[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the significance of the date April 27th, 2023, during the call?
### Assistant: The significance of the date April 27th, 2023, during the call is not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What restrictions are there on the redistribution, retransmission, or rebroadcast of the call?
### Assistant: The redistribution, retransmission, or rebroadcast of the call in any form without the expressed written consent of Waste Management is prohibited.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the first-quarter revenue growth and organic growth rates for Waste Management?
### Assistant: The first-quarter revenue growth rate for Waste Management was 5%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Which business segment experienced strong organic growth in the first quarter?
### Assistant: The collection and disposal business segment experienced strong organic growth in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does West Coast weather impact Waste Management's results?
### Assistant: The impact of West Coast weather on Waste Management's results is not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's full-year guidance for 2023?
### Assistant: The full-year guidance for Waste Management in 2023 is not provided in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management define "solid start" in the context of their first-quarter results?
### Assistant: "Solid start" in the context of Waste Management's first-quarter results means that the company achieved their expectations and is on track to meet their full-year guidance.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors contributed to the 5% revenue growth in the first quarter?
### Assistant: The 5% revenue growth in the first quarter was driven by continued strong organic growth in the collection and disposal business.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management measure and track organic growth?
### Assistant: Waste Management measures and tracks organic growth by monitoring the revenue generated from yield or volume.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the key financial metrics that Waste Management focuses on?
### Assistant: The key financial metrics that Waste Management focuses on are not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management ensure comparability in their adjusted measures?
### Assistant: Waste Management ensures comparability in their adjusted measures by excluding certain items that management believes do not reflect their fundamental business performance or results of operation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management use non-GAAP measures in their financial reporting?
### Assistant: Waste Management uses non-GAAP measures in their financial reporting to provide additional insights into their financial performance and to enhance comparability.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did Waste Management perform in the first quarter?
### Assistant: Waste Management performed well in the first quarter, with their performance being basically on budget and in line with their strategic priorities. They achieved their first-quarter targets, with overall adjusted operating EBITDA growing nearly 4% and operating EBITDA in the collection and disposal business growing 7% in the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are Waste Management's strategic priorities?
### Assistant: Waste Management's strategic priorities include maintaining strong price discipline, permanently reducing their operating and SG&A cost structure through business optimization, technology, and automation, and leveraging their sustainability platform for growth. These priorities are aimed at producing robust short-term and long-term financial performance.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management plan to reduce operating and SG&A costs?
### Assistant: Waste Management plans to reduce operating and SG&A costs through business optimization, technology, and automation. For example, they have expanded their customer self-service capabilities, reducing their call center department costs in the first quarter by more than 20% compared to last year while maintaining or improving their Net Promoter Scores in the commercial and industrial lines of business.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management leverage its sustainability platform for growth?
### Assistant: Waste Management leverages its sustainability platform for growth by capitalizing on the growth in their renewable energy and recycling businesses. The investments they are making over the next several years in these areas are expected to provide meaningful operating EBITDA and free cash flow growth with impressive returns.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What investments is Waste Management making in renewable energy and recycling businesses?
### Assistant: Waste Management is making investments in renewable energy and recycling businesses. They plan to bring online two new renewable natural gas facilities and seven newly automated material recovery facilities by the end of the year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many new renewable natural gas facilities and automated material recovery facilities does Waste Management plan to bring online by the end of the year?
### Assistant: Waste Management plans to bring online two new renewable natural gas facilities and seven newly automated material recovery facilities by the end of the year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Where is Waste Management opening a new MRF in 2023?
### Assistant: Waste Management is opening one new MRF (Material Recovery Facility) in 2023 in the Greater Toronto area. This positions them strongly in the largest growth market in Canada.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What percentage of operating EBITDA is projected to come from the solid waste business in 2026?
### Assistant: The solid waste business is projected to generate roughly 85% of operating EBITDA in 2026.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management optimize performance and reduce costs in the solid waste business?
### Assistant: Waste Management optimizes performance and reduces costs in the solid waste business through technology and automation. They focus on optimizing performance and reducing costs in this area as it continues to make up the lion's share of their earnings.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Waste Management reduced call center department costs while maintaining or improving Net Promoter Scores?
### Assistant: Waste Management has reduced call center department costs in the first quarter by more than 20% compared to last year while maintaining or improving their Net Promoter Scores in the commercial and industrial lines of business. This is achieved through the expansion of their customer self-service capabilities.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has the WM team performed in 2023 so far?
### Assistant: The WM team has performed strongly in 2023 so far, delivering strong performance and achieving their first-quarter targets.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's full-year guidance for adjusted operating EBITDA growth?
### Assistant: Waste Management's full-year guidance for adjusted operating EBITDA growth is 7% at the midpoint.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's outlook for adjusted operating EBITDA margin expansion?
