023, Casella administró servicios de desechos para más de 18,500 clientes comerciales e industriales.

• Ingresos anuales de recolección de residuos comerciales: $ 312.4 millones
• Volumen promedio de residuos comerciales: 1.2 millones de toneladas por año
• Los sectores atendidos incluyen: atención médica, minorista, fabricación, hospitalidad

Empresas de construcción y demolición

Casella procesó aproximadamente 1,5 millones de toneladas de desechos de construcción y demolición en 2023.

Tipo de desecho	Volumen anual (toneladas)
Concreto y agregado	675,000
Desechos de madera	425,000
Rebos C&D mixtos	400,000

Servicios de recolección de residuos residenciales

Casella ofrece servicios de desechos residenciales a aproximadamente 136,000 hogares en sus regiones operativas.

• Ingresos de recolección de residuos residenciales: $ 187.6 millones en 2023
• Volumen promedio de residuos residenciales: 0.8 millones de toneladas por año

Organizaciones ambientales y centradas en la sostenibilidad

Casella apoya 237 asociaciones organizacionales centradas en la sostenibilidad en 2023.

Tipo de asociación	Número de organizaciones
Iniciativas de reciclaje	124
Programas de desechos cero	68
Investigación ambiental	45

Casella Waste Systems, Inc. (CWST) - Modelo de negocio: Estructura de costos

Mantenimiento de la flota de vehículos y gastos de combustible

A partir del informe anual de Casella 2023, la compañía opera una flota de aproximadamente 1,200 vehículos de recolección de residuos. Los gastos anuales relacionados con la flota totalizaron $ 78.3 millones, con el desglose de la siguiente manera:

Categoría de gastos	Monto ($)
Costos de combustible del vehículo	42,500,000
Mantenimiento del vehículo	22,800,000
Arrendamiento/depreciación del vehículo	13,000,000

Costos de operación del vertedero y cumplimiento ambiental

El cumplimiento ambiental y los gastos operativos del vertedero para 2023 fueron significativos:

• Costos totales de cumplimiento ambiental: $ 35.6 millones
• Gastos de mantenimiento del vertedero: $ 24.9 millones
• Monitoreo ambiental e informes: $ 6.7 millones

Gestión laboral y de la fuerza laboral

Los costos de gestión de la fuerza laboral de Casella para 2023 incluyeron:

Categoría de gastos laborales	Monto ($)
Nómina total	187,500,000
Beneficios para empleados	42,300,000
Capacitación y desarrollo	3,200,000

Inversiones de tecnología y equipos

Gastos de capital para tecnología y equipo en 2023:

• Inversiones tecnológicas totales: $ 22.1 millones
• Equipo de recolección de residuos: $ 15.3 millones
• Actualizaciones de tecnología de reciclaje: $ 6.8 millones

Procesamiento de residuos y reciclaje de gastos operativos de la instalación

Costos operativos para las instalaciones de procesamiento de residuos en 2023:

Gastos operativos de la instalación	Monto ($)
Mantenimiento de la instalación	18,700,000
Costos de servicios públicos	7,500,000
Depreciación del equipo de procesamiento	12,300,000

Casella Waste Systems, Inc. (CWST) - Modelo comercial: flujos de ingresos

Tarifas de servicio de recolección de residuos

Para el año fiscal 2023, Casella Waste Systems reportó ingresos totales del servicio de recolección de $ 919.3 millones. La compañía atiende a aproximadamente 1,2 millones de clientes residenciales y comerciales en todo el noreste de los Estados Unidos.

Segmento de clientes	Ingresos anuales	Porcentaje de ingresos por cobro
Servicios residenciales	$ 412.5 millones	44.9%
Servicios comerciales	$ 506.8 millones	55.1%

Venta de material de reciclaje

En 2023, Casella generó $ 187.6 millones a partir de las ventas de materiales de reciclaje, con un desglose clave de los productos básicos de la siguiente manera:

• Cartón: $ 78.3 millones
• Papel mixto: $ 42.5 millones
• Plastics: $ 33.2 millones
• Metales: $ 33.6 millones

Cargos de eliminación de vertederos

Los ingresos por eliminación de vertederos para 2023 totalizaron $ 345.2 millones, con una tarifa promedio de propina de $ 52.30 por tonelada en su red de 13 vertederos propios.

