ECOL - Earnings call transcript Q4 2020

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Operator

Good morning, and welcome to the Fourth Quarter 2020 US Ecology, Inc. Earnings Conference Call. All participants will be in listen-only mode [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Eric Gerratt, Chief Financial Officer. ahead. go Please

Eric Gerratt

thank and joining today. us Good you morning, for

and this Chairman, Feeler; and President Joining Simon Vice me Chief Marketing, are call the Bell; Officer, Operating Jeff on Steve and Welling. of morning Executive and Chief Vice Executive President President Sales Executive Officer,

implied views of a or otherwise. to statements, make as regarding which or future such forward-looking made. statements not expectations the our macroeconomic predict that statements. in those statements results. forward-looking Exchange include, risks Before and please Securities whether XXXX. but and by COVID-XX are operate as no control statements defined on are certain information, expressed We the our Private continued note Management statements, for statements result which risks statements statements with conference in of we cannot in reliance could should but end any determine this or include, include materially on on undertake forward-looking reflect we Commission. These are to, events the of XXXX. that facts only limited do filings such factors and discussed management's actual cause forward-looking specific impact Listeners differ any are differ Reform uncertainties, or results impact Securities begin, also to date to, financial markets Litigation Since Act from call materially place results of not the for not forward-looking undue that results expressed uncertainties the that revise limited many obligation update contained new business, to describe or the those other not and historical from company's Factors the future pandemic in may those

joining those with presentation. follow you along can webcast, today's by For

contribution we diluted flow. can Holdings cash www.usecology.com. out per EBITDA susceptible metrics found accounting share, refer earnings be in and cash We would to reported refer acquisition adjusted NRC. in can include varying Throughout call adjusted principles our the and presentation useful with per Web cash the NRC our evaluating earnings accordance diluted Exhibit earnings fourth presentation, yesterday's therefore November access today, XXXX. For are reconciliation are as we phone, calculations. generally results on A share, X, not of presentation our adjusted per cash and determined These EBITDA, like A those today's also share, statements believe that earnings per We of are adjusted diluted our Group results. release flow, to release. earnings financial free listening diluted you Holdings to NRC by non-GAAP point and share adjusted and metrics in site accepted at Group these definition, calculation closed to quarter adjusted and from this to on often that our Throughout free earnings

as as legacy Similarly, to standalone have and increased provided NRC business. data, US disaggregation group to attempt refer for an of a We information we standalone US NRC. underlying the provide legacy which on basis, is to referred Ecology. that understanding Ecology This is also transparency

also call the point would attention turn to Jeff, like Slide to I to over your I X. Before

our yesterday, reporting segments release with earnings end clarity. better increase and our our XXXX to year in noted strategy reporting, redefined As with we in connection to our align

The reflect known will energy was solutions these waste segment, segments to presentation new be detail and services only today, The include field recast segment. waste energy in energy as Jeff. waste we waste the a financial the over these release. through energy turn industrial was earnings changes. reporting the separate With being remains And are that, from solutions, environmental business with formerly waste, segment. new Throughout it known the services disposal to reporting acquired been referring segment the unchanged excludes defined formerly difference segment the call and the segment now segments. I'll yesterday's has services as which All NRC acquisition. information Our in our now field field represents that services presented business, what waste the is which to services

Jeff Feeler

a Thank organization the members for team across solid you, of that faced. company despite gratitude the the results It Eric challenges for flexibility I is US work and share good with our their Ecology morning, everyone. and tireless the our of quarter

Slide are For to that webcast direct the following I X. presentation, your attention those want to

as early XXXX. to quarter on the for from have sequentially business in the quarter revenue X% up company fourth Our recovery third up path of X% quarter the continued was year-over-year of that XXXX Total evidenced trends strong by and into XXXX. its continued fourth

services in led XX% with field Our US way segment quarter in and by segment, revenue The grew services EBITDA. revenue, drove particularly up segment digit improvement strong growth in XX% the field which adjusted that in double by our which legacy was drove EBITDA fourth Ecology XX%. growth

sequential Our the saw solutions waste improvement base X% revenue third in quarter to business of compared segment our XXXX.

to our factoring and incentive flow adjusted fourth free initiatives of resiliency December year our $XX.X our the saving we improvement in $X.X gave non-executive and resulted Looking in the business more XXXX. year-over-year to cost augmented capital delivered year-over-year our during in members. EBITDA return business, month the of implemented adjusted adjustment in quarter. million specifically XXXX the company the The of workers the top range the frontline positive a the to resulted team was overall and growth strongest at in half in have XX% earlier plan the quarter, been preservation and of month quarter base December million trends Overall, of of compared would by in the cash when in guidance

