and now includes any person or entity who: irrespective of the selling technique used such as dealer, 2. So, John, what is the trend on service intervals, new business formation, temporary roll-off asset utilization? Voter registration, polling locations, absentee voting, & election information, Paying your bills online quick and easily, Receive email or text notifications and emergency alerts, Find current job openings and submit your application or resume online, Simple and quick access to read and download permits online. Discover the Paris metro map. I can't thank our hard-working team members enough for all of their contributions to our success. So we've chosen to make that -- it's an incrementally positive step to go to C&G. California Mandatory Recycling Laws - Waste Management So to Devina's point, there's a little pensiveness by the field, and we understand it's to send those trucks back, whether it's rentals or surplus assets. With the mass electrification of transportation, recycling of batteries is a growing concern in India as a significant part of discarded batteries eventually end up in garbage disposals. I think we benefited from -- we've talked a lot about our brokerage business being part of the recycling portfolio, and what that's always -- what that's added to us as a benefit is our ability to move the material. I think -- when it all comes down to it, I think we talk about automation and optimization. It's not a negative. With WM as your partner, you can count on reliable service and solutions that help keep our community sustainable, clean and safe. I want to point out a couple of things that happened in Q1 that we don't see as indicative of the margins that we'll expect for the remainder of the year. Our disciplined organic revenue growth and focus on optimization and cost control are expected to drive year-over-year margin expansion for the remainder of the year, particularly in the third and fourth quarters. Waste Management . Thank you for standing by and welcome to the WM first-quarter 2023 earnings conference call. Properly labeled invasive plant species (PDF) may be placed at the curb. When we talk about it probably four years ago, we're talking about something less than 1%. So look, Jim, I don't want to get into the comparison game, but one of your competitors showed core pricing accelerated in Q1. These results demonstrate our success in rationalizing costs and optimizing our sales and customer experience functions. Our interactive Paris metro map is designed to make your journeys easier; it is available online and downloadable in PDF format. You will hear prepared comments from each of them today. Yeah. As a result, our focus on optimizing performance and reducing costs in the solid waste business through technology and automation is critically important and will serve to further separate us from our competition. Garbage & Recycling Service | City of Conroe Our next question comes from the line of Noah Kaye with Oppenheimer. But I've got a lot of questions this morning. So I'm wondering, as you're thinking about the cadence, is there a potential for margins to be up stronger sequentially than the typical two points that we've seen in the past. Log in Sign up Just wanted to get that confirmation. Obviously, the banking crisis sort of doesn't impact your business as much as some of the other business services companies. It's really about permanently lowering our operating expense exposure. Because I think there's some waiting issue there that people should appreciate given that 70% of your index is happening now and it's a number from last summer, not the end of the calendar year. RIN pricing is probably a little bit against us right now. EPR mechanism under the 2016 Rules focused more on the producer's responsibility to collect back the e-waste introduced in the market and provided collection targets, whereas the EPR regime under 2022 Rules provides an annual e-waste recycling targets to the producers. Thanks, Jim and good morning. Waste Management will be able to assist businesses in determining the appropriate garbage service levels for number of containers, size of containers and pick-up frequency. Holiday Waste Pickup Schedule | WM - Waste Management Your line is open. So we are hearing that, that turnover has become a consistent and recurring problem for a lot of those companies. Excellent. This means food scraps are no longer . Given this, Chesterfield is transitioning to a curbside recycling collection model where citizens can work directly with private haulers for recycling collection, like they currently do for trash services. discarded as waste and the term 'bulk consumer' has been manufacturer, producer, refurbisher and recycler unlike 2016 Rules I'm guessing kind of late 3Q, you probably didn't hear a lot of phones ringing in terms of requests for product. And then is the holiday addition about a 50 basis point headwind as well as I would assume it's kind of like one less workday? So those are the things that give us so much confidence that Q2 really will be outsized relative to a typical year. I think it does, Ken, I think it puts us in a great position there. With respect to driver retention and overall compensation in that area of your labor force, how do you expect that to trend, and particularly in the macroeconomic headwinds? I mean SG&A, is -- I'm not sure we've ever had an SG&A number as a percent of revenue below 10% for the first quarter because the revenue base is always low for Q1. These margin impacts