Earnings call transcript Q3 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello all, and a warm welcome to the Third Quarter 2022 Stericycle's Earnings Conference Call. My name is Luisa and I'll be your operator today [Operator Instructions].

I now have the pleasure of handing over the call to Andrew Ellis, Vice President of Investor Relations and Enterprise Finance. Andrew, please go ahead.

Andrew Ellis

Good morning, and thank you for joining Stericycle's 2022 Third Quarter Earnings Call.

will Zelenka, Miller, and our Officer. today Officer; Chief Chief call Jan and Chief the be our Cindy Executive Information On Financial Officer discussion risks that The forward-looking uncertainties. involve includes today and statements such we or goal we as When expressions, words believes, anticipates, plan, similar statements. estimates, forward-looking making expects, are will, may, use

subject on uncertainties. nature future projections and of management about Forward-looking in not on expectations and statements are and historical current based and to are, therefore, events are prospective facts, risks but rather our

Our differ that in cause safe and Securities differ filings could detail our actual forward-looking our such the Commission. greater in Exchange in in discussed within to our described with results earnings risk those the from significantly and in press results statements. U.S. the could Factors statement are release harbor actual factors

any financial future obligations. past performance, future results investors Our a considered should or other and revise be than results of accordance trends. to to performance reliable with use regulatory in our indicator disclaim legal any forward-looking should obligation historical anticipate update statement not or and not We

call, the will On financial discuss measures. we non-GAAP

of which call specific slides replay presentation. today conference approximately XXXX. Stericycle's available a in at additional can earnings The For the hour available end reconciliation most the schedules the U.S. press Investor measures, for Relations today's website comments may website. from and X, prepared an please Stericycle's also the call, replay. the which December website. be in presentation, the of today's be to X, release, is consent To to replay X to Canada during a may of reference rebroadcast provided the no GAAP dial which Investor on on earnings code be U.S., at call, call webcast (XX)-XXX-XXX-XXXX the form is refer redistribution, recorded, be investors.stericycle.com. the Investor is found any the comparable and Relations outside November if information U.S., our written of Relations will at call Throughout Any Time-sense expressed XXXX correspond This call (XXX)XXX-XXXX Stericycle access until will XXXXXX. or available is in a and information being of A prohibited. the after enter we on in the occurring access of also Canada Stericycle or accurate replay retransmission time a without longer (XXX)XXX-XXXX replay the call, this

call the I'll turn over now Cindy. to

Cindy Miller

Thank welcome call. morning, you, and today's to Good Andrew.

our and of is fund, communities. employee-sponsored support the continue assist to members our Stericycle we impacted who Hurricanes I in facilities wake medical Before extreme hurricanes, staff up by proud we recognize to fund to have health our support used leading who to conditions. to that is safety team are begin, hospital and suffered and loss. help Fiona Ian employees safeguard have continued those in and support want our we the been had been the an SteriCares to our customers, who that affected, To all the to Stericycle have our customers working mobilized of

build cash free momentum our third flow, the our second per As to adjusted in shown in we share all results, revenue, continued as in improved. quarter, and quarter the earnings margin, on

we continued and another Turning organic surcharge North The to that XX.X% in Destruction and increasing pricing Destruction Secure and of quarter the increasing recycling growing North organic third revenue XX.X%, in drive America the in quarter million and initiatives services surcharge recovery second implemented In and X.X%. America, North quarter. the of with second incremental Information services to fee of quarter, fiscal fee in in our with and $X and benefits year. first compliance revenue Information recovery fee to regulated contributed expanded waste started Information approximately the this this we the was million We $X XX.X% for are increasing previously surcharge in growth million service revenue. quality enhanced generated Destruction, cost the delivered compliance X.X%. quarter deliver we Secure America from XX.X% the $XX growth, Secure the revenue and the this waste with The quarter. shared of results hospital revenue Combined increasing overall on positive customers track regulated

continue to to investing and our and believe there network. ourselves, value including as unlock is innovation. modernization We efficiency, in invest physical Turning operational infrastructure great to in we

