ECOL - Earnings call transcript Q1 2021

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Operator

Good morning and welcome to the US Ecology First Quarter 2021 Earnings Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions [Operator Instructions] I would now like to turn the conference over to Eric Gerratt, Chief Financial Officer. Please go ahead.

Eric Gerratt

Good morning, and thank you for joining us today.

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

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

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

reported release. I'd adjusted these earnings be those and EBITDA, turn of share, call that, share metrics share cash varying access calculations. We earnings not diluted at are earnings earnings These and of adjusted diluted by adjusted and can yesterday's cash A to presentation per definition, evaluating to presentation earnings useful in per Throughout free over determined www.usecology.com. in non-GAAP on free Exhibit with found to our flow release statements therefore website calculation, and susceptible EBITDA, For earnings you call believe A Accounting we accordance today's refer Principles phone, Jeff. per today, our and are to financial are share, adjusted and adjusted results.With per Accepted reconciliation cash our diluted the our like can cash to in flow. diluted adjusted listening the metrics Generally

Jeff Feeler

call joining Eric morning today. to and good everyone you, the Thank

to the on events despite personally disruptions constraints. some my operational other prepared US all dive of within I quarter, safety weather remarks colleagues from global thank dedication to excellence, I'd Before pandemic, and into health, their and like ongoing for the the Ecology

our challenges and navigated our are returning proving extreme the levels. These improving trends was Overall, our that those industrial-based our portion delaying year. just on positive saw operations our of quarter year-over-year business substantial in continued supply from slightly has them the conditions quarter to million weather were efforts to that the for last half for customers achieved pandemic events XXXX first were many business Slide to quarter when first challenges $XXX.X of and a we results attention webcast revenue expectations. Total quarter was across business. to in chain and disruptions are impacting solid of a presentation, For Texas-based customers down as X% following continued company overall the pre-pandemic pre-COVID headwinds new first ahead of of first The into please momentum the your our X. XXXX, direct of results team, broad-based that second our XXXX strong such be and our with compared the and

X%. Services growth a Field with was revenue spot Our segment organic bright of

segment, In down X% and last quarter revenue quarter improved fourth year-over-year, Waste as pandemic the quarter. just just was $XX.X conditions. sequential over XX% during business from Solutions the business year base the We response million and under the of continued beginning to X,XXX emergency our revenue COVID-XX This the work. since approximately of completed a Our was was the decontamination strongest was benefit began. strong projects on economic backs generated improvement

we year-over-year We track experienced on business with than with the fourth and our compared Looking to year in more month, X% both recording the was first target Dissecting to X% XXXX, normalized X% less XXXX.We of reopenings results the quarter sequential continue same and market the in expectations X% year full March summer sequentially conditions putting quarter increased strongest us base last XXXX growth fourth the developments much and year-over-year construction of the achieve compared pipeline see the sequentially down in of down of in and of season. X% second will business X% was anticipate period Business business as it revenue the month activities, quarter, at from in our our prior to sequential the base year. business, build up positive approach base growth for March quarter, XXXX. Event growth. record by on the was to quarter the the was to our for bidding we decline

generating quarter, Though quarter business and of to sequential now energy business were increased Our count related were XXXX we third encouraged with waste improvement, EBITDA by the has are are to year, the its activity. from XX% us return quarter trends allowed in last rig EBITDA a contribution This and reported quarter compared million up first during disposal we revenues the to and of $X.X they volumes XX% seeing. of on approximately EBITDA. improved dispose down the fourth positive treatment

last of down company better the and than million, are we which nowhere to had year, positive $XX.X we ahead was pre-pandemic EBITDA Overall, are internal XX% adjusted plan. are see from the developments expected levels, of prior reported welcome year. our While side we near total

generate We to million flow cash continue of $XX.X quarter. free strong during the

as in appointment brings on want update Board. the which over call front, This with governance us made as steps addition ongoing ESG refreshment taking and governance our of we we had regard has I demonstrate programs. latest only expertise announced we also of working to initiatives our sustainability an leadership, XXXX diversity February, in not strengthened along well. to both within race, provide and commitment strategy, in gender are to a the to to others in These to Hogans on Before diversity, XXXX.On are company. ongoing I and Board extensive board some our but on experience M&A, employee our our our with improve turn focus Mack experienced and base and Eric, board the Mack

