Filing Flows › Casella Waste Systems (CWST) › Q2 2026
Casella Waste Systems (CWST) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Casella Waste Systems (CWST) reported revenue of $544M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +19% from the quarter before. Operating margin was 3.7%, net earnings $3.8M (0.7% of revenue).
Casella Waste Systems, Q2 2026: revenue $544M (+17% year over year), operating margin 3.7%, net earnings $3.8M, operating cash flow $98.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $544M | +19% | +17% |
| Operating profit | $20.0M | +311% | +4% |
| Net earnings | $3.8M | — | -28% |
| Operating cash flow | $98.8M | +59% | +10% |
| Free cash flow | $47.5M | — | +14% |
What changed
Revenue was $543.7M in Q2 2026, up 17% year over year and up 19% from the previous quarter. Collection was the largest line at 65% of revenue. Collection added $57.1M year over year (up 19%), 73% of the total change. Landfill gas-to-energy declined 8%.
Operating profit was $20.0M, a 3.7% margin (down 0.5 points year over year). Of the extra revenue versus Q2 2025, 1% reached operating profit, below the 4% margin then. Total costs grew 17% against revenue growth of 17%. The fastest-growing cost line was Cost of revenue (+18%). Net earnings were $3.8M, down 28% year over year. The effective tax rate was -12.0%.
Operating cash flow was $98.8M (up 10% year over year), 2620% of net earnings. Non-cash charges added back $88.5M of depreciation and amortization and $4.0M of share-based compensation. After capital expenditures, net ($51.3M), adjusted free cash flow as the company reports it was $47.5M.
Questions
What was Casella Waste Systems' revenue in the second quarter 2026?
Casella Waste Systems (CWST) reported revenue of $544M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +19% from the quarter before.
Was Casella Waste Systems profitable in the second quarter 2026?
Operating profit was $20.0M (3.7% of revenue) and net earnings $3.8M.