including past two two the North and two UK. have the Over we America years, new facilities, in in autoclave greenfield four opened

and completed in including also upgrade processing. Sharp's and have We enhanced improvements projects, washers XX conveyance autoclaves, shredders,

important Northern has ended the miles cost in Stockton Let typically month-over-month, and facilities, transportation benefits. and long-haul which a sustainability per some plan. new me share XX, XXXX, our same by Over executing year, location than about By California more operational of we facility Western gains being and near facility is to for from last have for progress XX,XXX savings compared U.S. we time reduced XXXX. X average, our Stockton the our approximately fewer September made new productivity year. this are optimizing month after customers compared exception. to drives months driving of no period been we the see and With the for XX% On

the X% compared in operations a average per improvement XXXX. months nine first also quarter XX, Stockton's stops We to for of day approximately September achieved ended full have XXXX, in

quarter, production our moved now third North into code me and ERP for technical successfully the America the Let deployment. In to functionality our Waste turn Services Regulated we environment. Compliance

at launched we Waste Rico. milestone, Compliance Puerto October Regulated in this customers the end of completion a Service and of for pilot the Following

system early be this but days designed. as are appears regional working in to We the pilot,

fine-tune in Services, weeks, North Regulated coming anticipation will in we our Compliance broader learnings a Over ERP system and the the Waste rollout XXXX. America and gather of

functions. have which back-office we other new the includes using As secure platform procurement employees over a finance, destruction, reminder, X,XXX and ERP information already today,

over the to results. call turn now financial to our review Janet I'll

Jan Zelenka

quarter summarizing Thank you, start our third Cindy. I will results. by

revenues the $XXX.X on in year. quarter third in to third quarter million million X, last the were of $XXX.X As Slide noted compared

exchange unfavorable of an growth Information due the million. of increased divestitures foreign growth organic Destruction revenues Excluding $XX.X Secure the $XX.X $XX.X Compliance was revenue and million Regulated Of $XX.X net acquisition and million organic of organic of rates the dollar increase, this $X strengthening Services U.S. was million, Waste impact million, $XX of and to million. revenue

$XXX.X revenues the As Compliance Regulated quarter in noted were and million on Slide $XXX.X compared to Waste XXXX. X, third of Services million

quarter. mailback driven Excluding levers by the including Services Compliance pricing and and organic X.X%, fee, rates, Regulated America of underlying due foreign have year-over-year the revenues core acquisitions maritime increased our and mainly surcharges and revenues recovery our impact in X.X% the exchange cost offset volumes. third also service North business, partially including fuel waste COVID-XX-related Waste achieved lower by in lower divestitures we volume was increased to volume which organic growth

revenues and third decline. International organic declined in Services as due normalization Regulated waste X.X% expected continued quarter Compliance to to an Waste volume the COVID-XX-related of

Slide Destruction As third $XXX.X quarter delivered of compared Secure noted revenues to million $XXX.X million of Information on X, XXXX. in the

North X.X% we SOP XX.X% typical growth Destruction impact and including XXXX, paper Destruction quarter increased for both higher of challenges paper quarter driven revenue to due surcharges, million due Secure volume pricing experienced or this Information and start-up ERP XX.X% to increased fuel The actions. of foreign stops ERP, to which XX.X% third revenues mainly Secure America, approximately and price compared driven Excluding organic service the recycling of nonrecurring the due XX.X%, is recycled revenues pricing, X.X%. service when XX.X% third by and exchange stops. contributed our $XX.X contributed impacted other Information volume in normal deployed by Of organic growth, revenues pricing, rates, XXXX. revenues of XX% service comprised and to In the increased the