completed our On have front, data and on vehicle fleet emissions. environmental and we gathering substantially gas emissions the its impact greenhouse

we data peers. business. represents working to fleet solid despite planning fleet to field with group capital vehicle develop below expanding the baseline our to growing advisors when the services significant our landfills our to our have levels, in and given baseline With particularly targets emission landfills impact reduction hand, of our our are Our support most minimal gas compared that emissions, greenhouse waste our environment,

are aerosol customers, not also to distillation services We container beneficial for and advancing good and technologies also which like the business. we the solution systems, our marketplace good recovery we sustainable and in are are recycling environment, for reuse recycling, investing but responsive only believe demands waste offer to including

or top well that in on our prospects promote identify, needlessly and adversely This value possible programs and attract Finally, industry-leading that proposition affect offer limits efforts this talent is for just meet to evident human effectiveness a to market and of members pool individual to that wherever give creatively culture. the programs. social front, equity diminishes core overall capital have means our is team employees and protect in and like us therefore as retain, a a of know practices. examples, to sophisticated ours look creation of To as our Anything leading and as wide our essential do we the of employment our diversity, talent. widely, inclusion possible. our to and our can needs we sector variety and our we inclusively The their the as it's competitive value strength sustainability career a starting couple are point our

from so inclusive regular We our And have respect our our all loops, increase size. feedback can of and created and retention of continue we ways fresh and people, working we evolve that including diversity, training, insights programs company. to mentoring, our robust promotion to throughout gain

on over respect, special created, the We With Eric. we of and turn we is everything to improvement have protecting environment continuous built do. that, I'll inclusion, are the it in proud that culture

Eric Gerratt

Services quarter Field XXXX in Thank energy lower in on development of Solutions quarter quarter, the increases quarter down X% to primarily asset loss business was a development emergency a first quarter first Treatment was the our cash XXXX X% Waste of to quarter of a revenue quantity was both diluted of gross to expenses. $XX.X period service quarter segment million with the and a consolidated million in share $XXX.X million was This first of in This Adjusted first response, included XXX Waste compared $XX.X quarter the in of volumes Disposal This the $XXX.X earnings for first first diluted segment impact for The and XXXX. in share to included XXXX base decline XX% in was $XXX.X business $X.XX management by was in of Total first year. general compared was the million million by in XXXX. million. our XXXX. in and of of in amortization, quarter first the first decrease the our in approximately The per quarter revenue basis the and business first quarter total $X.XX X% small $X.X of X% XXXX, the Revenue quarter and Disposal of you, last to spending $X.XX of year. Revenue in intangible was compared of in first the $X.X of compared in due administrative X. and segments. margin from waste quarter decline per of $XXX points a in quarter lines. first driven share the and million or to diluted XXXX. in expenses. $X.XX Slide per million and Selling, XXXX, generation same quarter, the event XXXX $XXX.X which waste our the share for $XX.X to million EBITDA same of the per was compared and last earnings solutions contracted in XX% transportation The to X% results Jeff. the Starting the revenue decline decrease first business first in compared to delivered first integration and was XXXX Adding revenue. integration increase Adjusted the compared up driven million Treatment in year. of down last quarter XXXX decrease adjusted result XX% the waste SG&A back

cash adjusted the results year, $XX.X free cash Despite the the liquidity. exited on strong sheet We the of X. $XX.X operating quarter was XX, we X credit $XXX. with million Slide and our capacity end over XXXX. strong at to an borrowings prior to quarter XXXX, were Net the first our lower able revolving XXXX. of borrowings quarter. the $XXX of and to solid at of available were of which We net balance in over at first XX, March December flow Turning had generate improvement million of million million line a compared

covenant the leverage level under well times was bank ratio Our X.X at quarter. covenant X.X XXXX, XX, for the times March

