include solar photo-voltaic modules or panels or cells, which are 2. 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. Tobey Sommer -- Truist Securities -- Analyst. EMAIL. Our next question comes from the line of Stephanie Moore with Jefferies. Or is that momentum building over the course of the year? We returned $639 million to shareholders during the quarter, paying $289 million in dividends and repurchasing $350 million of our stock. In terms of unit cost inflation, we expected in 2023 about 4% to 5% unit cost inflation for the year. to the amendment, detailed information had to be included in the And when we look at Q1, it was certainly higher than that. The Motley Fool recommends Waste Management. But can you just expand -- and really nice to see the strong numbers, both in transfer stations and landfills. produces an appalling amount of e-waste and due to lack of Right. RIN pricing would be one of those. Welcome to the Alliance Franaise de Paris! Or is that still kind of an unknown now in terms of how they might treat that? And that's exactly what we're doing in building an optimization tool that understands absolutely the best route to take. Recycling service provider listcan advise on appropriate recycling service levels. Call 941-493-4100. HELP KEEP COSTS DOWN - RECYCLE SMARThttps://recyclesmartma.org/Remember not everything is allowed in your single stream recycling bin. All trash and recycle items must be placed at the curb no later than 6:30 a.m. on your service day. Actually a quick one. When you are able to hold a lot of your drivers, it makes a big difference in that customer lifetime value proposition. This is a much-needed change to the existing regime to put India 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). So that certainly is a benefit going forward throughout the year. I guess just to conclude here you've heard that we're on track for another solid year. 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. We knew that there would be some upfront costs associated with integrating that business. And last question for me. 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. Privacy Policy, Download the 2023 recycling collection schedule, Recycling Heroes: Sandston Elementary School, Central Virginia Recycled 57.9% of its Solid Waste in 2021. Any regular Friday collection delayed by a holiday will occur on Saturday. Just wanted to get that confirmation. Beginning November 1, 2022, MassDEP is expanding its current waste disposal bans to include mattresses and box springs. 1,000+ Internship Jobs in Paris, le-de-France, France (8 new) - LinkedIn Hi, team. in a particular year and same shall be added to the target of the 2022, SB 1383 requires Californians to sort and separately collect food scraps, yard debris and food-soiled paper from trash and recycling. Invest better with The Motley Fool. Our next question comes from the line of Sean Eastman with KeyBanc. Recyclables, yard waste and any large or special pickup items must still be placed curbside. Holiday Waste Pickup Schedule | WM - Waste Management Waste Connections customers are eligible for one free appliance pickup each year. Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map | Line map. Phone 877-466-4668. 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. 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. All other residents may also take advantage of rear door pick-up for a fee. Get Free Compost / Mulch. Yeah. recycling or disposal. OK. That's very helpful. WM offers waste & recycling services to residents in Santa Clarita, CA. Particularly when you think about it on the East Coast and on the West Coast, I mean, maybe not quite as much in the middle of the country, but definitely on the East Coast, I mean, you see it. 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. So those are the things that give us so much confidence that Q2 really will be outsized relative to a typical year. 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. Recyclable materials are collected every other week. The good news is we're starting to open up. It's not a negative. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. retailer, e-retailer, etc. This call is being recorded and will be available 24 hours a day beginning approximately 1:00 PM Eastern Time today. Anybody who lives in New York sees it, anybody who lives in Boston sees it. Getting trucks delivered will also be key to residential automation. So you might recall that last year, we got -- there was a delay in the approval of those tax credits by government. Incentive compensation was cash flow. We finally now know where all of our assets are. We recognize that these have a finite life to them. Obviously, the banking crisis sort of doesn't impact your business as much as some of the other business services companies. The first is that we're pleased with the continued progress on our sustainability growth projects relative to plan. Is SoFi Stock a Buy Now? I mean, there's a whole bunch of factors that go into a full optimization. required to register on a central portal to continue operating and The lids on both carts must be closed to ensure litter free service. 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. Thank you for the question. Sure. And I'm just wondering how you view that. But as we do that, we think there's another probably up to 2,000 positions that are helpful positions that we just will choose not to refill. It's almost always been the lowest yield number on a quarter-by-quarter basis. Thanks. So I think you're right about the fact that there's a whole bunch of pieces in play here. 2016 with effect from 1st April 2023. 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. Looking forward to seeing you in New Orleans. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. I'm guessing kind of late 3Q, you probably didn't hear a lot of phones ringing in terms of requests for product. We're not -- because we haven't been receiving the trucks, I mean, you can't make that swap obviously without the truck. Refurbisher's are under a duty to collect e-waste generated Thank you. On the capital front, there are two key takeaways. Looking forward to seeing a lot of you next week in New Orleans. So I think what's important in giving color to the dilutive impact from the M&A that we saw in Q1, it really was twofold. Public Works supervises the contracts for automated solid waste and recyclable collection. I know it historically don't, but I think it helps put in perspective Tyler's question. And it was not -- there wasn't one less workday. 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. Thank you so much. Thank you. Turning to SG&A, we're pleased with the progress we're making to drive leverage from a more efficient cost structure. 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. 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. 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. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. The Motley Fool has a disclosure policy. 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. Thank you. The refurbisher will That's helpful. Your 62 is a good number. 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. So let me take that in pieces. and reused. Henrico, Hanover and Goochland Counties And one of our areas actually was scheduled to return some rental trucks which, as you can imagine, are done at a premium. Your line is open. And if you need additional color on that, Ed and Heather are sure to get you the details that you need. 