Ubicación de vertedero	Volumen de eliminación anual	Contribución de ingresos
Instalaciones de Vermont	1.2 millones de toneladas	$ 62.8 millones
Instalaciones de New Hampshire	1.5 millones de toneladas	$ 78.6 millones
Otras instalaciones del noreste	2.3 millones de toneladas	$ 203.8 millones

Soluciones de consultoría y gestión de residuos

Los servicios especializados de consultoría de gestión de residuos generaron $ 54.7 millones en 2023, con áreas de servicio clave que incluyen:

• Gestión de residuos industriales
• Consultoría de cumplimiento ambiental
• Optimización de la corriente de residuos

Generación de energía de proyectos de residuos a energía

Las iniciativas de desechos de la energía de Casella produjeron $ 23.4 millones en ingresos para 2023, con 87.6 millones de kilovatios-horas de electricidad generadas en tres instalaciones operativas.

Ubicación de la instalación	Electricidad generada	Ganancia
Instalación de Vermont	32.4 millones de kWh	$ 8.6 millones
Instalación de New Hampshire	38.2 millones de kWh	$ 10.3 millones
Instalación de Maine	17.0 millones de kWh	$ 4.5 millones

Casella Waste Systems, Inc. (CWST) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Casella Waste Systems, Inc. over the competition. It boils down to being a comprehensive, reliable partner focused on the long-term health of the waste stream in the Northeast and Mid-Atlantic.

Integrated, full-service solid waste and resource management is the foundation. Casella Waste Systems, Inc. offers everything from collection to disposal, wrapped up in one service structure for the customer. This integrated approach is key to their footprint, which spans operations in 10 contiguous states across the Eastern U.S..

The company delivers on its promise of sustainability through tangible resource management efforts. This includes developing and managing sustainable solutions like Landfill Gas-to-Energy (LFGTE) and organics diversion programs. While infrastructure at two specific sites is third-party owned, the commitment is clear in their operations, helping customers meet visionary sustainability commitments, especially with college and university clients.

You get reliable service across a dense Northeast and Mid-Atlantic footprint. This regional density is a strategic advantage, allowing for better route optimization and cost control. The company has seen significant success integrating acquired businesses, like the GFL Environmental assets, which has expanded their footprint into the Mid-Atlantic region.

A major value driver is the consistent solid waste price growth, which reflects strong contract management and necessary service value. For the third quarter of 2025, solid waste pricing was up 4.6% year-over-year, broken down into 4.7% collection price growth and 4.6% disposal price growth. This pricing strength, combined with healthy landfill volumes up 11.7% year-over-year in Q3 2025, drives financial predictability.

Casella Waste Systems, Inc. provides customized resource solutions for large institutional customers. This is evident in the performance of the Resource Solutions segment, where National Accounts revenue grew 16.5% year-over-year in Q3 2025. They are actively working with these large customers to manage complex waste streams effectively.

Here's a quick look at how the revenue streams, which underpin these value propositions, were structured based on the latest available data for the twelve months ended September 30, 2025:

Line of Business	Percentage of Revenue
Collection	64.7%
Disposal	14.6%
Resource Solutions National Accounts	12.1%
Resource Solutions Processing	7.5%
Energy & Processing	1.0%

The company completed eight acquisitions year-to-date in 2025, adding approximately $105 million in annualized revenue, showing a commitment to growing the value proposition through disciplined expansion.

You can count on these core offerings:

• Integrated service delivery across the region.
• Pricing power in collection and disposal services.
• Growth in high-value National Accounts.
• Focus on sustainability projects like RNG.
• Strong landfill volume growth of 11.7% in Q3 2025.

