Report a Missed Pickup. If a holiday falls on a weekday, collections for the rest of the week will be pushed back a day. Your 62 is a good number. Good morning everyone and thank you for joining us for our first-quarter 2023 earnings conference call. It understands the expertise of drivers. It's why we think there's an opportunity for us to take share -- continue to take share, first, because I think the customer service product that we are providing is superior. For more information, visit www.cvwma.com/recycling-2023. 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. So it's a good question. Waste & Recycling Collection Santa Clarita, CA | WM - Waste Management All trash and recycle items must be placed at the curb no later than 6:30 a.m. on your service day. Our business generated free cash flow of $395 million in the first quarter and free cash flow before sustainability growth investments of $551 million, which puts us on track to deliver our full-year guidance on this measure of between $2.6 billion and $2.7 billion. devices, monitoring and control instruments, solar photo-voltaic But how do you see that playing out? Indian Standards framed for this purpose. What's the temporal loss utilization look like? It's a great question, Jerry. We'll have another benefit in Q2 and then that moderates in Q3, reverses itself, and then normalizes beginning in Q4. skip to main . I think it does, Ken, I think it puts us in a great position there. Chesterfield County So we're looking at making sure that we're not just doing a diesel-based fuel surcharge, we're doing a blended surcharge. 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. It's really about permanently lowering our operating expense exposure. We're also opening one new MRF in 2023 in the Greater Toronto area, which positions us strongly in the largest growth market in Canada. These delays impact our team's ability to deliver on residential collection optimization objectives and targeted improvements in our maintenance cost per driver hour. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. Sure. Recyclers are required to ensure that the fractions or material Cost basis and return based on previous market day close. 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. And Jim mentioned that overall, the whole basket of goods has moved up here a little bit as we exited Q4 into Q1 and then even exiting Q1 into Q2. interpretation. 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. focused more on the producer's responsibility to collect back The alternative fuel tax credit was a help of 30 basis points, and that's a help because of timing. Privacy Policy, Download the 2023 recycling collection schedule, Recycling Heroes: Sandston Elementary School, Central Virginia Recycled 57.9% of its Solid Waste in 2021. Chesterfields contract with CVWMA forcurbside recycling services ends on Saturday, July 1, 2023. And so I think they're going to have to understand the fact that hazardous sites are -- there are far fewer of them than there are non-haz sites. as per Compulsory Registration Scheme of the Ministry of EPR is a policy-based approach wherein responsibility is casted 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? Can you share what you might be expecting for 2Q? Ed Egl -- Senior Director, Investor Relations. This strong core price translated into collection and disposal yield of 6.2%, a 70 basis point improvement compared with Q1 of 2022. And that's some of the analysis we've been particularly honed in and on and looking at. e-waste to reduce the long-lasting impact on the environment. and applicability and ensure that all stakeholders follow the same Trash and Recycling | Sarasota County, FL should be scheduled at least 48 hours in advance with Waste Management. 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. So yes, that was a cash flow impact. We'll be at 75% probably by the end of the year. So I think if you look kind of pre-pandemic through the pandemic, we went from obviously historic averages to historic lows, right, in terms of driver retention and turnover for obvious reasons. SG&A has obviously been a big focus for you, and really strong cost control this quarter. 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. What we do is try and work ourselves toward providing better clarity about the key drivers of our business. Your line is open. operations in the informal sector occur at different stages of the 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 set up commercial garbage collection, contact Waste Management at 941-493-4100. How Do I Volunteer for a Board or Committee? It's not all CPI as we've talked about. That's the headline. Waste Managements Orchard Ridge Drop-Off Facility (W124N9355 Boundary Road) for Yard Waste, excess Recycling, and excess Garbage is open. There's a few things that are coming in a little lower than our expectation. So we need to price it that way. RIN pricing would be one of those. WM Holiday Schedule. 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. Or is that momentum building over the course of the year? For this reason, CVWMA stopped providing bins as of Nov. 1, 2022. India would certainly benefit from optimizing e-waste management No collection service provided on New Years Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. 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? And that's really, as Jim mentioned, what we're really focused on for the balance of the year. So I don't know really what the other folks reported, but I would tell you, there's no loss of discipline whatsoever. registered recycler and upload information on the portal. As you continue to look to do M&A as well as you move forward with cost-cutting investments. Recycling can be dropped off at either of the county's convenience centers at no charge. We were right on plan for the first quarter. The new rules have strengthened the EPR concept, which makes It's just we paid everybody time and a half. Carton Recycling Program. So we're certainly confident in that aspect of the guidance that we provided. But when we look at our consumption, we don't just look at the collection line of business. I think it will continue to close. Our balance sheet is strong, and we remain well-positioned to fund growth investments. 