### Assistant: Waste Management's outlook for adjusted operating EBITDA margin expansion is between 40 and 80 basis points.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who will discuss Waste Management's operational results for the quarter?
### Assistant: John Morris, the Executive Vice President and Chief Operating Officer, will discuss Waste Management's operational results for the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did adjusted operating EBITDA grow in the first quarter?
### Assistant: Adjusted operating EBITDA grew nearly 4% in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did operating EBITDA in the collection and disposal business grow in the quarter?
### Assistant: Operating EBITDA in the collection and disposal business grew 7% in the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did pricing perform in the first quarter for Waste Management?
### Assistant: Pricing performed well in the first quarter for Waste Management. They continue to execute on their revenue management programs to recover cost increases and improve margins.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the growth rate of core price in the collection and disposal business?
### Assistant: The growth rate of core price in the collection and disposal business was 7.4% in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did post collection yield perform in the first quarter?
### Assistant: Post collection yield performed well in the first quarter. They delivered a yield of 8.9% for their transfer stations and 5.4% for landfill MSW (Municipal Solid Waste), both increases from last year. The transfer station yield is a new high for that line of business.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's focus in striking the right balance between maximizing customer lifetime value and increasing price?
### Assistant: Waste Management's focus in striking the right balance between maximizing customer lifetime value and increasing price is to emphasize the importance of post collection pricing. They aim to recover higher costs while maximizing customer lifetime value.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are Waste Management's full-year pricing expectations for core price and yield?
### Assistant: Waste Management's full-year pricing expectations for core price are between 6.5% and 7%, and their yield is expected to approach 5.5%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did collection and disposal volume perform in the first quarter?
### Assistant: Collection and disposal volume grew in the first quarter, although specific details about the growth rate are not mentioned in the provided text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management recover cost increases and improve margins?
### Assistant: Waste Management recovers cost increases and improves margins through their revenue management programs. They execute these programs to recover cost increases and improve margins.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the importance of post collection pricing for Waste Management?
### Assistant: The importance of post collection pricing for Waste Management is consistently emphasized. They have delivered strong yield performance in this area, with a yield of 8.9% for their transfer stations and 5.4% for landfill MSW in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management offset increasing costs of labor and transportation?
### Assistant: Waste Management offsets increasing costs of labor and transportation by striking the right balance between maximizing customer lifetime value and increasing price. They focus on post collection pricing and continue to emphasize its importance in recovering higher costs.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the landfill volumes in the quarter for Waste Management?
### Assistant: The text does not explicitly mention the exact landfill volumes for Waste Management in the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did C&D volumes increase in the quarter for Waste Management?
### Assistant: The C&D (Construction and Demolition) volumes increased by almost 37% in the quarter for Waste Management.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What drove the increase in C&D volumes for Waste Management?
### Assistant: The increase in C&D volumes for Waste Management was driven by the hurricane cleanup in Florida.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did MSW volumes increase in the quarter for Waste Management?
### Assistant: The MSW (Municipal Solid Waste) volumes increased by almost 3% in the quarter for Waste Management.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What caused the moderation of special waste volumes for Waste Management in the quarter?
### Assistant: The moderation of special waste volumes for Waste Management in the quarter was due to the timing of event-driven work.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the outlook for Waste Management's pipeline of special waste volumes?
### Assistant: The outlook for Waste Management's pipeline of special waste volumes remains robust, indicating potential incremental revenue growth in the future.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Why were Waste Management's collection volumes down in the quarter?
### Assistant: Waste Management's collection volumes were down in the quarter due to intentional steps taken to price every contract to achieve acceptable returns.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What steps did Waste Management take to achieve acceptable returns in their contracts?
### Assistant: Waste Management took intentional steps to price every contract to achieve acceptable returns, which led to some non-regrettable volume losses in their residential and commercial business.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Waste Management's profitability improved in each line of business?
### Assistant: Waste Management's profitability has improved in each line of business, possibly due to contract wins with healthy price increases and their differentiated service and disciplined approach.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's expectation for overall volumes for the full year?
### Assistant: Waste Management expects flat overall volumes for the full year, at the midpoint of their guidance.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did operating expenses as a percentage of revenue change for Waste Management?
### Assistant: Operating expenses as a percentage of revenue increased by 70 basis points to 63% for Waste Management.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What efforts are in place to optimize Waste Management's cost to serve in 2023 and beyond?
### Assistant: Waste Management has efforts in place to optimize their cost to serve in 2023 and over the long-term, although specific details are not provided.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the primary contributors to Waste Management's first-quarter results?
### Assistant: The primary contributors to Waste Management's first-quarter results were the dilutive impact of recent acquisitions and continued inflationary cost pressure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did recent acquisitions impact Waste Management's first-quarter results?