Finance: draft 13-week cash view by Friday.

Casella Waste Systems, Inc. (CWST) - Canvas Business Model: Customer Relationships

You're looking at how Casella Waste Systems, Inc. locks in its revenue base, and the numbers show a heavy reliance on long-term agreements and successful integration of acquired customer books. As of late 2025, the updated full-year revenue guidance sits between \$1.82 billion and \$1.84 billion.

Dedicated National Accounts team for multi-site customers

The National Accounts business, part of the Resource Solutions segment, is a clear driver of organic growth. For the first quarter of fiscal year 2025, this segment delivered 10.9% organic growth, which included 7.4% volume growth. This momentum continued into the third quarter of 2025, where the segment showed strong growth, supporting the overall revenue performance.

Contractual relationships with municipalities for stable revenue

Stability comes from the pricing power embedded in collection and disposal contracts, which are often municipal or long-term commercial. Across the first three quarters of 2025, solid waste pricing showed consistent increases:

• Q1 2025: Pricing up 5.6% overall.
• Q2 2025: Pricing up 5.0% overall.
• Q3 2025: Pricing up 4.6% overall.

This pricing strength helped offset volume headwinds in collection. For instance, landfill tons, which reflect disposal contract utilization, were up 3.9% in Q1 2025 and up 9.5% year-over-year in Q2 2025.

The scale of the operation supporting these relationships is significant. As of January 31, 2025, Casella Waste Systems, Inc. owned and/or operated 71 solid waste collection operations and 71 transfer stations.

Metric	Q1 2025	Q2 2025	Q3 2025
Total Revenue (Millions USD)	$417.1	$465.3	$485.4
Solid Waste Pricing Growth (YoY)	5.6%	5.0%	4.6%
National Accounts Organic Growth (YoY)	10.9%	Not Specified	Strong Growth
Acquisitions YTD Annualized Revenue (Millions USD)	~$50	~$90 (Six deals)	~$105 (Eight deals)

High-touch customer care for service reliability and issue resolution

The company's growth strategy heavily involves integrating acquired customer bases. Through the first nine months of 2025, Casella Waste Systems, Inc. completed eight acquisitions representing approximately \$105 million of annualized revenue, with the pending Mountain State Waste acquisition expected to add another \$30 million. Successfully integrating these customer relationships is key to realizing projected synergies.

Deep community engagement for local franchise contract retention

The company's footprint expansion through acquisitions is targeted to solidify service areas, such as filling in territory in Maryland and Pennsylvania in early 2025. In the first half of 2025, Casella Waste Systems, Inc. completed six acquisitions adding over \$90 million in annualized revenue.

Self-service options for simple account management

Specific statistical data regarding the usage rates or adoption of self-service digital account management tools for the 2025 fiscal year isn't publicly itemized in the earnings releases.

Casella Waste Systems, Inc. (CWST) - Canvas Business Model: Channels

You're looking at how Casella Waste Systems, Inc. gets its services and value propositions into the hands of its customers across the Eastern U.S. It's a very physical business, so the channels are heavily weighted toward tangible assets and local presence.

Direct sales force and business development teams

The direct sales effort is crucial for securing the commercial, municipal, and industrial contracts that drive the majority of revenue. This team works to place the right service level, from front-load commercial to specialized industrial solutions. The disciplined growth strategy is heavily reliant on this team's ability to execute on the acquisition pipeline, which as of the first nine months of 2025, included the completion of eight businesses totaling approximately $105 million in annualized revenue, with the pending Mountain State Waste transaction expected to add another $30 million.

Local collection routes and transfer stations

This is the backbone of the operation, covering the secondary and tertiary markets across 10 contiguous states in the Eastern U.S. The physical network of collection operations and transfer points is what allows Casella Waste Systems, Inc. to service its customer base efficiently. The company operates a network of over 700 collection vehicles that service customers from western New York to northern Maine. The pricing power in the collection line of business was evident in Q3 2025, with price up 4.7% year-over-year.

