And as John has talked about, in particular, labor and repair and maintenance are expected to benefit from the actions that we saw early signs of as we looked at February, March, but we expect to continue to gain momentum over the remainder of the year. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. I was unclear, is that a hurt or help. Instead, they must be recycled. Producers are required to meet recycling targets up to 60% by Invest better with The Motley Fool. facilitating the fulfilment of EPR targets. The requirement to qualify as bulk consumer now depends of in an authorised treatment storage disposal facility; Maintain EBITDA margins were slight in 1Q, at least relative to the sell-side, I appreciate all the detail you provided there. The concept of EPR recycling certificate, refurbishing Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. These entities are John Morris -- Executive Vice President, Chief Operating Officer. That's helpful. We're pleased to see our robust revenue growth and disciplined focus on cost control translate into solid operating and free cash flow. And even where we're growing volumes, we're still able to move that material. 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. It doesn't look like a blowout for sure, but it doesn't look like the bottom is falling out. So we continue to down that path until we get to some acceptable spot there. Including Millwood. So we've chosen to make that -- it's an incrementally positive step to go to C&G. So we've said that we think PFAS is more of an opportunity than a risk for us. the constituents of the equipment along with declaration of So those are pretty good signs for the overall economy. e-waste is, we need to constantly reimagine, revaluate, and RIN pricing would be one of those. Thank you so much. So how do we take advantage of that and the way we take advantage of it is by bringing technology to squeeze 5%, 10% maybe even 15% optimization out. So once those trucks come in, once we've talked to the customer base, we will transition those. are: 1. 70% our injuries happen in the residential line of business. But that's because we've needed to be intentional about keeping our vehicles and maintaining them so that we meet all of our service needs for our customers. Debris must not exceed the lid of the cart or you may experience a delay in service. recyclers; Residue generated during recycling process is disposed With that said, our first-quarter performance was basically on our budget and our strategic priorities of maintaining strong price discipline, permanently reducing our operating and SG&A cost structure through business optimization, technology and automation, and leveraging our sustainability platform for growth are right on track. Your 62 is a good number. That's great. certificate and deferred liability has also been introduced, for Our next question comes from the line of Tyler Brown with Raymond James. So at the end of Q4, we were at $47. I get that there are a variety of factors at play. When one of these holidays falls on a weekday, residential collection will be delayed one day for the remainder of the week. reduction of hazardous substances by ensuring that products do not product user documentation. not recycled in its facility is sent to the respective registered That's right -- theythink these 10stocks are even better buys. So that's encouraging. Net income, EPS, operating EBITDA, and margin and operating expense and margin results have been adjusted to enhance comparability by excluding certain items that management believes do not reflect our fundamental business performance or results of operation. 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. For information, go to www.chesterfield.gov/recycling. We remain on track to bring online two new renewable natural gas facilities and seven newly automated material recovery facilities by the end of the year. widened and simplified. 8 a.m. to 5 p.m. (772) 546-7700. So it puts us in a really, really good position add to that -- that this MRF will be one of the new style MRF, so with a lot of automation in it. It is not inexpensive to optimize that. Incentive compensation was cash flow. And so why fill them up with kind of low-priced tons when we can fill them up at a slower rate, maybe at higher price tons, preserve some of that airspace. And some of those changes, our customers are going to begin to see in the second quarter. I'm not going to pay three times for an electric vehicle, what I pay for a CNG vehicle. It understands the expertise of drivers. Recycle Right Inside WM. It just will look a little bit different in future quarters, both because of the lapping of the really significant increases in diesel that we saw a year ago, but also because we're taking some structural changes with how we bill that to our customers. EPR is a policy-based approach wherein responsibility is casted 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. Capital spending in the quarter totaled $660 million, with $504 million related to normal course capital to support our business and $156 million of spending on sustainability growth projects. And apologies if I missed this, but are you still looking for a $70 a ton commodity basket for 2023? informal sector of recycling. Solid Waste Enclosures Guide and Design Considerations, Solid Waste How-To Guide for Residents in Sarasota County_ADAc, Items that do belong in your recycling containers, Items that do not belong in your recycling containers, Containers/items may be placed at the curb beginning at 5 p.m. the day, Empty containers should be brought in from the curb by 10 a.m.on the day, Otheritems that may be collected curbside are listed below. as per Compulsory Registration Scheme of the Ministry of Your line is open. No, that makes a ton of sense. The content of this article is intended to provide a general Maybe you can talk to your sense of the mills inventory position on recycled fiber. We're always working to make WM a great safe place to work and delivering our team members of best-in-class compensation and benefits package. Feedback. 