Casella Waste Systems, Inc.

Good day, and thank you for standing by. Welcome to the Casella Waste Systems Inc. Q2 2025 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Brian Butler, VP of Investor Relations. Please go ahead.

Thank you, Daniel. Good morning, and thank you for joining us on the call. Today, we'll be discussing our second quarter 2025 results, which were released yesterday afternoon. This morning, I'm joined with John Casella, Chairman and Chief Executive Officer of Casella Waste Systems, Ned Valletta, our President, Brad Helgeson, our Chief Financial Officer, and Sean Steeves, our Senior Vice President and Chief Operating Officer of Solid Waste Operations. After a review of these results and an update on the company's activities and business environment, we'll be happy to take your questions. But first, please note that various remarks we may make about the company's future expectations, plans, and prospects constitute forward-looking statements for the purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factors section of our most recent Form 10-Q, which is on file with the FCC. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views on any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if our views change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to today, August 1st, 2025. Also during this call, we'll be referring to non-GAAP financial measures. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures, to the extent they are available without unreasonable effort, are included in our press release filed on Form 8K with the FDC. And with that, I will now turn over the call to John Casella to begin our discussion.

John? Thanks, Brian, and good morning, everyone. Welcome to our second quarter 2025 conference call. In June, we proudly rang the NASDAQ opening bell to commemorate Pasala's 50th anniversary. This milestone marks our evolution from a single truck operation in Vermont to a leading provider of waste recycling and resource management services across the Northeast and now into the Mid-Atlantic. Over five decades of growth, our dedicated team has consistently delivered exceptional service and industry leadership, all while staying true to our core values and working toward a cleaner, more sustainable future. I'd like to sincerely thank all of our employees for their grit, hard work, and commitment every day. The celebration was not only a reflection of our past, but also a reaffirmation of our vision for the future. It highlighted the strength of our culture, the resilience of our business model, and the deep trust we've built with our customers and communities. We're incredibly proud of the legacy we've created and energized by the opportunities ahead. Turning to the quarter, we delivered another strong performance in Q2, with robust growth in both revenue and adjusted EBITDA. Year to date, we've achieved record first half adjusted free cash flow over $70 million, more than $30 million above the same period last year. These results reflect solid execution, meaningful contributions from our recent acquisitions, Pricing remains healthy with solid waste pricing up 5% year over year. We continue to execute well on our operating plans, driving meaningful margin improvement across our legacy business. This performance has been partially offset by some growing pains in the Mid-Atlantic as we work through the transition to our systems and getting the acquired fleet up to our standards. We are executing on a plan to rapidly get this performance on track. Elsewhere, landfill volumes were up nicely year over year, and our resource solutions segment continued to perform very well, driven by improved performance at our upgraded recycling facilities. We've now completed six acquisitions year to date, representing about $90 million in annualized revenues, and we're excited about the pending acquisition of Mountain State Waste, which will expand our footprint in Pennsylvania and also into West Virginia, adding another $30 million in annualized revenues. Look forward to welcoming their employees and customers to the Casella family and integrating their operations into our broader network. Our M&A pipeline remains full of targets that align perfectly with our strategy, and our strong balance sheet positions us to continue to pursue and complete these deals opportunistically. Looking ahead, we raised our full year revenue guidance, reflecting on the continued strength of our core pricing and acquisition activity, and reaffirmed our adjusted EBITDA and adjusted free cash flow guidance ranges, representing another year of record financial results. And with that, I'll turn it over to Brad to walk through the financials in more detail.