We to first Jeff. that, at high be leverage turn XXXX. times back call of of quarter in expect of the terms will point With the the to below and end the be I'll X that XXXX

Jeff Feeler

Eric. you, Thank

business activities, our in most ongoing positive if our we EBITDA growth with adjusted encouraged share improving across revenue, success With XXXX. adjusted a XXXX improvement of are this in combined detail. earnings and lines. trends and diluted our with trends into business integration by We This our forecast includes our are the not we reaffirmed activities the have NRC more in all seeing for industrial integration Diving outlook. per quarter-over-quarter

synergies we make revenue are year. gained the in here second momentum really continue and We to progress terrific our seeing

Slide ahead year reaffirming Ecology the and this today. of EBITDA see breakdown million We a entire XXXX our innovate guidance target we drive continue XX I a that our released target. am synergies these detailed XXXX, path during US that one the $XX meet was and to original value of of of of February year has ability to of so by proud our are and in times. three-year to of step-up, their end team

the and have and capitalize to economies assets services the industrial the recover, right in As places thrive. we right

future We trusted partner with and we a to are for customers call sustainable up our open that, for continue a be questions. the to together And all. building we'll

Operator

The Instructions] Hoffman comes [Operator Michael go question Please with first ahead. from Stifel.

Michael Hoffman

think you're the chase plan, up ahead you're I you a their more this How not reflect guidance though? I you appreciate Is companies what the given trying the guidance that on to don't the you and of got, are trend upside to supposed year inside have reaffirming be would little prematurely. than guidance opened momentum the bit to seeing?

Eric Gerratt

stop And had quarter were one strong events quarter mean we And out fact some into intended are after the the April you is given year there's month they what it with that behind we're say the we've would mean that today I pandemic, there. our major also some first seen ongoing activities look bit continued put But disrupted results, another us looking, the context pattern. a also with green start a to and on shoots into results everything. the I of that but weather I maybe is it's we of better. way it, is, lot little here.

I'm first to go. our a going our February in, reaffirmed range to But in I back strategy that just strong And does nine us up and think And really have our what we're conviction still it And yesterday. guidance in released proud plan. of in there we continue we execute XXXX. months it quarter. we in to delivered the for all set is So

Michael Hoffman

does think up still conversations stay in XQ the ratable done the March little we about, is about in the all is since cadence, March speed ratable essentially a it to was about line? have year. it particular cadence, anything what know sort we Does steady, think what XQ bit exited or is you about there when it as as of And picked these pretty how this when originally happened April, far almost through of kind top February, a and

Jeff Feeler

seasonality line, drive in and about play Thinking the normal will the top of cadence will it.

talking expecting we we're and patterns. yeah, strongest into And month, had. to say, than better get look that than So March from April, the we're -- quarter first would about QX, to seeing by the sequentially they're at it cadence QX be better you And QX w was I QX. and when similar March month sequentially

track and that So And we're that's all there plan. of direction. a would on is pause that lot nothing our on of to in say I There pointing us the deliver in range right execute is their. given that

Michael Hoffman

disruptions for And doesn't se looks is that, going in then all And some reopening for are big as it's I've that's that base. year. and heard any the of but improvement lift that first recovery the of mentioned per the guidance the not get economy slowing calendar the as this this, accounted time of an the well you a more broadly? that's you in to overall weren't on of in customer That some looking supply relief industrial like

Jeff Feeler

But information, on it is of kind alleviate. that our we pandemic, that the closures seen in that the saw think supply Michael referred I in high what a the customers. and seeing. you of choppiness the impacting about when infection So of factored we're that in lot think in we to QX, all that we've And it of with we rates saw chain

back read there to If claim, some that, are and staying what you customers industrial changes things but they customers one are demand regain get challenged levels because of I'll our labor the to upon. meet things through are And and their and ISM pre-COVID on commentary go like supply can't with and disruption, call they also shortages. the growth those detailed

our are And it But so, base in. those all are it things ongoing seeing creates choppiness. we're that factored customer and in