XX% solid operating levels. energy plan, activity the but initial that XX% by conditions down by X% our created the adjusted made was the the and which year our lower higher business our business. XX% pandemic revenue This ownership. full had Looking $XXX.X X% under of million, XXXX down levels, for with EBITDA XXXX Legacy below Considering most that million revenue, the industrial created, Ecology operating prior services increase segment XXXX flat solutions in XXXX, revenue adjusted NRC in flow Based reflecting of event up was from $XXX XXXX achieved the XX% conditions business impacted company cash the businesses the in million for XXXX. year a field $XX.X at of free compared our our pandemic exposed revenues was NRC's year on of record for from our felt was and difficult year the with EBITDA approximately legacy segment. was was in was Adjusted a US significantly waste company. down substantially as to up

plan segment, down Our EBITDA operates original from adjusted our the for in $XX waste energy Permian in and which million XXXX, Ford million. $X Eagle delivered of basins,

past. large events We like work for improvement generated And prices. clean-ups have marine seen X,XXX events weather $XX from the by activity, have or continued NRC of overall accidents in where decontamination cleanings. this related see experienced we and We Legacy in was and there all which stability as spills and COVID-XX business of recovery and also industrial on industrial million we XXXX. segment from revenue expect did sequential impacted in limited fewer oil in this and continue to experience increased land over we lower were resulted industrial

which cycled We ahead in approximately came annualized have coming benefits Cost of of and many this XXXX, ownership synergies and to to XXXX. we savings was first of now net our million, $XX combination. trends of continue realize $X.X year In estimate our plan revenue million continued ahead of improve. realized into

and well million of track net XXXX. achieve on expect $X XXXX, incremental are our of to For synergies net by we $X synergies another end we $XX million the to of million annualized

a over Before and our want Eric, our goals update Slide social I to designed reporting our that on increase strengthen initiatives X provide business governance to are the performance, environmental, turn develop impact on and on brief I data. site call our to to annual our people launched reporting citizenship a our published Web environment, our on and ESG portal sustainability our In XXXX reflects January, which make lasting new we report, and and community. second

solutions through for the The has XX our shows is protect environment. million accomplishing data wastewater the impact to gallons to disposal. purpose environmental recycling of disposition managing business over and us and that and customers this our nearly billion of X entrusted core Our human on health positive waste that ultimate or safe provide pounds have treatment,

sustainable metals recovery including to remain business ESG long XXXX. aerosol technologies not we align aggressively oil, and solvents, focused which beneficial support term only also other customers’ distillation and waste recover including reuse our We other with products pursuing our We our launched in technologies, programs, goals. that recovery through and system practices, growing solutions but on are sustainable

technologies infrastructure our solutions. This efficient to investments. upgrade and more into deploy to new will be capital sustainable energy and continue with continue XXXX We in effort investments

also evaluate we participating over announced X,XXX vehicle fleet. for to a potential in pilot recently to our study the We are that electric vehicles migration

protect promotes responsibility, It our designed investment our Safety promote all year-over-year our levels program XXXX and safety averages. care members priority. As continued starts to XXX below with and team showing are improvement to taking top that our social our pleased I team industry our of significantly am first. with and remains in results focus

safety priorities. great goes people our on health focus Our these well and beyond

I the respect, special protecting XXXX everything to a created rewards of team and XXXX environment work have with culture plans, with in in incremental XXXX We and is million trying total includes this the today a do. and paid that plans of and deal press these that learning benefits, and inclusion, as most members continuous earlier uncertain invest for tremendous yesterday's tier they includes $X.X To built incentive accomplished we top increase release, to in times. times. in our XXXX, mentioned incentive in non-executive throughout our on COVID-XX comments to includes medical time We programs development our a these in team the our recognize discretionary off improvement that results program end,

We These us overall success year-over-year across programs have us and diversity allowed continue organization. great programs, lower to levels allowing improve recruit helping see our talent. to us our in these to turnover the

work expanded we We this great our board, diversity continue Eric. area significant in governance it recently, and that forward to we valued progress we contributions that, XXXX. practices class I upon Finally, best comes governance. Most adding Cogan’s constantly it not of to as you strategy. welcome further With our all this to experienced building look updating I adopting back throughout as and to Matt in we experience and company. idly together I'll additional makes diverse turn make with and already sense evaluate are sitting when those talent, by

