With WM as your partner, you can count on reliable service and solutions that help keep our community sustainable, clean and safe. to ensure that e-waste generated by them is handed over only to It's a great question. retailer, e-retailer, etc. 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%. recyclers; Residue generated during recycling process is disposed But would a state like California look at your RNG fleet differently than, say, a typical owner operator running a Class A truck just because you're producing on the front end as well when you're creating a circular economy? Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map. Sure. For information, go to www.chesterfield.gov/recycling. This strong core price translated into collection and disposal yield of 6.2%, a 70 basis point improvement compared with Q1 of 2022. Including Millwood. will be issued a refurbishing certificate for a particular quantity That's helpful. And you mentioned a number of one-offs in the first quarter. But just given some of the stuff you've seen, not sure if you think that impacts your fleet strategy or maybe the need to accelerate some of the investments in electrification or other -- or some other type of propulsion system that gets you to some sort of GHG emission target based on the EPA's proposal here. All businesses in Sarasota County are required to use the countys franchised waste hauler, Waste Management, for garbage collection services. But at the same time, we are continuing to look at other propulsion techniques, if you will. Public transport in Paris and le-de-France: itinerary planner; metro, RER and bus maps; information on: traffic, fares, hours, areas To hear a replay of the call access the WM website at investors.wm.com. ("Rules"), superseding the E-waste (Management) Rules, 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. Without this team, none of this would be possible. Thank you. But as I said, most of that really comes in Q3 and Q4 when the year-over-year comparisons on commodity prices improve. I'll now turn the call over to Devina to discuss our financial results in further detail. So the service interval piece, Michael, is still positive. Now we tend to be kind of at the back end. All other residents may also take advantage of rear door pick-up for a fee. Bryan, we are still looking to see $70 for 2023. But I do think your point about being kind of an added synergy here is an important one. Or how are you thinking about that opportunity? Phone 877-466-4668. OK. And some of those changes, our customers are going to begin to see in the second quarter. And I'm just wondering how you view that. Recycle Coach is your go-to source for all garbage, recycling and hazardous waste information. How Do I Volunteer for a Board or Committee? Your line is open. So we're certainly confident in that aspect of the guidance that we provided. This is a much-needed change to the existing regime to put India Can I ask just a follow-up on that? The majority of that, though, really, as we all know, runs through that residential line of business. So you might recall that last year, we got -- there was a delay in the approval of those tax credits by government. So as Jim was saying earlier, specific to the commodity-based businesses, we have some caution around those. And that's exactly what we're doing in building an optimization tool that understands absolutely the best route to take. effective implementation of the Extended Producer's Ed Egl -- Senior Director, Investor Relations. Or is that momentum building over the course of the year? I wanted to just ask my follow-up on the sort of more recent, like April, late March trends. 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. When you entertain conversations with smaller players in your M&A outreach, what are you hearing from them about the impact of higher rates and the kind of persistent required tech investments to stay competitive with the market? Turning to operating expenses, which increased 70 basis points as a percentage of revenue to 63%. We finally now know where all of our assets are. Good morning. Also looking at some of our volume numbers, especially MSW, MSW was 2.7%. Yeah. There were two primary contributors to our first-quarter results, the dilutive impact of recent acquisitions and continued inflationary cost pressure. If containers were curbside by the specified time and were not emptied, you can report a missed pickup online with My WM. Thanks for taking my question here. Waste Connections customers are eligible for one free appliance pickup each year. Visit the CVWMA What to Recycle webpageor contact your private hauler for more information. So this is anecdotal, Michael, but we did our business refused with all our areas last week. e-waste recycling targets to the producers. produces an appalling amount of e-waste and due to lack of We'll have another benefit in Q2 and then that moderates in Q3, reverses itself, and then normalizes beginning in Q4. in a particular year and same shall be added to the target of the So I think we're in a good spot there regardless of what the technologies. And when we look at Q1, it was certainly higher than that. But still, I think you're seeing the discipline there around pricing very strong. Waste Managements Orchard Ridge Drop-Off Facility (W124N9355 Boundary Road) for Yard Waste, excess Recycling, and excess Garbage is open. primarily emphasize on proper recycling and safe disposal of So would that change just be received positively by customers as maybe a way to help reduce volatility to them on the cost side? Your 62 is a good number. Refurbisher's are under a duty to collect e-waste generated 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. And that's really, as Jim mentioned, what we're really focused on for the balance of the year. Recycle Coach App. 