of million, environmental Of pricing about $X.X commodity due the in of half $XX mainly in surcharges XXXX incremental million FCPA price quarter SOP recorded Destruction including Information higher other Recycled a compared Income quarter to the reflecting was recycling prices. in the by to million. by of volume. operations than increased million the of settlement of $XX.X SOP as the and surcharges. business litigation third SOP XXXX. $X.X million commercial the divestiture resulting from or and of due recover discussed, rising third The million, typical the volume $XXX.X Secure third nonrecurring $XX.X the COVID-XX the to revenues lower pricing continued recovery XXXX increased revenue was XXXX. the compensation quarter third an of and quarter revenues fuel estimated was improvement paper operations in to driven This In more levers of and in and the from $XX.X and accrual contributed $XX.X expense flow-through challenges the pricing both third third $XX economic XXXX the was in XX% million annual half service surcharges, to XXXX XXXX, to quarter third in growth, as compared of approximately levers loss recycling in due ERP XXXX International, organic the of revenue principally and $XX.X previously incentive impact of of million losses increase of million, quarter million, quarter start-up from

debt chain onboarding supply collection mainly higher expense labor America vehicle These the higher retain higher approximately were information other costs, approximately chain as adjustments by million replacement, headcount of wage and North to and in inflationary mainly $X.X efforts due related attract offset other wage and of of adjustments talent including billing debt secure and mostly were labor supply and and headcount. continued were as energy wage The Noninflationary ERP $X.X driven higher by costs, from environment. current and costs costs the and million. higher expenses higher bad and rental, maintenance costs bad costs normalizing million, $XX.X lease inflationary utility partially deployment, destruction higher inflationary well to to higher adjustments

While fuel-related to loss was or $XX $XXX.X loss a been year. fuel and per $XXX.X GAAP related was environmental same third quarter operations Cash $X.XX offset share months to in diluted of the million. have The million the September million they mainly per ended XXXX, X existing period the from $XX.X XXXX. compared last from flow U.S. of $XX million of million, for surcharges. costs income through $X.XX net of to compared was our increased, higher operations or XX, difference earnings diluted in income net share have

a decline the quarters as flow year-over-year operations million Overall, from settlement from by Slide up of XX higher to timing basis quarter quarter points, XX.X% points, costs and as Secure supply August of compared of to income annual to XXX points, on operations of $X.X Adjusted of basis XXX incentive increase shown of with Destruction to basis of adjustments start-up $XX $XX.X the of and the of basis the million costs nonrecurring points North DSO XXX cash debt interest a points, payments offset due in second X. percentage higher a of expense percentage of compensation third chain third of payments were million higher quarter, The partially in million, Information XX.X% XXXX. and approximately as quarter an $XX from FCPA revenues of last higher vendor basis operating America following: due costs operations XXXX million that and as revenues in in the onboarding basis of equates was These expense mainly basis of points. ERP million, million revenue was by of of income challenges XXX bad XX expected payments lower year. XXXX deployment $XXX.X $XX.X driven flow-through ERP in $XX.X increased the higher the or $XX.X associated ongoing shift of the other XXXX. revenues $XX.X million typical XX Adjusted headcount XXX million and from expenditures was second the third IT wage basis points, in percentage of or approximately and points in higher third inflationary

to adjusted of per compared $X.XX the was diluted earnings share As noted third $X.XX Slide on quarter in XXXX. X,

of year-over-year were headcount from costs, These from flow-through, rates $X.XX The increase nonrecurring divestitures from challenges onboarding chain the of revenue $X.XX quarter other. higher from the acquisitions typical other exchange higher $X.XX adjustments from was offset $X.XX. and supply from $X.XX XXXX driven and inflationary third in by $X.XX and impact remaining from and the interest Excluding costs, and $X.XX by taxes, cash and wage ERP start-up Free and an $X.XX an million foreign higher the the operating compared was million $XX.X September to same XX, $XX.X million expenditures. months IT inflow Capital X payments. million compared of XXXX. expected for timing X with year were of ended $XXX.X 'XX September due ongoing same expenditures period of last the XXXX, to period cash change mainly flow to XX, of $XXX for the in for the months million $XX.X ended outflow partially the