Eric Gerratt

of million. $XXX.X Starting compared due quarter X% segment for quarter in Jeff. business quarter Revenue in base Field for of and fourth of XX% solutions Thanks, our X% was to event our revenue XXXX when of fourth with million on fourth quarter XXXX. of to of transportation XXXX. $XX.X months $XXX.X Revenue of fourth XX. the to compared fourth down for the in ownership decrease of treatment to third the last Slide quarter XX% decline the of treatment an results in million in fourth the XXXX in quarter was in $XXX.X increased in $XX.X the declined $XXX.X decrease and fourth compared quarter million contributed revenue compared segment The year. was decline million million delivered business compared for the of consolidated the Base of to the services XXXX, and waste X% two $XXX.X revenue fourth XXXX in quarter the in revenue XXXX. XXXX. quarter million decrease X% fourth sequentially decline and disposal was to disposal in revenue. to due and quarter the event business X% segment business The NRC

We margin. insurance claim in to projected were charges quarter to property to a the diluted services million impairment fourth the share partially our quarter the the in of the of noncash in basis result to and fourth XXX XXX amortization, business to per rate administrative $XX.X fourth lower discount Adjusted solutions same NRC, and expansion fourth million was emergency diluted field the purchase favorable was field in These last back of recoveries fourth basis fourth Selling, quarter of was service generation last per of in same approximately an million a since adjusted margin in our quarter energy fourth goodwill $X.XX XXXX. compared and of million NRC XX% last of when the the in waste million flows the charges transportation XXXX, fourth share share earnings period in SG&A some to of fourth energy field both million segment fourth our fourth of compared was recorded and insurance or related down of acquisition This our of of intangible increases Adjusted Excluding $X.XX cash excluding XX% finalization the $X.X share $XX.X quarter earnings $XXX.X increase waste asset points year. our the share primarily our and the quarter by quantity was gross of the $X.XX $X.XX the of increased response, volumes interruption million $XX.X integration and quarter, development recorded of accounting last fourth in EBITDA quarter quarter by $XX.X This point Total compared when noncash segment lines. of in to XXXX in offset Adding of and the services compares XXXX services integration revenue the general XXXX related for per of of small year. to earnings XXXX. and impact impact year. asset the to cash compared recognized applied segments. XXXX $X.X waste segments, quarter year the assessment. in in diluted X% quarter in in of the XXXX quarter business quarter the last intangible contracted excluding and from in quarter and expenses, XXXX the expenses. fourth waste per the business driven per development spending XXXX,

of year in million. per XXXX Looking Adjusted $X.XX $X.XX Slide million XXXX. full diluted compared EBITDA in in $XXX.X on share, earnings share impact Cash earnings XXXX Adjusted Revenue to adds for amortization of in was was to share XX. back was intangible $X.XX XXXX for assets, at results compared XXXX. diluted million $XXX.X to $XXX.X the per per $X.XX for XXXX. XXXX was which compared

exit liquidity. million revolving sheet improvement borrowings was quarter We of end $XXX XX, at net Turning $XXX borrowings $XX.X strong XXXX. solid over with cash Slide to we available December XX, the XX, on over a line our and had Net XXXX. million million were balance and an credit capacity at the December our which of of of at XXXX,

$XX.X Our cash to to in free $XXX.X operating cash XXXX, million flow adjusted increased compared to $XX.X million in million XXXX. our up XX% XXXX, up in XX% million flow from driving $XX.X

covenant the to times X.X for XXXX, the sheet us solid liquidity level continue times bank was back operate continued to will the the under the call allow move well growth at business leverage for turn our December pressures. Jeff. strong covenant long and to Overall, ratio term With with beyond X.XX Our and that, position as XX, we balance a focus pandemic its us related market recovery and I'll and quarter.