### Assistant: Recent acquisitions had an impact on Waste Management's first-quarter results but the specific details or effects are not mentioned.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the impacts of integration costs and upfront dilutive margins from acquisitions on Waste Management's first-quarter results?
### Assistant: Integration costs and upfront dilutive margins from acquisitions had about a 35 basis point impact on Waste Management's first-quarter results.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the main drivers of cost inflation for Waste Management?
### Assistant: The main drivers of cost inflation for Waste Management were most significant in wages, repair and maintenance, and subcontractor costs.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What signs of easing cost pressures does Waste Management see?
### Assistant: Waste Management sees signs of easing cost pressures, although further information on the specific signs is not provided.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How have frontline wage increases changed for Waste Management?
### Assistant: Frontline wage increases for Waste Management are now in the mid-single-digit range, compared to the high single to low double-digit increases seen in late 2021 and 2022.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How will getting trucks delivered benefit Waste Management's cost structure?
### Assistant: Getting trucks delivered will benefit Waste Management's cost structure by improving employee engagement, minimizing downtime on routes, reducing repair costs, and eliminating expensive rentals.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the productivity pickup Waste Management expects from moving to automated side loaders?
### Assistant: Waste Management expects about a 30% productivity pickup from moving to automated side loaders, which translates to lower driver technician and truck capital needs.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What investments is Waste Management making in its people and processes?
### Assistant: Waste Management is making investments in its people and processes to optimize its cost to serve, but specific details or examples are not mentioned.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does improved retention benefit Waste Management's cost structure?
### Assistant: Improved retention benefits Waste Management's cost structure by translating into better customer service and optimized cost structure, as tenured drivers are the safest and most efficient.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did driver retention in the first quarter of 2023 compare to previous years for Waste Management?
### Assistant: In the first quarter of 2023, Waste Management saw the best driver retention they've seen in two years, indicating an improvement compared to previous years.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does improved driver retention impact Waste Management's efficiency and safety performance?
### Assistant: Improved driver retention impacts Waste Management's efficiency and safety performance by driving down training and overtime hours, improving overall efficiency, and contributing to continued safety improvement.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were Waste Management's first-quarter cash flow from operations and capital spending?
### Assistant: Waste Management's first-quarter cash flow from operations was $1.04 billion, while their capital spending in the quarter totaled $660 million, with $504 million related to normal course capital and $156 million on sustainability growth projects.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many truck deliveries did Waste Management receive this year compared to last year?
### Assistant: Waste Management received about 470 truck deliveries this year compared to less than 50 trucks at the same time last year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How have truck deliveries impacted Waste Management's ability to meet their objectives?
### Assistant: The delays in truck deliveries have impacted Waste Management's ability to deliver on residential collection optimization objectives and targeted improvements in maintenance cost per driver hour.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much free cash flow did Waste Management generate in the first quarter?
### Assistant: Waste Management generated free cash flow of $395 million in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's full-year guidance for free cash flow?
### Assistant: Waste Management's full-year guidance for free cash flow is between $2.6 billion and $2.7 billion.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much money did Waste Management return to shareholders during the quarter?
### Assistant: Waste Management returned $639 million to shareholders during the quarter, with $289 million paid in dividends and $350 million used for stock repurchases.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's leverage ratio at the end of the first quarter?
### Assistant: Waste Management's leverage ratio at the end of the first quarter was two times, which is within their target ratio of between 2.5 and three times.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What percentage of Waste Management's total debt portfolio is at variable rates?
### Assistant: About 18% of Waste Management's total debt portfolio is at variable rates.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was Waste Management's pre-tax weighted average cost of debt for the quarter?
### Assistant: Waste Management's pre-tax weighted average cost of debt for the quarter was about 3.7%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did Waste Management's SG&A costs in the first quarter compare to the same period in the prior year?
### Assistant: Waste Management's SG&A costs in the first quarter were essentially flat compared to the same period in the prior year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What percentage of revenue did Waste Management spend on SG&A costs in the first quarter?
### Assistant: Spending on SG&A costs as a percentage of revenue improved by 40 basis points to 9.7% in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the three factors that contributed to the margin decline in Waste Management's operating EBITDA?
### Assistant: The three factors that contributed to the margin decline in Waste Management's operating EBITDA were commodity price impacts on their renewable energy and recycling businesses (50 basis point headwind), the dilutive impact of acquisitions completed in late 2022 (40 basis point impact), and cost pressure in their collection and local business from wage inflation and delayed truck deliveries (20 basis point impact).


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did acquisitions completed in late 2022 impact Waste Management's operating EBITDA margin?
### Assistant: Acquisitions completed in late 2022 had a 40 basis point impact on Waste Management's operating EBITDA margin.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the cost pressures in Waste Management's collection and local business?
