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Fiscal Year 2023 Outlook
"We have executed very well against our growth strategy this year. Given the expected contribution from acquisitions closed year-to-date and continued pricing above our cost inflation, partially offset by recent weakness in landfill special waste volumes, we are updating certain fiscal year 2023 guidance ranges," Casella said. "These updated guidance ranges assume stable economic activity levels for the remainder of the year."
The Company raised guidance for fiscal year 2023 by estimating results in the following ranges:
•Revenues between $1.255 billion and $1.280 billion (raised from a range between $1.240 billion and $1.265 billion);
•Adjusted EBITDA between $292 million and $298 million (raised from a range between $289 million and $295 million); and
•Adjusted Free Cash Flow between $125 million and $131 million (raised from a range between $123 million and $129 million).
The Company reaffirmed certain guidance for fiscal year 2023 by estimating results in the following range:
•Net cash provided by operating activities between $231 million and $237 million.
The Company updated certain guidance for fiscal year 2023 by estimating results in the following range:
•Net income between $33 million and $39 million (updated from a range between $41 million to $47 million) with the reduction primarily associated with the recent acquisition activity, with depreciation and amortization up $11.0 million, interest
2
expense net up $2.0 million, and expense from acquisition activities up $3.0 million, partially offset by a $3.5 million lower income tax provision.
Adjusted EBITDA and Adjusted Free Cash Flow related to fiscal year 2023 are described in the Reconciliation of Fiscal Year 2023 Outlook Non-GAAP Measures section of this press release. Net income and Net cash provided by operating activities are provided as the most directly comparable GAAP measures to Adjusted EBITDA and Adjusted Free Cash Flow, respectively, however these forward-looking estimates for fiscal year 2023 do not contemplate any unanticipated impacts.
Posted In: CWST