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. human well-being for today's generations does not lead to So really you have high visibility on essentially getting to your margin run rate as early as 2Q. WM offers waste & recycling services to residents in Moreno Valley, CA. So normal seasonality is your margins are up about 200 basis points second quarter versus first quarter. Composting is relatively easy and takes less space than you think. certificate and deferred liability has also been introduced, for Our collective focus continues to be striking the right balance between maximizing customer lifetime value and increasing price to recover higher costs. India is third largest e-waste generator in the world. And while we don't send a lot of stuff straight to China anymore, they do affect worldwide demand. And maybe the most important piece that John mentioned is it helps us from a safety standpoint. product user documentation. 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. We always are looking at what makes best sense for the shareholders. Sustainable development can be interpreted as "development 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). Environmental concerns regarding the Youll only need to do it once, and readership information is just for authors and is never sold to third parties. OK, perfect. 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. As Jim mentioned, our first-quarter organic revenue growth in the collection and disposal business was 7%. And those have all continued to stay static and in a good spot and service intervals are still positive. That's right -- theythink these 10stocks are even better buys. 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. Also looking at some of our volume numbers, especially MSW, MSW was 2.7%. Thank you. Your recycling matters and the County wants to help you recycle right! The majority of that, though, really, as we all know, runs through that residential line of business. So we're excited about the MRF coming in to Toronto. So would that change just be received positively by customers as maybe a way to help reduce volatility to them on the cost side? 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. Accueil | Alliance Franaise Paris - le de France Search for upcoming holidays that may affect WM trash and recycling service in your area. The term 'bulk consumer' has been widened and That's really interesting. No, that makes a ton of sense. Couple of things are helping us. Residents may also submit concerns or issues to the Village online with GONorthbrook or via phone at 847-664-4010. Have you seen those improving? So $57 was our average in the month of March. Our next question comes from the line of Toni Kaplan with Morgan Stanley. Search. And so what we are seeing is that that revenue decline should actually benefit the margin side of the business. By state law, yard waste - such as grass clippings, leaves and tree branches, may not be put in the trash. 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. OK. Trash & Recycling Collection Reno, NV | WM - Waste Management You mentioned in the prepared remarks, getting the additional truck orders fulfilled and that getting more back to normal. 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. I don't know, Michael, we've seen a meaningful movement there. Blanche Ames Elementary Construction (MSBA), SE Regional Technical Vocational High School, A 64-gallon trash bin is accompanied by a 96-gallon recycling bin (the largest available from any provider), each picked up weekly. Thank you, Tawanda. The Form 8-K, the press release, and the schedules to the press release include important information. and safe disposal of such waste. And historically, Q1 has been the lowest yield for us over a period of probably a decade. Richmond, Petersburg, Colonial Heights, Hopewell and Ashland Jim Fish -- President and Chief Executive Officer. To print this article, all you need is to be registered or login on Mondaq.com. goals. But I do think your point about being kind of an added synergy here is an important one. Contact WM at 775-329-8822. 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. 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? So you're right. But what's the mix of index versus open market? And I'm not sure we've priced it that way over the years. And then you mentioned in higher incentive compensation, I wasn't sure if you were talking cash flow or EBITDA. 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. And it's got to be through technology. So do you think we see EBITDA margins inflect in 2Q or at least maybe approach flat and they inflect in 3Q? So sometimes we don't see the early signs. And so there was a delay in our recognition of those tax credit benefits until the third quarter of 2022. recyclers; Residue generated during recycling process is disposed Visit our site for information on weekly trash schedules, bulk pickup options & more. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. Michael Hoffman -- Stifel Financial Corp. -- Analyst. Garbage & Recycling - City of Orem Thanks for the question. These adjusted measures in addition to free cash flow, are non-GAAP measures. Please refer to the service map to determine collection days. 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. . So we're doing a better job on SG&A than we actually anticipated. So those three are really kind of our near-term focus that will help us out in the long term. 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. 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. I'm not going to pay three times for an electric vehicle, what I pay for a CNG vehicle. E-Waste, Paper Shredding, Drug Take Back Events. So we need to price it that way. And now we're talking about much higher numbers, albeit in a higher inflation environment. AB341: Recycling. Get the WM app to make service requests on the go. Devina Rankin -- Executive Vice President, Chief Financial Officer. Our next question comes from the line of Tony Bancroft with Gabelli. 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. The good news is, like we said, there's almost 500 trucks that are on the ground, not in service yet. We're also seeing a pretty significant uptick in pricing for plastics, for aluminums and a little bit for OCC. 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? Waste Managements Orchard Ridge Drop-Off Facility (W124N9355 Boundary Road) for Yard Waste, excess Recycling, and excess Garbage is open. will be issued a refurbishing certificate for a particular quantity Garbage & Recycling | City of Vancouver, Washington, USA For more information regarding yard waste disposal, please visit our Yard Waste Disposal webpage. What we do is try and work ourselves toward providing better clarity about the key drivers of our business. And then on the recycling part of the business, the Natura business is in early stages and we're making some investments there, too. 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. 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. 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.
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