The scale of the physical infrastructure used for collection and initial material consolidation is significant:

• 32 solid waste collection operations.
• 31 transfer stations.
• Collection service territory covers shaded areas on their operational map.

Digital channels for customer service and billing

While the service is physical, digital channels support the relationship, especially for payment and account management. The company provides quick links for customer support functions like Pay My Bill and Request a Quote on its digital platforms. Efficiency in collecting receivables is a key operational metric; Days Sales Outstanding (DSO) was reported at 34 days as of Q2 2025, down 4 days year-over-year. This suggests the digital and administrative processes are helping to keep cash flow moving, with Net cash provided by operating activities year-to-date Q3 2025 at $233.2 million.

Landfills and processing facilities for third-party disposal

The disposal assets are critical for capturing revenue from waste that Casella Waste Systems, Inc. collects and from third parties, which is a key driver of profitability. Disposal revenue represented approximately 14.6% of consolidated revenue for the 12 months ended September 30, 2025. Landfill operations showed strong volume growth, with same-store tons up 11.7% in Q3 2025.

Here is a breakdown of the key disposal and processing assets that serve as channels for material flow:

Facility Type	Count (As of late 2025)	Associated Revenue Share (12 mos ended 9/30/25)
Subtitle D Landfills	9	Part of Disposal segment (14.6%)
Landfill Permitted for C&D	1	Part of Disposal segment (14.6%)
Recycling Facilities (MRFs)	37	Part of Resource Solutions Processing (7.5%)
Waste-to-Energy Facility	1	Part of Energy G Processing (1.0%)

Community engagement and local government relations

For a regional operator, maintaining strong local relationships is a necessary channel for securing and retaining municipal contracts and ensuring smooth operations at disposal sites. Casella Waste Systems, Inc. provides services to municipalities and assists them in managing their Solid Waste Implementation Plans. The company emphasizes its role as a responsible corporate citizen through its core values of service, integrity, innovation, teamwork, responsibility, and trust. In Vermont alone, host community fees, taxes, and other benefits totaled $17,701,300 based on 2022 data, showing a tangible channel of local economic benefit.

The customer base served through these channels is diverse:

• Over 170,000 combined residents, businesses, institutions, and municipalities.
• Services provided to Homeowners, Small Business, Manufacturers, Government, Schools, Hospitals, Construction, Multi-location business, and Electric utilities.

The company also engages in continuous outreach encouraging customers to Recycle Better™.

Finance: review Q3 2025 capital expenditure of $187.8 million year-to-date against the 2025 guidance for Adjusted Free Cash Flow by end of week.

Casella Waste Systems, Inc. (CWST) - Canvas Business Model: Customer Segments

You're looking at the customer base for Casella Waste Systems, Inc. as of late 2025. This is a dense mix of public and private entities across the Northeast and beyond.

Overall, Casella Waste Systems, Inc. serves over 1 million residential, commercial, municipal, institutional, and industrial customers across 10 eastern states, while also providing resource management services to over 10,000 customer locations in 40+ states as of mid-2025.

The company's operational footprint as of January 31, 2025, included 71 solid waste collection operations, 71 transfer stations, and 8 Subtitle D landfills.

Here is a breakdown reflecting the segments you mentioned, supported by recent financial performance data:

Residential customers in exclusive and competitive markets

• Part of the base of over 1 million total customers served across 10 eastern states.
• Collection pricing growth was 4.9% in Q2 2025 and 5.8% in Q1 2025, impacting this segment.

Commercial and industrial businesses (small to large)

• Included in the total customer base of over 1 million.
• Front-load commercial collection pricing was up 5.9% year-over-year in Q2 2025.
• Collection volumes dipped 1.7% in Q1 2025, reflecting weaker roll-off and transfer station activity.