were offset in part by a 40 basis point improvement in SG&A and a 30 basis point benefit from the timing of alternative fuel tax credit. Further, Anybody who lives in New York sees it, anybody who lives in Boston sees it. Ladies and gentlemen, I'm showing no further questions in the queue. To print this article, all you need is to be registered or login on Mondaq.com. Development translates into exponential technological But I do think your point about being kind of an added synergy here is an important one. Customers in Chesterfield County may use any container of their choosing for the remainder of the countys curbside recycling contract with CVWMA (ends June 30). What we do is try and work ourselves toward providing better clarity about the key drivers of our business. ("Rules"), superseding the E-waste (Management) Rules, Today’s top 1,000+ Internship jobs in Paris, le-de-France, France. and reused. ET. not recycled in its facility is sent to the respective registered This growth was led by core price of 7.4%, which exceeded both last year and our plan for the first quarter. Free text and/or email reminders the evening before your scheduled pickup, including holiday delays. This strong core price translated into collection and disposal yield of 6.2%, a 70 basis point improvement compared with Q1 of 2022. I wanted to just ask my follow-up on the sort of more recent, like April, late March trends. How quickly can we see that productivity impact into your results? We didn't really see any meaningful margin impact in the first quarter, but we do expect that we will see some margin impact over the remainder of the year. Yeah. Before we get started, please note that we have filed a Form 8-K this morning that includes the earnings press release and is available on our website at www.wm.com. John will cover an operating overview, and Devina will cover the details of the financials. Carton Recycling Go Green Communities. Yeah. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. So do you think we see EBITDA margins inflect in 2Q or at least maybe approach flat and they inflect in 3Q? Great. We're pleased to see our robust revenue growth and disciplined focus on cost control translate into solid operating and free cash flow. India Pickup Schedule & ETA Pickup Schedule & ETA Continue as Guest To view your pickup schedule or service ETA, please select from the following options to verify your account. Q1 was at $54, but it got better as you went through the quarter. As you heard at our Sustainability Investor Day at the beginning of the month, we're very enthusiastic about how the growth in our renewable energy and recycling businesses strengthens WM's compelling investment thesis. . First-quarter cash flow from operations of $1.04 billion is in line with our plan and a strong result, particularly when you consider higher cash interest and incentive compensation payments. There's really, I think, Tyler, three areas that we're all focused on for 2023, and those are top of line -- at the very top of the list has got to be price, and then a close second to that is what John has been talking about, which is cost control, both SG&A and opex and using technology to facilitate that. recycling or disposal. These adjusted measures in addition to free cash flow, are non-GAAP measures. But can you just expand -- and really nice to see the strong numbers, both in transfer stations and landfills. I will now like to turn the call back to Jim Fish, president and CEO for closing remarks. The good news is, like we said, there's almost 500 trucks that are on the ground, not in service yet. We were right on plan for the first quarter. I mean, when California is telling people with electric vehicles to not charge their vehicles last summer, and I don't know what the percentage of electric vehicles is in California, it's probably 5%, if that. For Business. The investments we're making set us up to further differentiate our industry leading asset network and capabilities. That emphasizes our focus on people first, but that is a Q1-only event, and that's something else that will abate for the rest of the year. We returned $639 million to shareholders during the quarter, paying $289 million in dividends and repurchasing $350 million of our stock. And apologies if I missed this, but are you still looking for a $70 a ton commodity basket for 2023? And I mean, there's benefits here potentially to the customers as well because historically, I mean, I forget the last few years. We're also seeing a pretty significant uptick in pricing for plastics, for aluminums and a little bit for OCC. Download the 2023 recycling collection schedule. So once those trucks come in, once we've talked to the customer base, we will transition those. Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map. focused more on the producer's responsibility to collect back HELP KEEP COSTS DOWN - RECYCLE SMARThttps://recyclesmartma.org/Remember not everything is allowed in your single stream recycling bin. But everything we're looking at still seems to be OK. View holiday collection information. e-waste recycling targets to the producers. If you live in a single-family home and wish to participate in the county's curbside recycling program, you can opt-in by contacting the Customer Service Center at 804-748-1297. I think it will continue to close. Sure. Recycling service provider listcan advise on appropriate recycling service levels. And we're making the progress that we expect to make so that they have incremental value creation for both the market in the solid waste business that we acquired, and then also thinking about the differentiated service model that we will now have in the recycling part of the business because this is a new line of business for us. Select your locality from the drop-down menu, then enter your address. Actually a quick one. Image source: The Motley Fool. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. How much more momentum is there, I would have presumed a chunk of that is CPI pricing rolling. Sarasota CountyOrdinance 2006-001outlines the mandatory recycling requirements in unincorporated portions of Sarasota. Our residential recycling plans offer customers the resources they need to achieve this. And then on the recycling part of the business, the Natura business is in early stages and we're making some investments there, too. year in which the extended life of the product is expired. in a particular year and same shall be added to the target of the Jim Fish -- President and Chief Executive Officer. for verification or audit as and when required. Perfect. We expect our investments to continue to drive improvement in SG&A costs and put us on a path toward a permanently reduced SG&A cost structure. City of Stanwood - Waste Management Northwest Check for holidays that may affect your WM trash or recycling services within the next 7 days. (Optional additional rubbish and recycling bins are available for $22.50 per bin.). But I don't think that California, if it's a combustion engine. retailer, e-retailer, etc. But other than that, it's been -- I think the temp story has been a consistent one. We recognize that these have a finite life to them. Responsibility ("EPR"), a major chunk of it enters the We absolutely see that as something that our customers will receive well. But when we look at the yield component, we actually see the revenue results including yield for Q1 being a little ahead of our plan. Our balance sheet is strong, and we remain well-positioned to fund growth investments. At this time last year, we have received less than 50 trucks. Great. OK. Curbside Recycling | Chesterfield County, VA About 70% of our resets are in the first half of the year, and those are all indexed to a year-ago activity. Residents who dont hire landscapers to rake and dispose of their leaves have a couple of options. Good morning everyone and thank you for joining us for our first-quarter 2023 earnings conference call. All trash and recycle items must be placed at the curb no later than 6:30 a.m. on your service day. Looking forward to seeing a lot of you next week in New Orleans. Good morning. Electronics and Information Technology and Standards of Bureau of The definition of term 'e-waste' has been widened to So if you're using a renewable fuel to fuel a CNG truck, I don't think you have to be a mathematician to figure that out. So it's a good question. Business and School Recycling. Follow the journey of items collected in local residential (curbside) and drop-off recycling programs through the MRF and eventually back into retail stores. We expect the investments that we're making over the next several years to provide meaningful operating EBITDA and free cash flow growth with impressive returns. fulfil specific responsibilities. Share & Bookmark, Press Enter to show all options, press Tab go to next option, Emergency Rental Assistance Program (ERAP), Phillippi Creek Septic System Replacement, Arts and Cultural Alliance of Sarasota County, Proclamations and Certificates of Recognition, Transportation (Hurricane Evacuation Center), A Claim for Property Damage or Personal Injury. Your line is open. OK. And then just to settle the on temporal losses. All Rights Reserved. Frontline wage increases are now in the mid-single-digit range as compared to the high single to low double-digit increases that we saw in late 2021 and 2022. The Motley Fool recommends Waste Management. required to register on a central portal to continue operating and as per the revised Schedule I of 2022 And right now, I don't know that we're seeing any progress on infrastructure. Cost basis and return based on previous market day close. But still, I think you're seeing the discipline there around pricing very strong. EPR is a policy-based approach wherein responsibility is casted Hello. The good news is we see signs of easing cost pressures and the steps we are taking to combat higher costs are also showing benefits. responsibility: This is a welcome change in today's scenario where What we intend to do there, at one point, we had moved our renewable energy business into the fuel line, and with some of the noise it was creating in the fuel line, we saw value in pulling that out. But when I look at how we're doing with things like rollback of price and churn, those are, as I said, near the bottom end of our historic ranges. On the dilutive impact of M&A at 40 basis points, that was about half solid waste and half recycling. pinterest collected, dismantled, and recycled in an environmentally sound They just happen to be higher than our expectations. City of Stanwood - Waste Management Northwest This website is your #1 resource for information MY WM APP Manage accounts and billing, request services, view pickup schedules Automated Virtual Assistant CHAT M-F 7 am - 7 pm Sat 8 am-12 pm EMAIL pnwrsservices@wm.com Phone 800-592-9995 M-F 7 am - 7 pm Sat 9 am - 1 pm I would tell you that as far as the overall macro economy, we've been looking at it closely because it seems as if every day, somebody comes out with a different projection. Or is that already embedded in the guide, that it returns to more of a normal trend? Learn More, Waste Management(WM 0.45%)Q12023 Earnings CallApr 27, 2023, 10:00 a.m. Our collective focus continues to be striking the right balance between maximizing customer lifetime value and increasing price to recover higher costs. You may begin. e-waste. Kevin Chiang -- CIBC World Markets -- Analyst. And we've seen a little bit of positive movement here just late in the last handful of weeks on some of the fiber pricing. Thank you. That means that we've been holding on to some of our older vehicles longer. 