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. Just I was looking back through the Q4 transcript, and I'm not really sure I saw it. Overall, you have an assumption all this would improve. Our next question comes from the line of Stephanie Moore with Jefferies. the e-waste introduced in the market and provided collection ), Construction wastes (limited to four, 32-gallon containers, each weighing 40 lbs. Thanks and I'll turn it over. AB 341 requires all businesses that generate 4 cubic yards or more of trash per week to arrange for recycling services. effective implementation of the Extended Producer's But at the same time, we are continuing to look at other propulsion techniques, if you will. about your specific circumstances. Refurbisher's are under a duty to collect e-waste generated Our next question comes from the line of Sean Eastman with KeyBanc. But everything we're looking at still seems to be OK. Hi. You're seeing us price it that way. And do you just feel comfortable that you can maintain a nice positive spread to unit cost inflation both over the short and long term? It actually doesn't become a help necessarily, but it's not something that we see repeating over the remainder of the year because it was a onetime event. So we are still sticking with our $70 and feel pretty confident in that. Sure. Any comparisons, unless otherwise stated, will be with the first quarter of 2022. 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. Q1 was at $54, but it got better as you went through the quarter. Waste Management ( WM 2.73%) Q1 2023 Earnings Call. We don't expect that to continue over the remainder of the year. So we're certainly confident in that aspect of the guidance that we provided. EMAIL. Yeah. 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. Youtube The National Biodiversity Authority in Chennai has been established for the purposes of implementing the objects of the Act. Image source: The Motley Fool. over the producers of specific category of waste for the treatment We'll have another benefit in Q2 and then that moderates in Q3, reverses itself, and then normalizes beginning in Q4. I would tell you that's something we've been working on, and that's been a tougher hill to climb, obviously, because those are bigger chunks of a volume and big customers when you're making those decisions. Facebook The Board of Supervisors has waived the first half recycling fee for recycling services provided from Jan. 1 to June 30, 2023. And how do you see that impacting your business? Yeah. When we talk about it probably four years ago, we're talking about something less than 1%. And those have all continued to stay static and in a good spot and service intervals are still positive. Recycle Coach is your go-to source for all garbage, recycling and hazardous waste information. on specified usage of EEE by entity, unlike earlier where it I'm not sure they would define it any other way, at least at this point in time. The new rules have expanded the scope of e-waste to include And in fact, we do see some of that coming out in Q2, but Q3 and Q4 is really where you start to see some strong results. As we exited those numbers, went up past historic averages. When you are able to hold a lot of your drivers, it makes a big difference in that customer lifetime value proposition. And I'll now turn the call over to John to discuss our operational results for the quarter. Discover the Paris metro map. It's a shrinking labor pool. So we're excited about the MRF coming in to Toronto. RIN pricing is probably a little bit against us right now. retailer, e-retailer, etc. View Recycling Schedule (PDF) What's Acceptable for Recycling. OK. We have consistently emphasized the importance of post collection pricing and in Q1, we delivered yield of 8.9% of our transfer stations, and 5.4% for landfill MSW, both increases from last year. So far in 2023, the WM team continues to deliver strong performance. Tobey Sommer -- Truist Securities -- Analyst. So I think you're right about the fact that there's a whole bunch of pieces in play here. Without this team, none of this would be possible. And I said it a little bit earlier, but there's a real appreciation for the fact that especially landfill airspace is a precious commodity. 2. Thanks so much. You may begin. But I would tell you this, first of all, I looked back. By recycling, businesses may be able to reduce the size of their garbage container and/or the number of collection pick-ups. fulfil specific responsibilities. We talked a lot about the work we're doing to optimize our cost to serve. So while we're encouraged the worst of the recent uncertainty is behind us, we still need to see a more reliable delivery schedule from manufacturers. You heard me in my prepared remarks talk about some of the peak wage inflation where it's moderated to now. . For more information, visit www.cvwma.com/recycling-2023. It takes 30 to 45 days to get those vehicles sort of on the road and get the older vehicles off. Vous voyagez Paris ? 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. So those are the things that give us confidence that the Q1 results of 40 basis points will exceed what you see for the remainder of the year. Executing on these priorities will produce the robust short-term and long-term financial performance that we've projected. The Gen Z doesn't want to drive trucks the way a Baby Boomer or Gen X did. The investments we're making set us up to further differentiate our industry leading asset network and capabilities. On the solid waste side, when I was mentioning the MLK holiday, that was part of the 20 basis point margin headwind that we saw from the solid waste part of the business. One area that exceeded our expectations was pricing as we continue to execute on our revenue management programs to recover cost increases and improve margins. Looking forward to seeing you in New Orleans. The good news is, like we said, there's almost 500 trucks that are on the ground, not in service yet. Click here to view the recycling schedule. Garbage & Recycling. Ed Egl -- Senior Director, Investor Relations. a proper disclosure and compliance mechanism in place, it has Good morning. 