As million, capital earlier. which year-over-year $XXX.X of noted payments the expenditures Slide mainly reflects as $XXX.X FCPA explained operations X, due million of of cash settlement lower of in and XXXX cash $XX for decline million to on million, paid was from $XX.X increased the

DSO, compared to the higher quarter as was X billing and quarter day prior the Our subsequent XX Secure revenue. of of to days second customer the was in third Destruction, DSO American timing in collections improved DSO days well compared quarter XXXX. a quarter as as Information of DSO reported, third third as the the this discussed in mainly quarter in North XX of XXXX, days driven of a by difference XX

XX, our and approximately credit As defined leverage third shown X.XXx, the our was on of debt quarter, end was net $X.X Slide debt billion. at agreement ratio the

Now noted on adjusted million we raising forward-looking million. of which guidance, items. flow from X%, to X% our range are following of turning Two, Slide to Three, $X.XX. up our organic X%. cash our are $X to XXXX revenue EPS range $XX for we maintaining range X% free maintaining we to growth $XXX is are to XX to One, the

approximately approximately cash capital free anticipate and dependent in items the As of in interest lower being million. lower vendor approximately to mentioned $XX reduce $XX expenditures approximately this in million last compared $XXX anticipate million maintaining to million of other million. approximately $XX increase of on $XX fourth quarter quarter are customer XXXX. we the sequentially and quarter, the which Of million will expect flow accrued the in million, payment to collections fourth $XX collections by the Four, we of timing this is In quarter million. $XXX flow third quarter of $XX adjusted we fourth expansion, of and $XXX of range cash payments excludes cash million, would litigation approximately in $X for to free other fourth cash quarter, we million expenditure on paid to capital improvement The forecasted payments. improvement timing our million, $XXX XXXX,

will to I back now turn the call Cindy.

Cindy Miller

matters. our protect expectations like what the quarter our having from came the cost as have their members, and business report taken trust ago, serve corporate one highlights environmental, quarter announce to I'd shared third A important for report. more always, Two progress pressures. of continued we latest conducting This line while the released advancing strategic be team And responsibility governance continued safely, the in like results on shareholders our found I'd we Stericycle sustainably website. overall our combat In last Janet. to update. report measures weeks summary, we in our our responsibly you, Investor Thank this social initiatives. our can and year's in social to customers, we for with thank communities and financial copy Relations inflationary proactive

Operator, please Q&A. open line for the

Operator

Our first of comes Instructions] Sean from [Operator Dodge today RBC question Capital telephone Markets.

Sean Dodge

in great Maybe continued Congratulations with surcharges. starting on quarter. the progress the the

in So a there those you quarter. previous said nice the was million $X the in $X from quarter. contribution in million Cindy, versus ramp

for doing in you're for guess of things So think that? you're more surcharges how anniversaries to something much I sounds and as contract start think we negotiations, still forward you like fourth and the how left about quarter. the kind the how XXXX? $XX inflationary renewal, pass to that still to If that about sort those million we juice is rolls the is challenging. It do what like implies potentially think and much implement a through have able the to contribution, I surcharge environment mitigate of left into waiting little that

Cindy Miller

we pretty And the would certainly play is think, of and really have transformation conditions. group because inflexible, question. I momentum we've of I'm commercial great that's been at our historically, extremely in different with is I being I I part think the terms more, that momentum had really And I revenue. bay we -- that about here. been happy a and think -- talked of in Sean, -- of all, held say, We've at first

and the nimbleness showed year customer the great team fees. the with with in flexibility we're customers. engagement bit and that our the These type the certainly aren't So surcharges of good or early are the discussions that surprised a base. These having

what inflation. we know no have into will and it idea that I talk recession to turn be happen be as forward, is if to mitigated if I will we move think no do have the with some what's it's think idea or folks I I going going about So muted.

what our think do for moving we So to relationship know in able to well least be at I with is what are that in order positioned do customers, it on know I where hopeful us, we adjustments see I taken some happen. goes. based where forward to the very has it doesn't doesn't that make We're Fed an beyond is. upward it tick can see that sure