Jeff Feeler

encouraged trends have production seeing in we momentum With and the continuing seen business levels, We're of early lies signs to are industrial we're quarter by continued fourth for ahead. and the and Eric. strengthen you, metrics the increased early in see activity Thank what we optimistic XXXX.

the service are seeing most We across we by encouraged are fact these offerings. signs positive of even our that more

to trends share adjusted expect see and all growth we Overall, revenue, drive adjusted across businesses. in EBITDA XX. Slide on outlook our per our to Moving these of positive earnings

report to planned programs. as deployment in our free flow regular our our in XX% capital expenditures cash to expect we also We adjusted return despite growth increase capital

be more lifted resume. that costs $XX per spending, and to we capital are between million, XXXX of $X.XX landfill. last produce capital EPS regard adjusted to between to between certain and also EPS expected adjusted $X.XX $XXX $XXX million return With million. in return normalized capital revenue that cash $XX diluted between in, expect Our and million initiatives and and elevated on share spending levels EBITDA activities business levels in to between of year associated with million adjusted and capital our total are $X.XX we XXXX to and assumes share, per normal expecting our $XX to flow $XX million, $XXX more million should free year cash between $X.XX All million, to XXXX preservation growth full $XXX spending performance

into In to investing addition, continuing investing new projects. new by in up technologies, we are grow $XX company ongoing our million businesses organically to and and in and

guidance up reflects that in adjusted here revenue we in X% today, this to of and in increases expectations we sit X% EBITDA. growth with up will XXXX our to As to return

several walk our bridge slides, getting next Eric to actual have through XXXX. going EBITDA results the you I'm For adjusted from to XXXX you

Eric Gerratt

Thanks, favorable EBITDA see XXXX adjusted our NRC a the range. our one grant adjustments our results can have through by just over government the acquisitions repeat The you organization. for for in back included Jeff. to time to of in operationally are cash EBITDA EBITDA $X Included XXXX On adjustments a we bridge Slide that XXXX. favorable in related COVID million of Canadian will favorable of a not on results number made an XX, midpoint mid expected the XXs, earnouts medical legacy benefits XXXX guidance insurance ups accounted adjusted several to XXXX. These favorable we true related for settlement actual to and adjusted grow in that dating XXXX,

XXXX of where improving industrial expect As bridge, segment results we growth improving this shown starts our economy. on in in back on waste an our with solutions growth the

XXXX in starting to XXXX business first from expect recovery pandemic in trends. of as the much the with base of X% to expected pre X% strong the balance XXXX, We the this quarter to included second ranging occur growth through year, return quarter to of

pipeline our business expect activity. trends We heathy of [event] see to positive continue year and in

Given to to strong slightly XXXX. period we flat and in in currently completing, business comparative are several up expecting with projects event the XXXX larger be our

to in segment also XXXX NRC integration from in We activity, improved expect services, through increased won industrial benefits service our see in contracts implementation investment and total additional further field business activities. solid services our SQG management lines and a combination growth of and waste of

segment we and most waste oil recovery levels, of unit activity recovery from Our energy limited growth half accelerating the in moderate commencing the with terms. XXXX. in dollar positive is prices the the in XXXX increased in and expecting back Despite of are business contributions expecting

segment primarily of segments to with costs a shifts increasing by related integration result corporate is corporate of presentation. To corporate activities. result Our as these shift from segment regional overhead cost as appendix to summarized modeling, in today's your and operating the a segment a segment support of the we've regionalization of assist the

as In normal travel levels that level not plans activity business to expecting addition, a to return we more in incentive are did in XXXX. such occur compensation, cost higher compensation and of

levels factoring XXXX back With As up to Jeff adjusted the to EBITDA it Jeff. in EBITDA favorable out I'll of to that, XX% up we XXXX growth growth expect mentioned, benefits. turn X% and when over XXXX

Jeff Feeler

and of declining the I us nothing than year Ecology compounded we on challenging and second team and XXXX solid XXXX early towards of steady thrive continuing these much XXXX, short proud times. COVID year. am XXXX year very us their vaccine a cases of persevere a better of in gives rollout was momentum ability into entire the US with The to the the half XXXX. during carrying end especially and optimism of in trends the that so saw with in

to and mirror. future up the ahead to of recover of to economy will to positioned are continue sustainable for us this call on our to both that, stockholders. operator, This shape build And members result excellent hard US strategically continues past pandemic financially a Ecology’s and with work As to year, in for open the the move or as questions the continue capitalize allow we rearview industrial opportunities and are and we upon can comments. you the team

Operator

begin now first Hoffman Michael will question And session from our We question-and-answer of Instructions]. Stifel. [Operator come the will

MichaelHoffman

transparent, love so I I here, way, appreciate a presentation, it’s the this nice that. shift by been And very

help Is are decontamination of not you're the well, of you you Within us all it? can $XX of in so some And timers that million -- not right? year the guidance, you early, only but framed your but as the overcoming assumption into that one also EBITDA work. overcoming rolls