Municipal governments with long-term service contracts

• These contracts form a core part of the service area across the company's regions.
• Solid waste pricing, which covers municipal contracts, rose 5.6% year-over-year in Q1 2025.

Institutional clients (colleges, hospitals) with zero-waste goals

• These clients are served through the general collection and resource management services.
• The company's services prevent an estimated 5.6 tons of greenhouse gas emissions elsewhere in the economy for every ton Casella emits through operations.

National Accounts requiring multi-site resource solutions

This segment shows significant growth momentum, often reported within the Resource Solutions revenue stream.

Metric	Value/Period	Source Data Point
National Accounts Revenue Growth (YoY)	Up 16.5%	Q3 2025
National Accounts Revenue Growth (YoY)	Up 10.6%	Q2 2025
National Accounts Volume Growth (YoY)	Up 8.6%	Q3 2025
National Accounts Revenue Growth (YoY)	Up 7.4%	Q1 2025

The growth in this segment is a key driver, contributing to the Q3 2025 total revenue of $485.4 million. The company completed eight acquisitions year-to-date in 2025, adding approximately $105 million in annualized revenue, which directly impacts the scale of services offered to these large customers. The full-year 2025 revenue guidance was raised to a midpoint of $1.835 billion.

Finance: review Q4 2025 segment contribution projections by next Tuesday.

Casella Waste Systems, Inc. (CWST) - Canvas Business Model: Cost Structure

You're looking at the hard costs Casella Waste Systems, Inc. (CWST) faces to keep its operations running and growing as of late 2025. This structure is heavily influenced by asset intensity and recent expansion.

High capital expenditure for fleet and facility maintenance

The need to maintain and expand the physical assets-trucks, transfer stations, and recycling equipment-drives substantial cash outlay. For the first nine months of 2025, capital expenditures totaled $187.8 million. This represented a significant year-over-year increase of $61.4 million. A large portion of this was dedicated to growth, with $54 million specifically cited as upfront investment in recent acquisitions during that nine-month period. For the first half of 2025, capital expenditures were reported at $121.9 million, which included $40 million for upfront acquisition investment.

Significant depreciation and amortization from acquisition growth

The frequent acquisitions Casella Waste Systems, Inc. executes translate directly into higher non-cash charges on the income statement. In the third quarter of 2025, depreciation and amortization costs rose by $19.7 million compared to the prior year period. Of that increase, $9.6 million was directly attributable to the recent acquisition activity, including the amortization of acquired intangibles. This trend puts pressure on GAAP net income, as seen when Q2 2025 net income was down (16.3)% year-over-year, primarily due to this higher depreciation and amortization expense.

Rising labor costs, particularly for drivers and technicians

Overall operational costs reflect the tight labor market for essential roles like drivers. Total operating expenses for the twelve months ending September 30, 2025, reached $1.725B, marking a 21.32% increase year-over-year. For the fiscal quarter ending in September of 2025, operating expenses were $451.36 million. While pricing power helps offset some of this, the sheer scale of the expense base is a major cost factor. The company is actively working on efficiency, with routing projects completed that reduced driver headcount requirements.

Fuel and energy costs for collection and disposal logistics

Logistics are inherently tied to volatile commodity prices. While specific 2025 fuel cost figures aren't isolated, the scale of consumption is clear from prior data: in fiscal year 2024, Casella Waste Systems, Inc. consumed approximately 14 million gallons of diesel fuel for its solid waste operations. The company uses fuel cost recovery programs, but contractual limits mean they don't always pass the full cost through immediately.

Landfill operating and environmental compliance expenses

Managing disposal assets involves significant long-term liability costs. Beyond the day-to-day operating expenses, there are specific compliance and closure costs. For instance, in Q3 2024, there was a charge related to a landfill capping veneer failure in Seneca, New York, which was reimbursed later. Furthermore, the amortization of landfill costs, which covers estimated future closure and post-closure obligations, is a component of the overall depreciation and amortization calculation. Interest accretion on landfill and environmental remediation liabilities was a component of non-GAAP add-backs in prior periods, showing the ongoing financial impact of these sites.