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. All right. For holidays on Saturday or Sunday, there are no delays. for verification or audit as and when required. It understands the expertise of drivers. And we've already seen in Q1, our fuel surcharge revenue in Q1 versus Q4 of last year was less than half on a year -- or on a sequential basis. No, So I think -- listen, we're thrilled that the supply chain and truck deliveries are starting to abate. Our balance sheet is strong, and we remain well-positioned to fund growth investments. Noah Kaye -- Oppenheimer and Company -- Analyst. So part of our pricing strategy, obviously, a minimum to recover our investment there, but also look for margin improvement where that opportunity exists. Thanks, Jim and good morning. Debris must not exceed the lid of the cart or you may experience a delay in service. And then just on recycling, just trying to get some better gauges or indicators of demand. If a holiday falls on a Saturday or Sunday, there will be no delays. Jim Fish -- President and Chief Executive Officer. When you combine these strategic positioning -- when you combine this strategic positioning with the essential nature of our service, our diverse customer base and our recurring revenue streams, it provides confidence in our ability to continue to reach our strong financial projections over the long term. employees. So $57 was our average in the month of March. 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. 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. 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. Vous voyagez Paris ? 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. It's actually -- well, one from last summer, which would be lower than the CPI that was at the end of the year. 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. And then, of course, the third one is when we talked about three weeks ago, which are those sustainability investments. Learn More, Waste Management(WM 0.45%)Q12023 Earnings CallApr 27, 2023, 10:00 a.m. Yeah. The automotive industry across the world is presently undergoing a paradigm shift in trying to switch towards more energy efficient alternatives for mobility. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. other manufacturers or suppliers; or. fulfil specific responsibilities. When we gave our guidance for 2023, we talked about working capital being a headwind in the year. Thank you for the question. 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. We're also seeing a pretty significant uptick in pricing for plastics, for aluminums and a little bit for OCC. Recyclable Glass Drop-Off Program. prohibited from dealing with unregistered players. Find your solid waste collection schedule, and use the. *Pickups for over-sized waste must be scheduled at least 48 hours in advance with Waste Management. And I mean, there's benefits here potentially to the customers as well because historically, I mean, I forget the last few years. For more information regarding yard waste disposal, please visit our Yard Waste Disposal webpage. But just any thoughts on the pricing environment, your go-to-market strategy? 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. 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. As I mentioned on the commodity businesses, that was 50 basis points of the impact in the quarter. And then as we're getting into April, we're seeing that continue to improve. as per Compulsory Registration Scheme of the Ministry of I know it historically don't, but I think it helps put in perspective Tyler's question. When we talk about it probably four years ago, we're talking about something less than 1%. 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. producers responsible for the entire life cycle of their products. We saw strong yield performance across all lines of business and are particularly proud of our post collection yield. 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. 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. If a holiday falls on a weekday, collections for the rest of the week will be pushed back a day. But other than that, it's been -- I think the temp story has been a consistent one. Prefer to use your computer instead? Please contact the CVWMA at 804-340-0900 to request free recycling stickers for containers you own. 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 you mentioned in higher incentive compensation, I wasn't sure if you were talking cash flow or EBITDA. But any heightened recession concerns with your customers? But this area turned their trucks back in and then we got delayed another 30 or 45 days on some of the delivery. Click on the map to enlarge. The infrastructure is simply not there yet to handle this. But it is worth saying that we view this as a big opportunity for us and for all landfill companies once they've kind of finally decided exactly how this is going to be handled. 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. responsibility: This is a welcome change in today's scenario where Look, I didn't see what their numbers were at. Check for holidays that may affect your WM trash or recycling services within the next 7 days. The Florida Department of Environmental Protection recognizes businesses, institutions, schools, public organizations and citizens who recycle over 40 percentof their waste. And he talked about 30% productivity pick up there. And it's got to be through technology. Property owners may continue recycling through the county's curbside recycling program through June 30, 2023, for no charge. ET. Producer of EEE and their components are responsible for Free text and/or email reminders the evening before your scheduled pickup, including holiday delays. as per the revised Schedule I of 2022 2. 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. Our next question comes from the line of Sean Eastman with KeyBanc.
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