JeffFeeler

Yes, I'll markets address Steve there. let those

SteveWelling

very fourth as we're and EBITDA do that ended January Michael, the continued COVID on $X is what as recovering year. strong, ER we creates also just is maybe quarter to but February. to in with $XX confident ER throughout pace does the offset Hazmat Trend and orders year $X going million that But down, an to And this headwind, into beginning business, million. regular million now down, much of very, it of are still that we're somewhat very the work. we're business

gap gives idea some So you our would be. where

MichaelHoffman

things hit we And revenues do then pandemic think relative dislocated that? in to that there How the the and if in I Jeff, is you angle, in an to framed assumption about the I 'XX. reopening a got guidance, are your fully think of that numbers reopened

JeffFeeler

of and of we comparables select right mean, through go XXXX we going towards conditions the into just to know midyear we'll kind first more our easier more population lot reopening don't probably kind really the But way be defined. looks as is we how some have of going get of the half what have vaccines demographics. lot challenging reopening expecting second perspective, of or assumption. we're facing now through a at it's we're is than the the seeing are we're year like looking there what that we're really quarter, and and balance a that When growth I From a availability so for to year.

then, back we'll year. normalized activities the much And by see more the on of hopefully, so half

MichaelHoffman

the base base assumed understand. back you have trying That's or of put you've I'm your in and then off lower a And number what the just recovery? to recovery of rate in business the guidance, lost

JeffFeeler

lower number right see now, then growth to a off continue going be improvement. It's to more but

to fourth pre get to we be positive seeing we're maybe going the trends as more levels. think some pandemic towards I

MichaelHoffman

flow spending. then XX% to this being that's percent And you're approaching us this What's I year, the on done? catch and investment year lastly, you a sort think of revenue beyond give free capital Because of cash right the that's number. up don't about big percent capital the Can the the think and in probably way spending [rather]? landfill normalized sustained

JeffFeeler

Well, opportunities when there, in it and to growth growth we're investments that our on vary have. down you include that’s we depending investments because probably up going those

some to So $XX we've in, somewhere landfill some look from that year. growth, you percentage this more if years, that at in up XXXX, seeing there as normal of And we're year. in maintenance but high to which couple a without us programs. X% a When bit talked in, our it, say spend there it's pent activities for what capital maintenance would of this put that's preservation I $XX year growth about the that high is I of in mean, of is previously, not little you're is add to that's a a capital that, X% of we X%. of much. initiatives probably kind landfill. of million, million pushing on of you programs, our continue going up

MichaelHoffman

going Can business be? But it be to say do right EBITDA? can think from it the then it where midpoint, be It’s you XXs at now? ratio, be target, of versus is where conversion should a this what but low And it's of doing flow XX%, XX% EBITDA. free upper a XXs in cash XXXX say

EricGerratt

deck for less that. this payments that If But NRC, were with cash to feel pretty some we ended good XX% consideration pre a low XXXX, just free last were at in this if and it's look you cash like over back we're the we about and year. and go And XXs. We where things in that based at the operating definition, XXXX flows we definition, contingent XX% year. on you where define there's in about CapEx year, Based we flow, calculation backs on add it's some how there.

wild us, a like quarter on is think term it that about I where I Working think that on always to like more XX%, swing bit low I'd range longer XXs XX% but range a the But basis. a a basis, consistent see we'd basis. is is that can consistent on that capital quarter. to to be where card

MichaelHoffman

You translate then And the that questions guess then target used exiting would us What's I calculate the a based how one look year? calculation? is into for X.X. to about EBITDA your gave of of be, leverage is that I sort of this And what's cheeky like? the do leverage what the on you what the that? bank thoughts

EricGerratt

is in we credit there And some items the additional the covenant agreement. the under calculation do for

the relate lot things of synergies calculation. and a Some to that. out start those good is The costs and of to news of this those onetime like fade away year and come

-- of expect be off based able being guidance of we So closer financials. get it our said, expect we you'll be to end will of get much, year, the even the to come range, more then the see much we of on by midpoint lower. down the the as end quickly. that into straight start then obviously, the leverage of we'd be under X times year. be at range, at pretty That end you of kind higher really And the to XXXX, this And

MichaelHoffman

decon growth the surprise last Otherwise, question in and the a then incremental fairly me has underlying And view question about there's replacement do so and project timing and the of reopening. that's any upside timing to is comment and scope both of the the conservative business, semi model for statement. with the a

