On some holidays, CVWMA recycling collections may be delayed by a day for the remainder of the week. Thanks so much. fulfil specific responsibilities. 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? You have such a high percentage of the fleet on natural gas versus peers. I'm not sure they would define it any other way, at least at this point in time. Just a little bit of timing -- a little bit detail about how much about the timing of improvement on margins. Garbage & Recycling | Menomonee Falls, WI - Official Website responsibility: This is a welcome change in today's scenario where 10 stocks we like better thanWaste ManagementWhen our analyst team hasa stock tip, it can pay to listen. This strong core price translated into collection and disposal yield of 6.2%, a 70 basis point improvement compared with Q1 of 2022. Actually a quick one. produces an appalling amount of e-waste and due to lack of Electronics and Information Technology and Standards of Bureau of But I've got a lot of questions this morning. 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. Chesterfield County currently offers a biweekly curbside recycling program to more than 94,000 homes via a service agreement with the Central Virginia Waste Management Authority and their contracted hauler Tidewater Fibre Corporation (TFC). Now, that they've chosen to reopen their economy, that is helping and that will help us out as well. Our next question comes from the line of Toni Kaplan with Morgan Stanley. Sean Eastman -- KeyBanc Capital Markets -- Analyst. Debris must not exceed the lid of the cart or you may experience a delay in service. registered recyclers. 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. It doesn't look like a blowout for sure, but it doesn't look like the bottom is falling out. Much of the commercial sector waste disposed in landfills is readily recyclable. Sarasota County No loose trash will be accepted. We're pleased with these results, particularly when you consider the impact of West Coast weather disruptions on our operations. Business and School Recycling. Hi. All other residents may also take advantage of rear door pick-up for a fee. I think -- when it all comes down to it, I think we talk about automation and optimization. How Do I Volunteer for a Board or Committee? Yeah. *Pickups for over-sized waste must be scheduled at least 48 hours in advance with Waste Management. The new rules have expanded the scope of e-waste to include Chesterfield County On the capital front, there are two key takeaways. Looking forward to seeing a lot of you next week in New Orleans. Search for upcoming holidays that may affect WM trash and recycling service in your area. Thanks, John, and good morning. The first is that we're pleased with the continued progress on our sustainability growth projects relative to plan. So it's a good question. It's a good question because I wouldn't say that our approach has changed. RIN pricing is probably a little bit against us right now. That means that we've been holding on to some of our older vehicles longer. Trash and Recycling | Sarasota County, FL It looks like your pricing may be peaked in Q4. year in which the extended life of the product is expired. Development translates into exponential technological We finally now know where all of our assets are. Sarasota CountyOrdinance 2006-001outlines the mandatory recycling requirements in unincorporated portions of Sarasota. Henrico, Hanover and Goochland Counties And how much room for improvement could there be based on the historical ranges of those metrics in prior downturns? And I'm not sure we've priced it that way over the years. 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. The concept of EPR recycling certificate, refurbishing Thank you. 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 I just wanted to confirm that all the guidance is intact, and in particular, including the collection and disposal yield, I think you guys have given us approaching 5.5% number. Even as these important parts of our operations grow our solid waste business will continue to make up the lion's share of our earnings, projected to generate roughly 85% of operating EBITDA in 2026. For more information regarding yard waste disposal, please visit our Yard Waste Disposal webpage. John Morris -- Executive Vice President, Chief Operating Officer. What's the temporal loss utilization look like? 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 And apologies if I missed this, but are you still looking for a $70 a ton commodity basket for 2023? Yeah. 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. This program allows residents to recycle paper, cardboard, glass and plastic in a single container, while deferring waste from local landfills. 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. Understood. View Recycling Schedule (PDF) What's Acceptable for Recycling. Integration costs and upfront dilutive margins of these acquisitions had about a 35 basis point impact in the quarter. Now we tend to be kind of at the back end. at par with the international conventions and global e-waste And has there been any change in terms of how you look at deals, the integration opportunity, level of automation or other savings that you can get and if that's kind of changed your M&A philosophy a bit as you take a bit more of a cost-focused approach here. registered recycler on the portal and make available all records Trash & Recycling Collection Reno, NV | WM - Waste Management 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. Service fees may apply. Thanks for taking my question