1660 Ringling Blvd., Search. These definitions provide clarity on the scope But as you saw within our post-collection pricing and more specifically our transfer stations, we continue to address that through the revenue quality of the remote gates at or the transfer station. We'll have another benefit in Q2 and then that moderates in Q3, reverses itself, and then normalizes beginning in Q4. But if you look at where CPI was last quarter or this quarter, you look at core price and yield, we're still pricing above that. To hear a replay of the call access the WM website at investors.wm.com. For more information regarding yard waste disposal, please visit our Yard Waste Disposal webpage. flickr. And that is our expectation, is that the first quarter of 2023 had some margin pressures that we see as more related to 2023 specifically, such that the normal seasonal uptick that we see from a revenue perspective will provide the typical expansion. For the full year, we continue to expect flat overall volumes at the midpoint of our guidance. This is truly going to be a differentiator for us as we -- I talked about in my prepared remarks, I talked about the fact that we are taking cost out of our customer experience centers because we're using a self-service model now. Service is provided through Waste Management. We look at the heavy equipment at our landfills and all of that. I want to frame these results and then talk about the efforts in place to optimize our cost to serve in 2023 and over the long-term. Changes to Curbside Recycling in 2023 Beginning July 1, 24-gallon bins and personal containers will no longer be collected curbside. The Florida Department of Environmental Protection recognizes businesses, institutions, schools, public organizations and citizens who recycle over 40 percentof their waste. It's not all CPI as we've talked about. EBITDA margins were slight in 1Q, at least relative to the sell-side, I appreciate all the detail you provided there. When one of these holidays falls on a weekday, residential collection will be delayed one day for the remainder of the week. We remain confident that we can achieve our full-year pricing expectations for core price of 6.5% to 7% and yield approaching 5.5%. TTY: 7-1-1or 1-800-955-8771. Recycle Right Inside WM. Would you review -- just quickly review sort of the impact that -- the potential impact from PFAS may or may not have on how the cost of landfills and sort of how -- I know there's going to be some rulings or some hearings coming out here over the next few months about it. Or is that still kind of an unknown now in terms of how they might treat that? Trash & Recycling Collection Reno, NV | WM - Waste Management If a holiday falls on a Saturday or Sunday, there will be no delays. Please refer to the earnings press release tables, which can be found on the company's website at www.wm.com for reconciliations to the most comparable GAAP measures and additional information about our use of non-GAAP measures and non-GAAP projections. For missed pickups of garbage and/or recycling, please contact Waste Management Customer Service or email your address, phone number, and regularly scheduled pick-up day ASAP email us or call 888-960-0008. It's just everybody needs to understand it. Your line is open. First-quarter revenue grew 5% with continued strong organic growth in the collection and disposal business of 7%. It was more about investment in the operations and the long-term viability of each of those businesses. In the first quarter of 2023, we saw the best driver retention we've seen in two years. So we don't have any issue moving the material we're bringing in. De nombreux forfaits et billets sont faits pour vous ! Recyclable materials are collected every other week. And a lot of that headwind, really all of that headwind was in the first quarter as anticipated because higher incentive compensation payments happened in Q1 because of the 2022 outperformance relative to our plan. and safe disposal of such waste. The lids on both carts must be closed to ensure litter free service. We went back and took a look before the call. Recyclables, yard waste and any large or special pickup items must still be placed curbside. So we're pleased with that because I know there were a few that had questioned our $70 number, and that looks like it's probably going to hold. The county recognizes the importance of recycling and its effectiveness in reducing the volume of household waste that ends up in landfills and desires a robust recycling program available to all citizens predicated upon multiple choices at the lowest price possible. Hi. All new commercial construction is required to have anenclosurefor garbage and recycling containers, unless there is a permanent storage area for the containers inside a walled and roofed building. Because effectively, you're in a unique position in that you