Michael Hoffman

you had the numbers weather I'm behind a curious weather or loss week out of But commentary. if a got Texas for you not then the any from And power shutdown last in a issue, power snot it hadn't more, for difference and of been? me. what hiding just are might two beat have

Jeff Feeler

that little But perspective, tried in a to especially bit the and is never nice will we down down. our a for region. part, there. reality days quantify hard arm lines think the on freeze we'll we conditions because pretty bit from two and We was the even in definitely operational setback XX of Michael. a because the damage impacted uptick shut to March February little whole to regain, probably fairly were haven't did But services in attempt our at of of of others we business a see business had down equation, rapidly, which that that is enough the We able of robust our weather. recover. most look in that From customers business to probably area, some when that pickup were still XX weeks, it's there that our But are some reopened be

Michael Hoffman

So had with all you that. better quarter good had than a to that, closing you your and the plan loop on of deal

it, without it if have So better? that much incrementally would been

Jeff Feeler

Absolutely.

Michael Hoffman

limits that Debt debt you of repayment, you these to structural terms of on generate that any numbers agreements there allow whole make are the cash? as the like down any anything keep walking can

Eric Gerratt

we'd No. pay Eric. down We're the as facility quickly Michael, like. as able to this is

So pay but on limitations and there now term limitations on for the the the are loan as that's, no first can it's only revolver, some want. that, on down we have quickly but as The we limitations we B. on obviously either open there wide year, even were

Michael Hoffman

better holding down or decontamination the last in than saying opened expect thought. we one, XQ It trend one year it down. work is Is you was up? your And to it actually trending

Jeff Feeler

down. actually No, it's trending

humanity seeing of what it domestically. that ahead down at getting part the then, standpoint is And there. So we of trending good here from loads are a since which this follows in surge and me least the things the case pandemic saw side February, ourselves we out and that is really are it's January been first and for we of anticipated

line it will imagine from load, hopefully benefit case Thanks, a And otherwise of so, resurgence business if see and by that activities. we will Michael. be replaced would I risen they industrial-based

Operator

Please next comes Tyler from The question ahead. with Raymond James. Brown go

Tyler Brown

be So clear, in the rest much of there's the year? work additional really not de-con just to for guide the

Eric Gerratt

I No, mean, no.

Tyler Brown

any free talk Is base I us color reopenings Okay, kind discern make in how kind did of trends, not some way up it helpful. you and really, any just was mentions is let in on exactly a know about did you base the But you or can difficult what don't of there much March I about And to that's then, mean, all. March. monthly March? know lot but

Jeff Feeler

up year-over-year XX%. perspective, directionally, was it From about a

reality you March to shut we back if probably, through. or is in year, the to Now, second last were go starting week of the we halfway down

So that. probably, on March you last the was at little year bit look a when cycle monthly lower

So in you that for our to the deliver we're us down X% are able with elevated. think X% look be confident still we I growth that the between being business at first X% year, to that's to for that's When base full going and on quarter.

trending But guidance be we is the said It better equal we're everything what when out overall, very on could bit there. things. a than it. So in you we have little confident side we for that everything of way still expected out, what

Tyler Brown

And base so, QX double implicitly the is like range on digit plus side?

Jeff Feeler

would from a in QX healthy a I perspective. very rebound expect growth

Tyler Brown

get, if on of put $X just, something like quarter? to us EBITDA And sequentially million $XX sequentially. you kind million again, But to we of QX talking QX just funny because is I it help you a our should a improve just to say help I finer don't us with then, really models. just mean, are point know can

Eric Gerratt

is think Tyler. I that's, Eric, this

probably that's reasonable think range. I a

just million. we quarter EBITDA If you at last $XX our second of year, look under did

I laid quite to see reasonable. that a And better that be than bit out is and can expect so, probably we would us

Tyler Brown

then, of you're which so your you Okay, investing Jeff, bit about about kind is how people and in that's little And great. there, really focus human your capital talked a and helpful.

you First roughly? do off, I'm curious how actually many drivers employ

Jeff Feeler

right around XXX. XXX We're to

Tyler Brown

cover real, to so, in And we environment? is particular business. that, a it's you group? truckers. there on are It's home of I how retain on that mean different business. a curious, there. I the more go seeing night hiring hard recruit the I retaining obviously is substantive out group is like lot going current that But pressures mean, in and at a know