EricGerratt

network. volumes is areas what waste upside that is I the to or coming watch into translate the industrial how So reopening, big the think potential through does the

then -- big is We and we're at like because is in It's to look about expect couple And you continuing the the the seeing coming through business of almost have there. and we're wildcard million there, on the quarter energy to much if trends be. much fourth pretty dollar it's to recovery flat assuming really on what we very improvement. waste the event see those going been did is positive network ISM side, not

So we're know translate the just don't going historically it's unknowns. the We real that QX our positive I'd end is some also trends to And the that being add day, at and cautious this. And where quarter. because market we're seeing on lowest to. -- But there. seasonally of you know of

quarter. more XXXX a actually be However, the for was of and pre will of strong pandemic that -- comparing and XXXX, to prominent quarter even we're that QX pretty was first since it

year. we to expect in QX be And second and pick XXXX. the So start QX we then to quarters up significantly last down from steam third pretty for

MichaelHoffman

of introduced care as having give first of the us we at a Are you framing midpoint of that to way of That's it would the the least proportioning, number think then XQ then is rest teens the kind a the rest XXX EBITDA is the first upper at the in that, and in to of the So percentage quarter, it? half. the pops in sort of year?

EricGerratt

think terms down XX% that I fair. expect I you I QX XXXX if of be in compared the at 'XX XX% we would to Yes, from will that's look 'XX, to EBITDA QX range. mean probably in

Operator

Tyson from [Operator Instructions] question KC of And comes Capital. next Bauer our

TysonBauer

Michael was a Kind little bit of what talking touching on about.

as picks Give How on as going entire of structure that you've we're levels, year structure, you gone once that expenses. business in profile up, the the an magnitude margin volumes do a normalized profitability volume forward? cost that You've focused incremental you go up? cost better see the picks that get us better much view side business degree you're that the on contribution through of to we now we would to the that improved think

EricGerratt

speak XX% think and if more about XXXX at EBITDA Tyson, in margin, of terms margin. ended We I'll the total. in at year look terms of I you

year, be again, possibly then EBITDA XX% the As which, margin, next terms that throughout at At recovery you we'll be in going year full in comparison to and of low we're still in won't look that teens, and XXXX. be will level, a it QX range. build of rough so year, high

into time -- that approaching really to XXs of margin start back into as in we've continue of to for I term. get to on, long buildout path, consolidated long the and terms see we a as would the EBITDA seen mid the margins going think we and in targeted XXs which over traction low we I continue beyond, those I the a a down lot pandemic, least we've think XXXX success of at up hopefully integration

TysonBauer

range So basis a points? approximately of shift the XXX, XXX

EricGerratt

Once yet. into and Not we get beyond, yes. XXXX

TysonBauer

XX Well, what what that's range once able on the really those view produce normalized ecology at as you to that's us being you if we -- low this looked get you've company we stuff going behind and done, is operations. more mid in of we to

EricGerratt

that's correct. Yes,

TysonBauer

as some 'XX you're get really to second these drivers the factors. come And to of handcuffs of anticipating more economic and more into you opposed have then we half the ancillary or less off of

good out 'XX half be you into the rate would the you'll of think you run So be of indication a second years? what fairly of go as

EricGerratt

QX, some but indicative strong I really comp as of and that's think function going more much But to at improvement we'll you be to of in of as beyond, are be definitely see especially performance. beyond future fair, as that's kind QX a anything. low going Yes, think look really I and QX

TysonBauer

ESG reporting in Do you're would what hazardous have been things, company out would recycling, what companies? you a know seem be the finding cleaning favorably. It kind is that and more have involved the marketplace? But up, those viewed with waste by receiving of score or you

JeffFeeler

Tyson, that. not Actually, we're finding

that think be case. would You would the

ranked And that on of top excellent. good out So are at is not we're XX for X that, out there, that with or of at is familiar the is, environmental. I the ISS have head score X my those

that those and are compared waste gases, challenged with are gases, that and solid in facilities. there's on inorganic we lot the is So being greenhouse emits of we're by we a measurement areas

So we're the I initiatives gathering out for dramatically that that think we range. there published anything now, data into published. our and to have right part get of And that XXXX acceptable is score improve an will and that don't

TysonBauer

the bigger the waste you guys, necessarily you're of waste categorized management, not summarize, to what solid So unfairly your and with is? business think being indicative that's