So are. I we that's where think

Sean Dodge

for they're those in certainly, summer. here? difficult kind began the of Kind know of of about other chain, we how prices as still stabilizing? these that's have difficult seeing kind something around, little time ascertain. more you're is backdrop outlook bounced of supply the then show diesel signs you? parts inflation, are a on cost And pressures of staffing inflationary were structure, How to bit gotten wage been kind to But of rate now, your have Or they forward for going this than is lower if what but think I

Cindy Miller

the out first we XXXX decline -- necessarily it's the of very was of 'XX. stabilize end kind why one workforce of quarter of quarter is where right the we pleased It efforts our out call are what now. we pretty of helped seeing maintained. particular this we've think a have drastic staffing -- And reasons that into I because I'm are the coming didn't

there think pressures wages. are I So on

I a many with some pretty the think contracts lot and -- hefty in down else, seen industries. everyone like them I of I've getting turned different news many, increases read in

So of want say, sure that I efforts is an pleased folks if the I'm making Stericycle then come in stay. frontline not But and and very make everything our as folks eventually will operators, we I speak internally rosy. our that to support of with environment would join

this we with at where are. moment, pleased So we're

Operator

today Our Manthey David of next from Baird. comes question

David Manthey

as for in us understand off, thanks First X company. the providing the bridges, got I've helpful that's always, of letting progress questions. the

business, on dip SIB Where the for tons business. the of these does quarter system? rate on the in to then ability ERP run implementation. price the the of new paper, indication the tons you think right First will I better better because Last now? do intelligence, XXX,XXX your that in shake that, out year based you're picked this this following of SIB year, levers seeing think segment, is that we to the saw you having And in that ERP including related up third an also visibility pull 'XX of

Cindy Miller

first. start with that second I'll question

technology to as been, and better. harness as certainly got got that, I been get X absent business, we've technology think I think any add time you've you've a that to you that's to

So we've we greater agreed insights are presented, that contracts, do have upon. pushback, rates into rates

your core is which question, our think of shows. the gotten think smarter. I intelligence, I really, think, I market it And we've So

the to let's a I opportunity And continue if the for you think that as us. in year, take we And in provide call. when you're Last tons. the news do then are say then terms to it's have look right. feel that's you confident tonnage, about the I value very customers workforce, going you XXX,XXX to stabilize think So of good

estimate year, I we're on yes. I rough XXX,XXX say far about we've bit would say, should the say, I where, got think think XXX halfway little a we right last XXX,XXX, track of so we're this we're finish through probably just is about let's year. think a now. -- so around let's -- I Year-to-date, ahead -- mark

Jan Zelenka

which increase year third this quarter to second in in we tons number, tonnes quarter we year. saw gave the third midyear. XXX,XXX was last quarter Yes, And

was improvement. that So to due

-- Some of year. it we was to due some had disruption last

that this we a it's hard measure, quarter. but little in to see did increase So

Cindy Miller

not over Dave, see improvements, levels, to prepandemic improved last getting we should year. some but certainly

David Manthey

these taken, margin here, And then as all did. broadly But directions than your a with in like dollar we see you're it's assume as Can justify coming -- operating the think And things? actually bit they're actions guess little of different business. two own gross surprising I I I that's bit chasing they're you as of pressures a surprising inflationary terms, follow-up, more you've some to well. not down sales, a It because price higher reason. that in that your also a with moving in expenses percentage seems sort those for still

Jan Zelenka

I think margin you're versus gross we referring to in SG&A. what saw So

SG&A most we've us. seen So are we have inflationary where gross And margin in seen hitting the It's more year-over-year. pressures margin. That's improvement line. expansion at of modest EBITDA in the

Pleased split. So our increases Cindy seeing with of that saw as And you're the pricing as we through. mentioned, over motion well. year-over-year time flowing to cover that's all why

David Manthey

that expenses that's And what's surprised given are look And know see operating mean, about little But this if that actually every to driving you dollars moving of Jenny, at I'm I way, a could and revenues the that of talk your lot of that? quarter I a just down year. price. come the you other

Jan Zelenka

Well, it's shared really disciplined cost function. the management in we're services and gaining efficiencies

It's magical. nothing just fundamentals. it's So

putting in we management. that in line. monthly been to really have cost basis, and those management pulled on those have keep a All So budgeting travel levers costs

level, -- lower too. at and the have costs also have GAAP we lower ERP We

Operator

Thank you, David.