Jeffrey Feeler

our there. see that there's in but It's nailed We a challenges It's continue only a pressure, not many other to group. And it's it. industries demographic from not lot world, side of competing that of growing. the And in you

can we're you in to see yes, maybe on things of we're some continue that challenges doing. Simon, there. the So elaborate

Simon Bell

launching do is their this challenge the to get It kind CDLs, provide So doing community programs Simon. certainly really employees we can them. and as programs better encourage to what launching of schooling committees support Jeff to What of is says. for our kind we're creating driving pay retention. and We're to is a is that important what understand we're to

But some short we do As we haul. listening needs. the and you in their long ourselves can mentioned, have both really short-haul and haul think differentiate of to certainly we just drivers

as so, are while something we said, it's suspect. Jeff and we And fiercely I but, a for be will on, focused

Tyler Brown

guess jobs, in subset, of to you're some those little where So a nature, But at coming recruit? are that that more probably it's are I bit night a guys laying actually those haul I bit where tougher is little piece, down like long there said a home. LTL

Simon Bell

be and particular -- challenging? mean, those on guys retail the you I several that of days will then for program our Absolutely. a more road think in definitely

Tyler Brown

Interesting.

then the Okay. back synergies. And to NRC

wrong, the got going you off me I XX if because think here. correct may XX, top be last think of number of my I'm you I'm the Eric, is year. head So I

think there it like X. I But optimism is Jeff, to X were more like you there. something then, guiding to sounded

line? You're originally of curious, run of basically you had year, tracking of will be the thought right by hoping you what this So just that fully year, the ahead on synergies the I'm just we end are for are in kind rated. you

Eric Gerratt

definitely what thought and it's we're continuing. sales results. revenue really bit a driving opportunities things emerged organization a and there. a driven and little we're cohesive across side for on lot tracking of And of we're seeing really XXXX we to So momentum, talked the of seeing group that's ahead I we the And as those continue more opportunities the get of about

end believe we'll year, million that run-rate there we that the potentially to of and that upside is So the $XX next do year. by have achieved

Jeff Feeler

as acquisition reminder, of the run that out thought that at put of number was we one by the rate $XX Tyler, we'd end time XXXX. that the at a And million we the be

feel So we're of year we a like ahead schedule.

Tyler Brown

And my one. Maybe then the business. just energy last to back coming

you any So you talked could delta little about kind green this out to see expecting Jeff of positive I bit the what about moved. it in curious prices confidence building periphery. shoots that there starting a on think But have maybe any patch. oil I'm a see just for oil obviously, Are to that the be talked for if you're year? business to you're starting

Jeff Feeler

Eagle Tyler, definitely of we have shoots we The of counts and they've green planned. we increased and increased in the increased, on definitely that the what the at dramatically both but both is that plan levels business. still Ford were Well, though We've Permian And in and I we're they've pre-pandemic. there. where it's that the seen ahead rig of we're basins, reality sequentially were well. as check low there's anticipated mean, -- point, XX% we from sanity

go trends a still lot The to there. seeing green good. increasing. have that we get activity to We're ways level. of the So back shoots pre-pandemic is are all out a to But

Tyler Brown

it one roughly it real versus and Permian And or is? half can just is Ford way? mix Eagle me then, what half quickly, skewed remind Is you the

Jeff Feeler

half it's on there. and revenue about standpoint, half a From

to because them where to but and want strength assets pandemic our -- they in trending put are we now Eagle are just not the place Those in So they're that right in are have set be. we're the Ford, they we and before positive, two is still where Permian.

Tyler Brown

tremendous is Are you've kind the mean? developed that when come we first roughly CapEx the a And the capital good built-out on back business the footprint set of landfills the not of as you probably then side, so see on CapEx cells. is it, volumes of in there that amount do kind of

Simon Bell

is this Tyler, Simon.

are moving construction landfill planning We and certainly our this with forward year.