here. We're also expecting to see some strong accretive revenue come back in the collection line of business, in particular as our differentiated service model really pays some dividends in terms of our national accounts business where we are going to lap some of the contracts' expirations and we're going to see some contracts return. ET. So that kind of naturally slopes down. Overall, you have an assumption all this would improve. Good morning everyone and thank you for joining us for our first-quarter 2023 earnings conference call. the constituents of the equipment along with declaration of 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. These results demonstrate our success in rationalizing costs and optimizing our sales and customer experience functions. Facebook But maybe you could touch a little bit about if there's any change in your approach to acquisitions as you continue to kind of balance SG&A reduction as well as acquisitions. And I would tell you, we've made 400 to 500 basis points of improvement in a lot of those key frontline roles, and. I know it historically don't, but I think it helps put in perspective Tyler's question. Subcontractors, we're still seeing a little bit of lag there, and it's really more of third-party transporters. Recycling can be dropped off at either of the county's convenience centers at no charge. De nombreux forfaits et billets sont faits pour vous ! The county is also establishing drop-off recycling stations at Harry G. Daniel Park at Iron Bridge, R. Garland Dodd Park at Point of Rocks, Goyne Park, Irvin G. Horner Park, Huguenot Park, and Rockwood Park. This has led to some non-regrettable volume losses in our residential and commercial business. So we continue to down that path until we get to some acceptable spot there. 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. Also looking at some of our volume numbers, especially MSW, MSW was 2.7%. And now we're talking about much higher numbers, albeit in a higher inflation environment. introduction of mandatory recycling targets will play a significant 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. So you're right. Public Works supervises the contracts for automated solid waste and recyclable collection. Please refer to the service map to determine collection days. Great. So we need to price it that way. And maybe the most important piece that John mentioned is it helps us from a safety standpoint. Until these carts are delivered, customers in these localities may use any container of their choosing for recycling. guide to the subject matter. We probably -- if you go back to kind of post-COVID, we're probably lagging 2,000-plus vehicles from what our fleet plan would have been. It's a great question, Jerry. Share this page on your favorite Social network, DPW/Police/Fire Facilities Replacement Feasibility, Blanche Ames Elementary School Construction Project (MSBA), Southeastern MA Regional 911 District (SEMRECC), Easton Shovel Town Cultural District Management Partners Team. And I mean, there's benefits here potentially to the customers as well because historically, I mean, I forget the last few years. In yet another step towards sustainable growth, Government I think on the cost side, Toni, I addressed the M&R and some of the challenges we have seen here. devices, monitoring and control instruments, solar photo-voltaic You can -- we all know that the infrastructure is not prepared to handle electric vehicles. The Houston Apartment Association (HAA) and the City of Houston Solid Waste Management Department (SWMD) launched on November 15, 2011 the Go Green Community initiative to increase recycling in apartment communities. And that's, in large part, what you're seeing out of transportation but also largely landfill pricing. But historically, CNG fuel prices have been more stable relatively. reduction of hazardous substances by ensuring that products do not Carton Recycling Go Green Communities. By state law, yard waste - such as grass clippings, leaves and tree branches, may not be put in the trash. OK. And then just to settle the on temporal losses. more electrical and electronic equipment, including medical Thank you. When we gave our guidance for 2023, we talked about working capital being a headwind in the year. You will hear prepared comments from each of them today. 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. To schedule rear door garbage service, contact Waste Management at 941-493-4100. Thank you. Waste & Recycling Collection Santa Clarita, CA | WM - Waste Management 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. So look, Jim, I don't want to get into the comparison game, but one of your competitors showed core pricing accelerated in Q1. manufacturer, producer, refurbisher and recycler unlike 2016 Rules Get a Free Recycling Sticker / Buy a Recycling Can. We see this as something else that the customers will receive as a positive from WM investing economically and environmentally beneficially in a differentiated fleet to service. 