Schneeberger comes today Oppenheimer. question Scott next Our from of

Scott Schneeberger

discuss to sounds you in kind we on for bit one third like pricing. have from guidance, inflationary other. delve quantify, bit of a good X of the me, and quarter, yet and couldn't don't but pricing revenue If your on from infer tell a and little transition is to could that. organic then in the close? a just the a that's good not Janet. revenue little fourth more I that have you maybe the Cindy thoughts to see saw and for some commentary what higher it to guidance, quarter Cindy the into I quarter, then more progression one as and or cadence the bit And yet lot I not month-by-month getting cost have it's Maybe we clear momentum. exceeding clarity of

Cindy Miller

of things. couple A

I on think when said very us I'm more pleased hit you we because flexible momentum. of revenue momentum, and to are you whether on growth in the it quality very, bit it's afforded the a seeing that nimble opportunity revenue market based be initiatives conditions. have

eyes about to and that I the or ground cash launched lastly, the those If it's with flow, ERP going think got momentum, very, boots the we've efforts come ears got on. you're recently. with And the a pleased innovation into and well. pilot modernization, and Puerto -- things We've we talk Rico, then earnings team going in there. working Rico that have whether we Puerto margin then And we're very quite there learnings. share or efficiency we're adjusted We've per on as very pleased getting in few that free

So the I for momentum. is overall theme us, think

steps comfortable vehicle rentals. I talked with at on best very if is, we cost we're it's seeing the of tremendous are a looking pressure I cost combat we though very, it team things question with strong it's as maintenance, you that still the parity pricing on much very tell getting still reference utilities will. can. of is terms the to about is in And cost, And necessary anything that inflationary with -- else confident Scott, everything that pricing, in you, it to amount and and to see in if of pressure, order I'm leasing one think you the at the hopeful I whether and we not are taking can feel worse, reference inflation. of we

just the Janet, of a couple comments then So asked. Scott things on

Jan Zelenka

revenue of we costs Scott, you in that you $X.XX X So a and saw our $X.XX will the flow-through Slide inflationary see at quarter. if against deck, of look

We in $X.XX we headcount the actually the gain So investment an did against higher of from the in pure inflationary costs, split to the costs the traction is quarter. which the company inflationary costs. try

carrying indication. we -- that's in So maintain into some the to order guidance, that quarter. fourth we're momentum the And believe

Scott Schneeberger

And Janet, it the a flow if parter two looks you're my math to correct, free looks cash you amount It quarter, quite in of have of sneaking the like big like going well. atypically the fourth kind is as to large.

If you of elaborate more second income And kind quarter, the a then is the just was could the good what other there? question, expected normally a is, than of in guy on lot quick real part it is.

If could you just driving address that? what's

Jan Zelenka

So income causing what's the which that is other the is FX translation, other income. really in differential

I from I'll flow, To as mentioned, see there. we cash of start So actually free cash operations sort maintaining.

of cash $XX QX. a $XX collections payments, of terms million, then the million interest vendor fourth drive million $XX that, $XX payment $X in improved So to million million, about of of other which then it's and seeing $XX quarter really working of capital compared timing to we're is in CapEx million to improvements and to that lower lower

momentum QX the drivers those And story. change. of key a that's to the QX are So

Operator

you, Thank Scott.

comes Our of from question Michael today Hoffman next Michael? Stifel.

Michael Hoffman

So have calls five I today.