EricGerratt

And that past. the we rating there's to assessment. the need it's is a for don't have data it that looking the really in not Yes, have agencies fair fact a because that are

data out putting matter there. a So our together getting us of it and it's

harming recipients how recycled, introduce byproducts and the why we far on that. is As it's I do. doing in place have is they that industrial our treated, what what properly health technologies what is to and as we're not the in customers do make that you the right. the that capabilities sure our think we human and ESG and from to making are scores, they we're is the on environment. question sure mean And DNA are And it's I managed our and

over pulled together. we will this once correct itself so time get And everything

JeffFeeler

looking of company. ourselves I some our like a to to have And solution, think going of I to constantly some recycling at of sustainability more to reuse. the beneficial earlier that. and part hazardous view and provide that around and really about us go lot do the that. ourselves But in because mentioned, point, of about view We're and see Tyson, continue that well. there's waste of really all misconceptions, sustainable and kind the do we'll again, key are do more information our the spent time -- story, and as and and investors part as understand and we opportunities to a more you of of we continue as treatment about as that you you solution talk as we We Also assumptions and things a that solution learning of well this more ESG hear if think, do more and, many will, you're the disposal things into talk when

TysonBauer

great up you whether being far into an such. markets and metals brought a that are Is highlighted companies you whether seen it's where community it's word investment with been of, focus do missed investment it next glad and great Ecology from or the that that question. and others leads benefits of that a that my multiple? and that an draw has that do recycling, of community, doesn't petroleum, recycling, US as I'm kind the doing focus amount given metals something accumulator the the as just that have on especially We've that, of

SimonBell

I comes already mean launching facility in is doing We from we're are what's recycling I our on which in retail our business mean, recently, business. aerosols, cycling the heavy XXX% largest thermal oil very the recycling really that side. lot of that on stream and a desorption recovers doing our expanding like. process. airport fronts. technology We do oil more that We're recycles, it landfills recycling. really We and that in distillation. would have thermal from Texas Previously, of that both been focusing thermal the disposed catalysts hit multiple on the with

ways the the so really drums on and to good really really the is Our recover see drums where and plants content are material other really approximately waste great year have of water over about sustainability and the of investments these these are good recycling high probably those And treatment we we're We're on both businesses. And process and diverting a of with -- heavy growth we on reuse talk that. metals in we metal as we the lot recovering out a X making the returns. kind finding focusing million as side. things we're businesses works

good the things we going something a So I see think that's of on. that to an we happening markets, definitely front. in to told Whether fully focused be we're story evolving really thing, lot

TysonBauer

you Simon, since here. And answered

of seen year, On couple of you the and not and these Would in cleanup business? this event political business change EPA half the going what next 'XX previous the activity focus get event being greater in we've into back into as administrations years anticipate 'XX, we under flat and of this through major regime. given the for

SimonBell

administration, and often out It's certainly, cleanups. that The expanding, world, sea we're strong the see activity current enforcement disposal of all the permitted PFAS with proven that, we'd you something a about can you XXXX But timing side be subtitle the which EPA was hard translates at we talk PFAS. of we think focused be to more predict. the assets sometimes lot seeing when where will probably the headwinds you facilities, of think always where the into technologies, We most can with some also about. that some will, I look they be more under putting talk have well, tasked would NDAA, have. And on deep of certainly, -- guidance on if

kind EPA we trying that customers certainly more and to start in side of to is think the of our advance getting proactive do. So on expect what

there, though to time as we the sometimes going takes be that some So positive. short it sometimes answer see can certainly, think to I predict it is, yes, some difficult you're headwinds to a But regulations. see and change

Operator

turn session. closing question-and-answer the like to our concludes for Jeff to any over CEO, This back would remarks. I conference Feeler,

Jeff Feeler

first to forward you want call I joining right. the you. look thank those quarter at today, results. All Thank with coming and for to conferences updating everybody, or the

Operator

attending conference and today's The disconnect. concluded. has now now for Thank may you you presentation,

Eric Gerratt	Chief Financial Officer
Jeff Feeler	Chairman, President and Chief Executive Officer
Simon Bell	Executive Vice President and Chief Operating Officer
Steve Welling	Executive Vice President of Sales and Marketing
Michael Hoffman	Stifel
Tyson Bauer	KC Capital

US Ecology (ECOL) 26 Feb 212020 Q4 Earnings call transcript