also produce RNG as your landfill. Does this MRF make you more competitive as you think of the opportunities stemming from that legislation? Thanks for the question. Now, any entity which has used at least one So what you're seeing this year is that those are going to be recognized quarter-by-quarter. So that's another thing that gives us confidence. So thanks for joining us this morning, and we'll see you next week. In closing, I want to thank the 49,000 people behind WM's success this quarter and every quarter. It also helps that China's open back up. No, So I think -- listen, we're thrilled that the supply chain and truck deliveries are starting to abate. There were two primary contributors to our first-quarter results, the dilutive impact of recent acquisitions and continued inflationary cost pressure. Landfill volumes led the way with C&D volumes up almost 37% in the quarter, driven by the hurricane cleanup in Florida and MSW volumes increased by almost 3%. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. So we've said that we think PFAS is more of an opportunity than a risk for us. So I think we're in a good spot there regardless of what the technologies. We are hearing that, and some of the companies that we've acquired are showing double the turnover that we're showing. extended. That's right -- theythink these 10stocks are even better buys. 2100 W. Laburnum Ave., Suite 105 EPR mechanism under the 2016 Rules Our collection volumes were down modestly in the quarter, driven by intentional steps we continue to take to price every contract to achieve acceptable returns. Invest better with The Motley Fool. For general questions about garbage and recycling in Sarasota County,call the Sarasota County Contact Center at 941-861-5000. First question, I guess, is how to think about fuel rolling over in terms of impact to EBITDA and margins over the rest of the year. I mean, it's -- in any big business, there's going to be a few things that work in our favor, a few things that work against us. And that's exactly what we're doing in building an optimization tool that understands absolutely the best route to take. Our fleet strategy is evidenced by what we've done from diesel -- gen 1 diesel, gen 2 to CNG/RNG that we have the flexibility within our fleet plan to be able to pivot without really impacting the business. Visit the CVWMA What to Recycle webpageor contact your private hauler for more information. . financial year including the e-retailer, will be considered as bulk Hi, team. I think the other thing that I would like to mention too is as we think about drivers, why it's imperative that we bring technology to this labor pool. registered recyclers. Integration costs and upfront dilutive margins of these acquisitions had about a 35 basis point impact in the quarter. will be issued a refurbishing certificate for a particular quantity And like I said, we're pleased with the traction that we're seeing in each of those businesses on the recycling side because that business is in a development phase. I don't know that we're hearing a lot about tech because I'm just not -- I think they're more focused on how do they keep drivers on the road. I would tell you, we don't talk about weather, but there was a handful of areas on the West Coast where we were shut down for a few days and some kind of really odd weather. And while we don't send a lot of stuff straight to China anymore, they do affect worldwide demand. We don't expect that to continue over the remainder of the year. All customers must use approved carts provided by Waste Management. laboratory instruments etc. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Garbage & Recycling | City of Vancouver, Washington, USA and applicability and ensure that all stakeholders follow the same Even as we invest in high-return sustainability growth projects within our business, we continue to demonstrate our commitment to all of our capital allocation priorities. Our next question comes from the line of Stephanie Moore with Jefferies. That was considered when we put together our plan for EBITDA and EBITDA margin this year. Find your solid waste collection schedule, and use the. So you're right. WM offers waste & recycling services to residents in Santa Clarita, CA. Your service gets better, your safety gets better and overtime ratios, training hours and all those things start to go the right way and we started to see signs of that in Q1. We need this to enable us to match you with other users from the same organisation. For missed pickups, service requests, container swaps, or other issues, contact Waste Management at 800-796-9696 or WM.com. This program allows residents to recycle paper, cardboard, glass and plastic in a single container, while deferring waste from local landfills. e-waste to reduce the long-lasting impact on the environment. And so we'll see some of that benefit as we go through the rest of the year in terms of where inflation headline numbers continue to be high. Accueil | Alliance Franaise Paris - le de France I was trying to figure out a good way to say that. It's a shrinking labor pool. Your line is open. Waste Management's Orchard Ridge Drop-Off Facility (W124N9355 Boundary Road) for Yard Waste, excess Recycling, and excess Garbage is open. Welcome to Easton, MA Trash and Recycling | Sarasota County, FL operations in the informal sector occur at different stages of the reduction of hazardous substances by ensuring that products do not

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