I clearly late yours And trying do up are if marks? XQ how I've we're asked is about.... am question in apologize. how you the into with we dialed demonstrated, any momentum, but sequentially then which about understand the in comments, I've to to year-over-year, hit -- to think you So to are What think up margin dealt I I clearly

Cindy Miller

Yes.

Michael Hoffman

sequentially We we're So up cool. That's are? really too.

of off margin Okay. these and on seeing of benefit done round you've we're And does 'XX? everything model based those just of the actions next to of level versus as what else and this trying all the peak you're being when equal, things, incremental ERP

Cindy Miller

great to think ERP has two of of very provides No, major the as is be with we revenue, X we lot for us. efficiencies. and that a think provides And opportunities the it been companies provides do things portion opportunity -- about It pilot, rollout to manuals. great in an you take rightsize, we but business to a have It is improvements I awful for the a all for thing of completed, away opportunities talk it -- much still technology the still as the third like this XXXX. just I would large companies

can that think, and definitively, step Michael, long-range towards flow in there is, cash margin we know in $XXX be at march our in say improvements I as plan. million I change moment, the this So will free we what

never never as it's you it keep before out. a that backwards there's never further you that. towards marching know, So said sometimes X was climbing, to be, going and and steps enough continue you up out, -- just And pointed it's and we you've

and cash to obviously, I to talk then terms So do our to continue flow bigger through -- us make of in as of it continue on We're current be to And it that and as from march finally business ERP goal step about able that number. kind company, improve free we a sure improvements margin the technology a the then we we have there, for void to be deploy margin. would how to forward. much that's easier leverage think full is platform move going bigger kind to the a we in of

Jan Zelenka

a a basis look you X% think set. settled. is things And longer-term guidance, underlying core rate we we rate growth to compound as and guidance, is X% inflation at this once Michael, what growth And annual our other that that's on that

RISI layered our of the environmental on put the get actions, base and surcharges have north sort underlying but pricing, that. that our put we and Indexes core the in full will do with On with pricing that are we'll rate X% momentum. rate. see as some true for to service year, whatever in that. will when will we up best revenue, surcharge underlying this commodities surcharge on we and we've in next stay our keep year we also dust year impact fuel momentum of to it of some growth fluctuate So some really are settles, of inflation, terms X% But

Michael Hoffman

yesterday's SID interested. be you on imagine part And on have the the that other started are interesting then margins well, of paper. is is I comparatively. on stops more would SID then in gross And I'd the number volume to business, have compelling where SID, lot I to think and of and of yesterday's you waste Is where the observation the that into specific numbers? thing. don't getting all kind waste better medical because of than medical a improve without fair at data have just a tools pace you data have benefit

Cindy Miller

tell shred, engagement, we've can daily gotten will, I operators visibility us I full that that just know morning just dashboards if reference you with reports, which into and to give we day roll and we're that and the in have to as not side, out today's those do basics going regulated regulated. come -- age continue in work we to get on to are our

looking terms But at I think think anytime you're I that's we in transactional revenue, can the and with having organic pre-COVID DSO growth at. stops improvement of us I not terms So you're to back are then spot think the that. of stops, we stops. with look revenue reference a And what some on seeing in that levels. can we're to with I say

Jan Zelenka

was which with stops. to means XX.X%, so And And improvement. Michael, disruption and just is was X.X% volume, the last the ERP the encouraged but about year, staff-based remember, we're measure as revenue revenue impact, which hard equivalent growth, we overall and improvement is as improvement the growth, well due true stop to our the had stop revenue it's due to service roughly in to pricing, XX% up

Operator

question It for you appears Thank Instructions]. we from have further your questions no the audience. [Operator

you. the Thank for So to call at the management any this time, I'd remarks. turn team back closing

Cindy Miller

Luisa. you, thank So

you to everyone appreciate and your your this future. to We much. call. excitement So Thank Stericycle shared listening the in very for interest

Operator

all today's Have may of your lovely lines. and a you joining call. you your for now rest day, disconnect Thank

Stericycle (SRCL) 3 Nov 222022 Q3 Earnings call transcript