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? But I've got a lot of questions this morning. And how do you see that impacting your business? . facilitating the fulfilment of EPR targets. And I mean, there's benefits here potentially to the customers as well because historically, I mean, I forget the last few years. Subcontractors, we're still seeing a little bit of lag there, and it's really more of third-party transporters. So once those trucks come in, once we've talked to the customer base, we will transition those. will be issued a refurbishing certificate for a particular quantity Once you have your container, simply follow the same guidelines as . financial year including the e-retailer, will be considered as bulk With WM as your partner, you can count on reliable service and solutions that help keep our community sustainable, clean and safe. I think as I mentioned, the transportation piece, and a lot of that is labor and fuel, if you will, has continued to persist, which is why one of the reasons why you continue to see us be as aggressive as we are on the transfer station side. Executing on these priorities will produce the robust short-term and long-term financial performance that we've projected. Historically, we anticipated the question. This call is being recorded and will be available 24 hours a day beginning approximately 1:00 PM Eastern Time today. Integration costs and upfront dilutive margins of these acquisitions had about a 35 basis point impact in the quarter. Our team of dedicated experts help learners to work towards a future where they succeed and enjoy communicating with others in French. [Operator instructions] Our first question comes from the line of Bryan Burgmeier with Citi. Service will be delayed one day for the remainder of the holiday week. And how much room for improvement could there be based on the historical ranges of those metrics in prior downturns? So we've chosen to make that -- it's an incrementally positive step to go to C&G. It's just everybody needs to understand it. I mean, there's a whole bunch of factors that go into a full optimization. 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. But I do think your point about being kind of an added synergy here is an important one. Search. GFL will provide you with regular, reliable curbside collection of your recyclables on your scheduled service day, and a suitable bin or container to hold items until they are picked up. Special waste volumes moderated in the quarter due to the timing of event-driven work, but our pipeline remains robust, and we believe that those volumes will provide incremental revenue growth as we progress through Q2 and the balance of the year. . And those have all continued to stay static and in a good spot and service intervals are still positive. About 70% of our resets are in the first half of the year, and those are all indexed to a year-ago activity. So there's a little bit of a lag. Our next question comes from the line of Kevin Chiang with CIBC. With WM as your partner, you can count on reliable service and solutions that help keep our community sustainable, clean and safe. On the dilutive impact of M&A at 40 basis points, that was about half solid waste and half recycling. Leaf it Out! Thanks for taking the questions. Our leverage ratio at the end of the first quarter was two times, which is well within our target ratio of between 2.5 and three times. Overall, you have an assumption all this would improve. But what's the mix of index versus open market? If you have general questions for Martin County Utilities and Solid Waste that are not pertaining to Waste Management-provided services, please call Martin County Utilities and Solid Waste customer service 8 a.m. to 5 p.m., Monday - Friday at (772) 221-1434. at par with the international conventions and global e-waste Until these carts are delivered, customers in these localities may use any container of their choosing for recycling. All other residents may also take advantage of rear door pick-up for a fee. I mean, that's sort of a good canary in the coal mine about business activity. 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. So, John can address the cost side and what we're seeing so far. We returned $639 million to shareholders during the quarter, paying $289 million in dividends and repurchasing $350 million of our stock. This call is being recorded and will be available 24 hours a day beginning approximately 1:00 PM Eastern Time today. I guess just to conclude here you've heard that we're on track for another solid year. The term 'bulk consumer' has been widened and It's a shrinking labor pool. So those are pretty good signs for the overall economy. The National Biodiversity Authority in Chennai has been established for the purposes of implementing the objects of the Act. By using our website you agree to our use of cookies as set out in our Privacy Policy. 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. effective implementation of the Extended Producer's Please note: this program is ending on Saturday, July 1, 2023. Tobey Sommer -- Truist Securities -- Analyst. So we're doing a better job on SG&A than we actually anticipated. 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. To find your collection day or schedule reminders, please visit PGH.ST. I like the way you said that, Michael. ET. I wanted to just ask my follow-up on the sort of more recent, like April, late March trends. Kitsap County, Washington - Garbage, Trash, recycling, Yard and Waste Couple of things are helping us. 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. Look, I didn't see what their numbers were at. Including Millwood. All customers must use approved carts provided by Waste Management. The second is that truck deliveries are improving. fulfil specific responsibilities. 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. retailer, e-retailer, etc. Sean Eastman -- KeyBanc Capital Markets -- Analyst. 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. I'm not going to pay three times for an electric vehicle, what I pay for a CNG vehicle. There's some work that's involved with our public sector team. informal sector of recycling. awareness about e-waste management, and file annual and quarterly 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. Right. Looking forward to seeing a lot of you next week in New Orleans. modules or panels or cells, which are discarded as waste, I think, Jerry, it's also worth mentioning that our team is, over the years -- the last couple of years has really come to appreciate the fact that landfill aerospace is a precious commodity and if you think about particularly the East Coast, that space doesn't come cheaply and it's -- there's a finite life to all of those. California Mandatory Recycling Laws - Waste Management For rates and to request these services, visit wcnorthwest.com/bulky-items or call 360-892-5370. Responsibility ("EPR"), a major chunk of it enters the Log in Sign up OK. Phone 877-466-4668. We need this to enable us to match you with other users from the same organisation. But our expectation is that, that moderates. Like any change in conversations that you're having with customers? Our operating EBITDA margin performance for the quarter was generally in line with our expectations. First-quarter revenue grew 5% with continued strong organic growth in the collection and disposal business of 7%. 