2. I mean, listen, we've talked a lot about our CNG, RNG strategy and obviously really pleased with the way that's gone and with the outlook of that is, especially as we continue to bring on these R&D plans. I could say the same thing about MSW volume or a couple of the other things. So when we think about rentals and surplus assets, we have a clear path for the rest of the year and more confidence in the delivery schedule that we're going to be able to take those out. Thank you for the question. So as Jim was saying earlier, specific to the commodity-based businesses, we have some caution around those. And our customers already like the fact that, that CNG truck that's rolling down the street is quieter than the diesel vehicle. So do you think we see EBITDA margins inflect in 2Q or at least maybe approach flat and they inflect in 3Q? Recyclables, yard waste and any large or special pickup items must still be placed curbside. Look, I didn't see what their numbers were at. Or is that still kind of an unknown now in terms of how they might treat that? 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. City of Federal Way - 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 253-833-3333 M-F 7 am - 7 pm Sat 8 am - 5 pm Select your locality from the drop-down menu, then enter your address. Ladies and gentlemen, I'm showing no further questions in the queue. registered recyclers. And then on the recycling part of the business, the Natura business is in early stages and we're making some investments there, too. Good morning everyone and thank you for joining us for our first-quarter 2023 earnings conference call. We finally now know where all of our assets are. On the dilutive impact from commodity businesses of 50 basis points, you had that right. WM Curbside Refuse Container Sizes and Rates Prefer to use your computer instead? In addition to the service intervals, though, as Jim mentioned in the commentary a few minutes ago, the other parts of that, that we're really paying close attention to is what the churn rate is doing and what the rollbacks are doing even as we continue to be aggressive on the pricing side. Can I ask just a follow-up on that? Garbage, Trash, recycling, Yard and Waste, residential, commercial, multifamily Service - Hansville, Kingston, Manchester, Olalla, Silverdale, Suquamish, Poulsbo, WM provides garbage, recycling and Yard and Waste services for residential, commercial and construction customers including Kitsap County, Washington. India would certainly benefit from optimizing e-waste management Additionally, they have to ensure that the refurbished equipment is Beginning the week of January 6, 2020, garbage will only be collected by using the Waste Management provided garbage carts. And maybe just the EPA did come out with, I guess, a phase 3 proposal on heavy-duty vehicles, looking to continue to drive to some sort of net zero target over time. Overall adjusted operating EBITDA grew nearly 4% and operating EBITDA in the collection and disposal business grew 7% in the quarter. more electrical and electronic equipment, including medical And it was not -- there wasn't one less workday. We absolutely see that as something that our customers will receive well. Beginning November 1, 2022, MassDEP is expanding its current waste disposal bans to include mattresses and box springs. Thanks. and now includes any person or entity who: irrespective of the selling technique used such as dealer, discarded as waste and the term 'bulk consumer' has been awareness about e-waste management, and file annual and quarterly No, So I think -- listen, we're thrilled that the supply chain and truck deliveries are starting to abate. With profitability improving in each line of business and contract wins with healthy price increases, we're pleased to see our differentiated service and disciplined approach to yield benefits. Receive an email reminder a day before your collection. And I guarantee there's not anybody else out there that's able to do that. This program allows residents to recycle paper, cardboard, glass and plastic in a single container, while deferring waste from local landfills. So we don't have any issue moving the material we're bringing in. 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. Jim Fish -- President and Chief Executive Officer. So it's a good question. Mondaq Ltd 1994 - 2023. Sarasota CountyOrdinance 2006-001outlines the mandatory recycling requirements in unincorporated portions of Sarasota. Yeah. The good news is we're starting to open up. EPR mechanism under the 2016 Rules Call 941-493-4100. Thank you. So neither of those really were seeing the full benefit of leverage on the SG&A front -- I'm sorry, it wasn't that they weren't seeing the benefit of the leverage on the SG&A front, we were capturing and realizing that. Curbside garbage and recycling collection services are provided to residents in unincorporated parts of Sarasota County by Waste Management. To hear a replay of the call access the WM website at investors.wm.com. 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. 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. advancements which lead to increase in e-waste generation. Mondaq uses cookies on this website. Jim will cover high-level financials and provide a strategic update. For the remainder of 2023, our outlook remains consistent with the full-year guidance provided at the beginning of the year, including adjusted operating EBITDA growth of 7% at the midpoint and between 40 and 80 basis points of adjusted operating EBITDA margin expansion, driven by our collection and disposal business. Historically, we anticipated the question. Those have been at the historic low end of our ranges and continue to be there. Cost basis and return based on previous market day close. Can you talk about, did we get a full quarter run rate out of the initiatives that you mentioned on the call center side this quarter? For missed pickups, service requests, container swaps, or other issues, contact Waste Management at 800-796-9696 or WM.com. 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. Thanks for the extra detail. We're down about 29 in volume. But just any thoughts on the pricing environment, your go-to-market strategy? At this point, we're good with each element of the guidance. Indian Standards framed for this purpose. 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. 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. So thanks for joining us this morning, and we'll see you next week. So yes, that was a cash flow impact. Twitter And it's got to be through technology. They have to talk to our customers and make sure that they're comfortable with going to trash just being in one of those totters as opposed to everything sitting on the curve.

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