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. The Form 8-K, the press release, and the schedules to the press release include important information. And some of those changes, our customers are going to begin to see in the second quarter. . One, in the solid waste business, we make investments in our facilities, the fleet, and our people right up front and that's the cost impact that you saw in the first quarter for the solid waste acquisitions. Youll only need to do it once, and readership information is just for authors and is never sold to third parties. The new rules have allowed for the refurbishment of e-waste, Our balance sheet is strong, and we remain well-positioned to fund growth investments. And because renewable energy and recycling both have commodity-based impacts, we thought looking at those on a combined basis made some sense. Thanks, Jim and good morning. e-waste by the bulk consumer has been done away with but they need We're pleased to see our robust revenue growth and disciplined focus on cost control translate into solid operating and free cash flow. management policies. Give us time to figure out our solution once those do ultimately go away. On the other side, recycle pricing, as we talked about a little bit earlier, is right on our expectations. 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. 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. Service is provided through Waste Management. The requirement to qualify as bulk consumer now depends So that's clearly going in the right direction. But how do you see that playing out? This call is being recorded and will be available 24 hours a day beginning approximately 1:00 PM Eastern Time today. And it's noteworthy that the residential line of business, as you can imagine, is one that eats a little more of the inflation, some of the other one due to the labor intensity and whatnot. 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. Refuse & Recycling Services | Northbrook, IL are: 1. 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. Your recycling matters and the County wants to help you recycle right! The county's convenience centers will be open seven days a week in late summer 2023. Our interactive Paris metro map is designed to make your journeys easier; it is available online and downloadable in PDF format. Free text and/or email reminders the evening before your scheduled pickup, including holiday 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. India would certainly benefit from optimizing e-waste management Good morning. So at the end of Q4, we were at $47. Hi, team. 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. laboratory instruments etc. Jim will cover high-level financials and provide a strategic update. WM Holiday Schedule. For the full year, we continue to expect flat overall volumes at the midpoint of our guidance. Further, Obviously, the banking crisis sort of doesn't impact your business as much as some of the other business services companies. The mission of the Solid Waste & Recycling Division is to efficiently manage the solid waste stream and provide high quality residential solid waste management services for the citizens of Richland County in order to enhance public safety, public health and quality of life in the County. ET. Your line is open. Prior **Pickups for TV's and monitors that weigh more than 40 lbs. (Optional additional rubbish and recycling bins are available for $22.50 per bin.). 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. Households that recycle with CVWMA in Henrico, Hanover and Goochland counties will automatically receive new 96-gallon recycling carts in the spring. A New Dimension To E-Waste Management In India: E-Waste Management Maybe you can talk to your sense of the mills inventory position on recycled fiber. Our next question comes from the line of Michael Hoffman with Stifel. So it becomes a synergy for us as we acquire businesses. Thanks for the question. That's really interesting. But can you just kind of remind us what is embedded -- or the level of unit cost inflation that's kind of embedded in the 2023 guide and maybe where are you today? Our next question comes from the line of Tobey Sommer with Truist. Recyclers are required to ensure that the fractions or material 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. On the solid waste side, we took a really important step that's team member-focused and an investment in our frontline by making the MLK holiday across the entire organization. Find Your Garbage/Trash Pick Up Day - Elk Grove, California 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. So you might recall that last year, we got -- there was a delay in the approval of those tax credits by government. And I also was very encouraged to see pricing in two particular places that we're encouraging: residential, which John talked about, and landfill and transfer. The following companies have indicated that they will provide curbside recycling, to include provision of containers for their service: Each hauler will provide instructions regarding existing containers. required to register on a central portal to continue operating and So we are still sticking with our $70 and feel pretty confident in that. The new rules put larger responsibility on entities like Waste Management requires all garbage and recycling to be placed at roadside for pickup by 5:30 a.m.on your regularly scheduled day. To print this article, all you need is to be registered or login on Mondaq.com. Yeah. 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. Take a virtual tour of a material recovery facility (MRF, pronounced murf) on CVWMA's Journey to the MRF webpage, which includes a video about recycling in central Virginia. 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. Or how are you thinking about that opportunity? Sat 9 am - 1 pm. To hear a replay of the call access the WM website at investors.wm.com. Log in Sign up facilitating the fulfilment of EPR targets. And then is there sort of a logical approach we can take to this combined recycling and renewable energy line that's now in the revenue build? wherein dealer, consumer, bulk consumer, and collection centres advancements which lead to increase in e-waste generation. 