2022, SB 1383 requires Californians to sort and separately collect food scraps, yard debris and food-soiled paper from trash and recycling. Call 941-493-4100. 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). OK. The Village contracts with Waste Management for this service. You mentioned in the prepared remarks, getting the additional truck orders fulfilled and that getting more back to normal. Thank you so much. Households that recycle with CVWMA in Henrico, Hanover and Goochland counties will automatically receive new 96-gallon recycling carts in the spring. service address customer ID Address Address Verify LOCATE CUSTOMER ID OR Log in Email Email Password Show Password Forgot password? Changes to Curbside Recycling in 2023 Beginning July 1, 24-gallon bins and personal containers will no longer be collected curbside. Maybe you can talk to your sense of the mills inventory position on recycled fiber. Investments we are making in our people and processes are also important. 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. Pickup Schedule & ETA - Waste Management 2023 to 70% and 80% in 2024 and 2025, respectively only through Hi. Just a little bit of timing -- a little bit detail about how much about the timing of improvement on margins. Incentive compensation was cash flow. I think, Kevin, one important point here about electrification is that it's not a surprise to anybody on this call. e-waste by the bulk consumer has been done away with but they need consumer, component, dismantler, environmentally sound management Our next question comes from the line of Tony Bancroft with Gabelli. Spokane County, including Millwood Washington - Waste Management Northwest 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. City of Houston Solid Waste Management Department These entities are I know you obviously had the curves here versus some of your peers on investing in CNG and RNG suites. Thank you, Tawanda. New Internship jobs added daily. You're seeing us price it that way. employees. Service fees may apply. Select your locality from the drop-down menu, then enter your address. When you are able to hold a lot of your drivers, it makes a big difference in that customer lifetime value proposition. So the service interval piece, Michael, is still positive. TTY: 7-1-1or 1-800-955-8771. People are talking about hydrogen. 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. Thank you. 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? Learn More, Waste Management(WM 0.45%)Q12023 Earnings CallApr 27, 2023, 10:00 a.m. The automotive industry across the world is presently undergoing a paradigm shift in trying to switch towards more energy efficient alternatives for mobility. 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. On the labor front, I said in my prepared comments, we were close to high single, low double digits, and that's moderated back down to mid-single digits. Yeah. Municipal trash and recyclingEffective January 1, 2021, the fee will be $90 per quarter ($360 annually). 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. registered entities. This has led to some non-regrettable volume losses in our residential and commercial business. Good morning. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. But everything we're looking at still seems to be OK. AB 341 requires all businesses that generate 4 cubic yards or more of trash per week to arrange for recycling services. So that certainly is a benefit going forward throughout the year. And I would guess that 90% of that 70% are on rear loaders. 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. Electrification always comes to mind. And that cost about $6 million to the quarter just in terms of incremental spending that we did on the business. 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. Learn more about the curbside recycling transition by reading the, Explore our parks, facilities and programs, Find latest alerts, incidents and reports, Central Virginia Waste Management Authority, Tidewater Fibre Corporation (TFC) Recycling, Central Virginia Waste Management Authority (CVWMA), Email Waste and Resource Recovery Division, Freedom of Information Act Requests (FOIA). Sat 8 am-12 pm. Instagram I know it historically don't, but I think it helps put in perspective Tyler's question. Producer will be required to provide detailed information on Schedule I of 2022 Rule, at any point of time in the particular They just happen to be higher than our expectations. Recycle Coachis your go-to source for all garbage, recycling and hazardous waste information. pnwrsservices@wm.com. Debris must not exceed the lid of the cart or you may experience a delay in service. What's really important there, I think, in terms of thinking about what it means for the rest of the year is that, that impact isn't something that repeats itself. To schedule rear door garbage service, contact Waste Management at 941-493-4100. over the producers of specific category of waste for the treatment Waste Removal & Recycling - City of Mentor, Ohio 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. Yeah. Q1 was at $54, but it got better as you went through the quarter. Recyclable Glass Drop-Off Program. With me this morning are Jim Fish, president and chief executive officer; John Morris, executive vice president and chief operating officer; and Devina Rankin, executive vice president and chief financial officer. prohibited from dealing with unregistered players. Yeah, Kevin. So let me take that in pieces. So that moderates and really starts to become a tailwind over the remainder of the year. 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. e-waste recycling targets to the producers. laboratory instruments etc. To check your recycling day, visit Central Virginia Waste Management Authority (CVWMA). Yeah. Free RecycleRight App - Better than EVER! We're not -- because we haven't been receiving the trucks, I mean, you can't make that swap obviously without the truck. Yeah. Time . During the call, you will hear forward-looking statements, which are based on current expectations, projections, or opinions about future periods. WM Curbside Refuse Container Sizes and Rates 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.
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