Let’s dig into the relative performance of Casella Waste Systems (NASDAQ: CWST) and its peers as we unravel the now-completed Q2 waste management earnings season.
Waste management companies can possess licenses permitting them to handle hazardous materials. Furthermore, many services are performed through contracts and statutorily mandated, non-discretionary, or recurring, leading to more predictable revenue streams. However, regulation can be a headwind, rendering existing services obsolete or forcing companies to invest precious capital to comply with new, more environmentally-friendly rules. Lastly, waste management companies are at the whim of economic cycles. Interest rates, for example, can greatly impact industrial production or commercial projects that create waste and byproducts.
The 8 waste management stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 0.8%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9.6% since the latest earnings results.
Casella Waste Systems (NASDAQ: CWST)
Starting with the founder picking up garbage with a pickup truck he purchased using savings from high school, Casella (NASDAQ: CWST) offers waste management services for businesses, residents, and the government.
Casella Waste Systems reported revenues of $543.7 million, up 16.9% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
“We delivered another quarter of solid financial and operating performance as our teams continued to execute at a high level across the business,” said Ned Coletta, President and CEO of Casella Waste Systems, Inc.
Casella Waste Systems achieved the fastest revenue growth and highest full-year guidance raise in the group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 2.7% since reporting and currently trades at $88.
Is now the time to buy Casella Waste Systems? Access our full analysis of the earnings results here, it’s free.
Best Q2: Clean Harbors (NYSE: CLH)
Established in 1980, Clean Harbors (NYSE: CLH) provides environmental and industrial services like hazardous and non-hazardous waste disposal and emergency spill cleanups.
Clean Harbors reported revenues of $1.74 billion, up 11.9% year on year, outperforming analysts’ expectations by 6.1%. The business had a stunning quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.
Clean Harbors scored the biggest analyst estimate beat of the whole group. The market seems happy with the results as the stock is up 5.4% since reporting. It currently trades at $320.05.
Is now the time to buy Clean Harbors? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Perma-Fix (NASDAQ: PESI)
Tackling hazardous waste challenges since 1990, Perma-Fix (NASDAQ: PESI) provides environmental waste treatment services.
Perma-Fix reported revenues of $12.89 million, down 11.7% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
As expected, the stock is down 36.6% since the results and currently trades at $12.32.
Read our full analysis of Perma-Fix’s results here.
Republic Services (NYSE: RSG)
Processing several million tons of recyclables annually, Republic (NYSE: RSG) provides waste management services for residences, companies, and municipalities.
Republic Services reported revenues of $4.43 billion, up 4.6% year on year. This result beat analysts’ expectations by 1.5%. It was a satisfactory quarter as it also produced a decent beat of analysts’ EBITDA estimates.
The stock is up 10.2% since reporting and currently trades at $231.04.
Read our full, actionable report on Republic Services here, it’s free.
Onterris (NYSE: ONT)
Founded to protect a tree-lined two-lane road, Onterris (NYSE: ONT) provides air quality monitoring, environmental laboratory testing, compliance, and environmental consulting services.
Onterris reported revenues of $186.7 million, down 20.4% year on year. This number lagged analysts’ expectations by 6.3%. It was a softer quarter as it also recorded full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.
Onterris had the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update among its peers. The stock is down 37.9% since reporting and currently trades at $14.05.
Read our full, actionable report on Onterris here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