And So we're to the have certainly, and going of we're capacity make with whatever recovery for spending we're planning capital we're is. continuing for our sure we refurbishment some also And equipment. a accordingly. demand

Jeff Feeler

And in that to Simon a just The the little to the one that's clarify Eagle referring landfill was Ford built. the one that Tyler. is is that first

operating the so, next is been current it's years And and it's cell what that cell facility. four for just almost, at it's so

Tyler Brown

guys. All deal. right, the for time. so much Thanks Good

Jeff Feeler

All right. Thanks, Tyler.

Operator

Jeff with The Capital comes go from question Silber Markets. next BMO Please ahead.

Jeff Silber

Actually, just first from I about you hiring that wanted throughout else if workers there. inflation it's one truck companies skilled follow-up seeing, out about Tyler's it wage question, and good retention. tough lot talked other got the to know, to complaining Are anywhere is We company? drivers. and of we've a quality find of

Jeff Feeler

is condition I that are is competing everybody that the programs But against is, competing two my I free of those workers. opinion the and competing summer challenging think the timeframe. think creating think I that frontline will combination are will the to recruit we government other I there, there we're here of hopefully companies, subsidy but out up is a for talent. same personal against mean, the reality some not only is

Jeff Silber

And mentioned subsidies. that's you the Okay, helpful. government

to I about know help early. hurt know just wanted infrastructure business? there's So Is that you the it's might I I still ask there either some or think plan. there your anything proposals. in

Jeff Feeler

that? why you Steve, don't address

Steve Welling

before read we those tax cleanups. there's when up is usually, that do also will on types clean-up possibly to back fund What super fund cleaned potentially is for Sure. a down, we've Hi, add super improve. is There look is of you money proposal Steve corporations, means things improvements, infrastructure the here. you There provide far turned work. which first Welling so increase that to this get

be want piping. lead they information paints that at that the So come streams Also is like which some schools remove urban to lead in all waste areas, about from bridges, and there there improvement that. could seeing other

looks to it that be would us yet. much have benefit like It's would, a So sure. it for we detail don't just

Jeff Silber

some that's better alluded bit think in the of you I a nobody specific this does, to that stops reopening. little call And mentioned out to finally, actually are good earlier. any doing others? there Are areas to Sure of you terms and hear. but starts But than

Jeff Feeler

West and they're have ones reopening really have So the seen and that the Gulf. in Michigan the seeing saw what we're the And more. been they've the is we a a lot of start corridor stop some hotspot. operations been we are is When has positivity reopened starting and and are to

here And not same getting continues things Ontario the I struggle. that overall. in And to first quarter. they the back walk just a control. to do the don't then, Canada have -- They're here. or that anticipate vaccination that But of we think was that province so, challenge under Ontario. improve down they're And rates we And internationally,

the gaining traction they've they're some momentum though going been so, still stops. But underlying to seems and starts And through and even positive struggling there. business be

Jeff Silber

helpful. That's so Okay. really Thanks much.

Jeff Feeler

Thanks, Jeff.

Operator

Bauer comes ahead. from question next The Tyson go KC with Capital. Please

Tyson Bauer

or trying theme a have and whole the those to whether because able inflation in Ecology have through, effects, little in suffered environment you rising pricing on? US as of freight some of inflation treatment cost, of from and pricing and benefited others the coverage it. wage it'd other, universe pass some What of or those companies On be the to as, put treatment costs benefit absorb you that's stand may far pressure is or are are get a the

Jeff Feeler

we're I'll about on kind of year -- in the some Steve, talk been and we've the strategy seeing we what in doing Eric you where inflationary chime this why challenges. have don't pricing

Steve Welling

wasn't and impacted the geographies, certain we year in as tag customer price certain more we've across and has in prior it increasing some waste been did totally base board years, the price streams What this increase different. is on others. then as specific markets, where selective some So done

in So into base on been number to between XXth whether by case. in potentially, another of quarter. first we have XXth the we effect only. a we January we doing taken number price things increase for work, and February along. the and the pass Most looking, have increases But went of one bid we're of mid-year. also business Event But been able case we've things maybe possibilities

things when lot like do side, That disposal where have ability part, transportation, down But But we're contract. business. In of of select of surcharge. some up we adjust. on service in a waste a have on a fuel that's the there go the or terms our term charge longer We recovered. the not our do most have the we pricing, to -- lines, for majority generally, does separate

