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Over the past two weeks, the publicly-traded solid waste companies reported first quarter earnings and a number of them updated guidance. In this month’s edition of Business Report, we present highlights and takeaways from the reports and follow-up conference calls. Price Strength Surprises; More Volume to Come Waste Management (WM), Waste Connections (WCN) and GFL Environmental (GFL) all reported yield or price growth above expectations and at the high end or above their own full year guidance. A disciplined pricing environment, returning volumes, lower churn and better retention were all credited. Republic Services (RSG) and Casella Waste (CWST) reported yield or pricing results modestly below full year expectations or at the low end of their range at 2.3% and 3.4%, respectively, but both companies noted timing issues and the expectation that pricing would accelerate during the course of the year, with RSG reconfirming its confidence in its full year target of 2.5%.

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