Here's a snapshot of key cost and expense metrics for Casella Waste Systems, Inc. around the third quarter of 2025:

Cost/Expense Metric	Amount (Latest Available)	Period/Context
Total Operating Expenses (TTM)	$1.725B	Twelve Months ending September 30, 2025
Operating Expenses	$451.36 million	Fiscal Quarter ending September 2025
Capital Expenditures	$187.8 million	First 9 Months of 2025
Acquisition-Related CapEx	$54 million	Upfront investment in recent acquisitions, 9M 2025
Depreciation & Amortization Increase (YoY)	$19.7 million	Q3 2025
Acquisition Impact on D&A Increase	$9.6 million	Q3 2025
Cost of Operations Increase (YoY)	$48.1 million	Q3 2025
Interest Expense on Debt	$13 million	Quarter ending September 2025

The cost structure is clearly weighted toward maintaining and expanding a physical network, which means high fixed costs like depreciation and CapEx are always present. You can see the impact of growth in the Cost of Operations, where $39 million of the $48.1 million increase in Q3 2025 Cost of Operations came from acquisitions.

• Acquisitions contributed approximately 74% of the year-over-year increase in Cost of Operations in Q3 2025.
• The base business saw Cost of Operations decrease by 100 basis points as a percentage of revenue on a same-store basis in Q3 2025.
• The company reaffirmed its 2025 Adjusted EBITDA guidance range of $410 million to $425 million despite the rising costs.

Finance: draft 13-week cash view by Friday.

Casella Waste Systems, Inc. (CWST) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers that drive Casella Waste Systems, Inc.'s top line as we head into the final part of 2025. The company has a clear view of its expected performance for the year, reflecting confidence gained from strong first-half execution, especially through acquisitions.

The full-year 2025 revenue guidance is set between $1.82 billion to $1.84 billion. This is an upward revision from earlier estimates, showing the impact of their growth strategy taking hold.

To understand where that revenue comes from, let's break down the key drivers, using the most recent quarterly data from the second quarter of 2025. This is where you see the pricing power in action:

Revenue Stream Component	Q2 2025 Price/Volume Change Metric	Observed Q2 2025 Growth Rate	Q2 2025 Revenue Contribution (If Available)
Solid Waste Collection Fees	Collection Price Growth (Year-over-Year)	Up 4.9%	$297.90 million (Collection Services)
Disposal Fees from Owned Landfills	Disposal Price Growth (Year-over-Year)	Up 5.8%	$71.58 million (Disposal Activities)
Total Solid Waste Pricing	Overall Solid Waste Price Increase (Year-over-Year)	Up 5.0%	$373.62 million (Total Solid Waste Segment)

That table shows you the core business is successfully passing through costs. The total Q2 2025 revenue hit $465.3 million, which was up 23.4% year-over-year, with about $67.1 million of that coming from acquisitions, including rollover.

Now, let's look at the Resource Solutions side, which covers recycling and commodity sales. This area has different dynamics, often tied to fluctuating market prices for materials. Here are the key figures from Q2 2025:

• Resource Solutions segment revenue grew 10.2% year-over-year.
• Specific Resource Solutions revenue was reported at approximately $95.8 million or $91.71 million for the quarter.
• Average commodity sales prices were down 16% from the previous year.
• Processing volume, in revenue terms, was up 8.6%, helped by higher volumes at the Boston and Willimantic recycling facilities.

For organics and other resource solutions service fees, the growth is embedded within the Resource Solutions segment performance. The company is seeing strong National Accounts growth in this area, with National Accounts revenue price up 5.9% and volume up 1.9% in the second quarter.

The company completed six acquisitions in the first half of 2025, adding approximately $90 million in annualized revenue, which directly feeds into these revenue streams. Finance: draft 13-week cash view by Friday.