Eric Gerratt

is And probably of our one Tyson, everyone talked feeling of we're right there That we've the terms that is in based pretty a we're costs. our whether with the that just that's increases in the or pressure of most kind couple and there insurance. biggest Just one we about exception. of Steve labor, on it where, lot Insurance some have seeing work We industry a about years, have recapture, this frankly in not terms like where the to over of lot do not, of categories opportunities that year transportation. feel there. last increases significant contracts the talked

kind companies meaningful we're of and a there's it So continuing grown as And would not cost in as another a be still monitor. pressure it Ecology, to portion as that, we've but there the that's reagents that area. as to diversified at commodities, used well. say, US watch of significant is and the I that's some

Tyson Bauer

they targeted piggyback increases. price Well,

you have for that us as the do What that ability segments so. greater when only as of? business leverage certain you are to streams do seeing the waste advantage take can or as you you opportunities You far

Jeff Feeler

across board we able has X% we're to to able some already that more the it Well, in seeing Coast, solidification, some where not struggling do looked waste streams be did just like in we're what there I we've said beginning. And the in In that And at we're we're first to the our freeze. maybe the we to look Right customer and now, known Gulf. seemed was we're Gulf bit the at West and the had things was in X%. than the to all do West, mid-west, much select at in quarter, which opportunities. a base recovered, then, not particularly

case there's the So see review. the it's there case normal get we back maybe here. by to in looking trying a to things just to And future. how evolve we're if doing roads see opportunities But as

Tyson Bauer

it fall see act that is we category going they or as Do call you things that it considered previously other into some green the anticipate, been not may materials even have that don't thought forward?

Simon Bell

term, is this Simon. There long yes. Tyson, was

fast, I it's front. term. a in certainly terms the that point in regulations. But some things I can't will I process changing that's this I'll be But say but near certainly you slow the certainly, think to think generally specific aggressive there be administration a, fairly of would on expect to more

Tyson Bauer

question. Last

of that? larger still a we On are and that jobs X million looking at as more or the pipeline, - the of projects opposed have million lot maybe some to are the event discrete multi-year less the smaller XX

Jeff Feeler

We still of both. have a combination

have work years long-term we that multi-year prior project We quarter. the that that is kicking continuing be that And in done bit year, three have back kicking off then, are in weeks. that have off third in the another some year we will we was in a a this last new projects project multi-year next had

anything that, of in of I mix it's So would think -- really a all I the different is don't terms above.

Operator

The ahead. Instructions] with Rabover Capital. go from [Operator question Peter Please next Artko comes

Peter Rabover

Just a the beneficial in freeze one, how a the the small impact One quarter? you questions. couple a for guys or Texas was was that of or storms, negative much

JeffFeeler

it but it, would been quantify in have didn't negative quarter. we the Peter,

Peter Rabover

flow last mode. maybe in what suspended were conservation mean, in Just you be and a next back longer-term I I thinking thinking to free growing. through cash cash then, I And capital guys you positive of you're structure? year. are dividend and think fairly year know like And question. terms

Just appreciated. you for just or be so, your on so? capital have thinking, that allocation any, you comment capital out some warrants guys will can are what And there what's ideal anything structure, plans your

Eric Gerratt

come So really tuck-in capital they likely deployment doing capital we'll shareholders on paying XXXX. debt, organic returning is available down to at acquisitions in if our investment, focused capital looking any small plan and be then

Jeff Feeler

thank right, you. All

Operator

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

Jeff Feeler

to thank here in forward Well, quarter. and looking you today conferences your to interest for want I just updating you second in the future

Operator

has for today's Thank you presentation. conference attending concluded. The now

You may now disconnect.

US Ecology (ECOL) 30 Apr 212021 Q1 Earnings call transcript