Casella Waste Systems Inc. reported unaudited consolidated earnings results for the second quarter and six months ended October 31, 2014. For the quarter ended October 31, 2014, revenues were $141.3 million, up $9.0 million, or 6.8%, from the same quarter last year, with revenue growth mainly driven by higher disposal volumes, higher solid waste collection pricing, customer solutions growth, and acquisition activity. Operating income was $10.1 million for the quarter, up $0.6 million from the same quarter last year. Adjusted EBITDA was $30.7 million for the quarter, up $1.5 million from the same quarter last year. Excluding the impact of the closure of the Worcester landfill in early calendar year 2014, Adjusted EBITDA was up $2.5 million from the same quarter last year. he company's net income attributable to common stockholders was $0.3 million, or $0.01 per common share for the quarter ended October 31, 2014 compared to a net loss of $0.3 million, or $0.01 per common share, for the same quarter last year. Adjusted Operating income was $10,652,000 against $9,657,000 a year ago. Net cash provided by operating activities was $9,253,000 against $8,593,000 a year ago. Capital expenditures were $18,667,000 against $12,652,000 a year ago. Free cash flow negative was $10,727,000 against $4,903,000 a year ago.

For the six months ended October 31, 2014, revenues were $282.7 million, up $21.8 million, or 8.4% from the same period last year. Operating income was $19.4 million, up $0.2 million, or 1.0% from the same period last year. The company's net loss attributable to common shareholders was $0.0 million, or $0.00 per common share for the six months ended October 31, 2014, compared to a net loss of $0.5 million, or $0.01 per common share for the same period last year. Net cash provided by operating activities was $22,834,000 against $28,119,000 a year ago. Additions to property, plant and equipment was $35,548,000 against $26,059,000 a year ago. Adjusted Operating income was $20,261,000 against $19,523,000 a year ago. Free cash flow was negative $14.8 million year-to-date. This decline was due to mainly 2 factors: one, the planned cash outflows associated with the capping and closure of the Worcester landfill; the final clean-up and site improvements at Maine Energy and BioFuels.

The company reaffirmed its operating guidance for the 8-month transition period ending December 31, 2014 in the following categories: Revenues between $356.0 million and $366.0 million. Adjusted EBITDA expects between $71.0 million and $75.0 million. Capital expenditures expects between $52.0 million and $55.0 million. Free cash flow expects between negative $14 million and negative $17 million.

In addition, the company reaffirmed guidance for its next full fiscal year, which will run from January 1, 2015 through December 31, 2015, by estimating results in the following ranges: Revenues between $520.0 million and $530.0 million; Adjusted EBITDA between $103.0 million and $107.0 million; and free cash flow between $14.0 million and $18.0 million. The company expects CapEx to be roughly 8% to 9% of revenues.