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. In closing, the WM team has delivered a solid start to the year, which sets us up for another year of strong financial growth in 2023. 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. All customers must use approved carts provided by Waste Management. 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. And we were told, hey, your trucks are going to be -- and it wasn't a large amount of trucks, less than a dozen trucks. WM offers waste & recycling services to residents in Moreno Valley, CA. and reused. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 1,000+ Internship Jobs in Paris, le-de-France, France (8 new) - LinkedIn Turning to volumes, first-quarter collection and disposal volume grew 0.8%. e-waste to reduce the long-lasting impact on the environment. Good morning. How much more can that close? But other than that, it's been -- I think the temp story has been a consistent one. Garbage & Recycling | City of Vancouver, Washington, USA But I don't think -- to John's point, I don't think they look at it that way today. It's just everybody needs to understand it. Features: Schedules for trash, recycling and yard debris pickups. With WM as your partner, you can count on reliable service and solutions that help keep our community sustainable, clean and safe. And that's exactly what we're doing in building an optimization tool that understands absolutely the best route to take. We look at the heavy equipment at our landfills and all of that. Our collective focus continues to be striking the right balance between maximizing customer lifetime value and increasing price to recover higher costs. Sat 8 am-12 pm EMAIL pnwrsservices@wm.com Phone 800-592-9995 M-F 7 am - 7 pm Sat 9 am - 1 pm Unincorporated Areas South of the Stillaguamish River Sustainability starts in the community. Service will be delayed one day for the remainder of the holiday week. Just wondering how that positions you given the province -- if Ontario is looking to put in a producer responsibility legislation or as producer responsibility legislation? operations in the informal sector occur at different stages of the And three, cost pressure in our collection and just local business from wage inflation and delayed truck deliveries, which we estimate had about a 20 basis point impact. 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. But keep in mind, part of the M&R pressure is that -- it's not just the trucks we didn't get in 2022, it's we caught up in 2021 from 2022, 2022 to 2023, etc. during the process of refurbishing and hand over the waste to Trash & Recycling Pickup Monterey County, CA | WM - Waste Management So we're going to continue to get those assets in play as quick as we can and drive the benefit. It's a great question, Noah. To find your collection day or schedule reminders, please visit PGH.ST. POPULAR ARTICLES ON: Environment from India. 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. The Motley Fool recommends Waste Management. I think it does, Ken, I think it puts us in a great position there. So let me take that in pieces. We were right on plan for the first quarter. When you are able to hold a lot of your drivers, it makes a big difference in that customer lifetime value proposition. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. Visit our site for information on weekly trash schedules, bulk pickup options & more. Twitter So in terms of the impact, I think when you look at 2022, and the IRD table that we do I think is the best data point for that, fuel was a really significant contributor. Thank you, Tawanda. Mondaq uses cookies on this website. Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map. Click here to view the recycling schedule. Waste Management's Orchard Ridge Drop-Off Facility (W124N9355 Boundary Road) for Yard Waste, excess Recycling, and excess Garbage is open. Waste Removal & Recycling - City of Mentor, Ohio It understands things like location of carts. [Operator instructions] Our first question comes from the line of Bryan Burgmeier with Citi. So it comes to us, as any of our new MRF will, with lower labor cost, 30% is what we're seeing in terms of labor cost per unit with the automation that we're adding. Garbage & Recycling Service | City of Conroe That's right -- theythink these 10stocks are even better buys. Yeah. 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%. This year, we received about 470. And then on the recycling part of the business, the Natura business is in early stages and we're making some investments there, too. And I'll now turn the call over to John to discuss our operational results for the quarter. There's some work that's involved with our public sector team. As Devina mentioned, we almost -- we delivered almost 500 trucks year to date versus 50 last year. This is a much-needed change to the existing regime to put India Garbage, Recycling and Yard Waste | Martin County Florida Refurbisher's are under a duty to collect e-waste generated We expected our first quarter to be the hardest comp on a year-over-year basis from commodity prices, and so we think most of that impact starts to abate beginning in Q2. So maybe it doesn't impact the cost line as much, but perhaps a surcharge line. But I would tell you this, first of all, I looked back. financial year including the e-retailer, will be considered as bulk It should be a net zero. widened and simplified. 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.
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