### Assistant: The cost pressures in Waste Management's collection and local business were from wage inflation and delayed truck deliveries.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did Waste Management's disciplined organic revenue growth and focus on cost control impact their margin expansion?
### Assistant: Waste Management's disciplined organic revenue growth and focus on cost control are expected to drive year-over-year margin expansion for the remainder of the year, particularly in the third and fourth quarters.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's outlook for margin expansion for the remainder of the year?
### Assistant: Waste Management expects margin expansion for the remainder of the year, particularly in the third and fourth quarters.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did Waste Management's team perform in the first quarter?
### Assistant: Waste Management's team delivered a solid start to the year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What contributions did Waste Management's team members make to their success?
### Assistant: Waste Management's team members made significant contributions to their success.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's guidance for EBITDA margin improvement in 2023?
### Assistant: Waste Management reiterated their guidance for an 80 basis points improvement in EBITDA margin in 2023.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When does Waste Management expect to see an inflection point in EBITDA margins?
### Assistant: Waste Management expects to see an inflection point in EBITDA margins in the second quarter or at least approach flat, with a more significant inflection in the third quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much improvement in EBITDA margins does Waste Management expect in the second quarter?
### Assistant: Waste Management expects improvement in EBITDA margins in the second quarter, although the specific amount of improvement is not mentioned.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When does Waste Management expect EBITDA margins to inflect?
### Assistant: Waste Management expects EBITDA margins to inflect in the third quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management plan to drive improvement in SG&A costs?
### Assistant: Waste Management plans to drive improvement in SG&A costs by rationalizing costs and optimizing their sales and customer experience functions.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's expectation for their SG&A cost structure?
### Assistant: Waste Management expects their investments to continue driving improvement in SG&A costs and put them on a path toward a permanently reduced SG&A cost structure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management expect their disciplined organic revenue growth and cost control to impact margin expansion?
### Assistant: Waste Management expects their disciplined organic revenue growth and focus on optimization and cost control to drive year-over-year margin expansion for the remainder of the year, particularly in the third and fourth quarters.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's outlook for financial growth in 2023?
### Assistant: Waste Management has an outlook for another year of strong financial growth in 2023.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's expected improvement in EBITDA margin for the third and fourth quarters?
### Assistant: Waste Management is expecting some improvement in EBITDA margin in the third and fourth quarters, compared to what was seen in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much impact did commodity businesses have on Waste Management's first-quarter results?
### Assistant: Commodity businesses had a 50 basis points impact on Waste Management's first-quarter results.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When does Waste Management expect the impact of commodity prices to start abating?
### Assistant: Waste Management expects the impact of commodity prices to start abating beginning in the second quarter, but the majority of the impact will be seen in the third and fourth quarters when the year-over-year comparisons on commodity prices improve.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the dilutive impact of M&A on Waste Management's first-quarter results?
### Assistant: The dilutive impact of M&A on Waste Management's first-quarter results was 40 basis points, with half of it coming from solid waste and half from recycling.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Which businesses within Waste Management's portfolio experienced higher upfront costs associated with integration?
### Assistant: The recycling business within Waste Management's portfolio experienced higher upfront costs associated with integration.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Will the upfront costs associated with integrating the recycling business continue throughout the year?
### Assistant: Waste Management does not expect the upfront costs associated with integrating the recycling business to continue throughout the year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What step did Waste Management take on the solid waste side to invest in its frontline team members?
### Assistant: Waste Management took the step of making the MLK holiday across the entire organization on the solid waste side as an investment in its frontline team members.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is the MLK holiday across the entire organization a one-time event or will it continue throughout the year?
### Assistant: The MLK holiday across the entire organization is a Q1-only event and will not continue throughout the year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What gives Waste Management confidence that the first-quarter results will exceed the rest of the year?
### Assistant: Waste Management is confident that the first-quarter results will exceed the rest of the year due to various factors mentioned in the conversation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: In what quarters does Waste Management expect to see strong results?
### Assistant: Waste Management expects to see strong results in the third and fourth quarters.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Did the value of recycled commodities in the first quarter meet Waste Management's expectations?
### Assistant: The value of recycled commodities in the first quarter met Waste Management's expectations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management expecting for the value of recycled commodities in the second quarter?
### Assistant: Waste Management does not explicitly mention what it is expecting for the value of recycled commodities in the second quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is Waste Management still looking for a $70 a ton commodity basket for 2023?
### Assistant: Yes, Waste Management is still looking for a $70 a ton commodity basket for 2023.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the average value of recycled commodities in the month of March?
### Assistant: The average value of recycled commodities in the month of March was $57.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors are contributing to the improvement in the value of recycled commodities?
### Assistant: The improvement in the value of recycled commodities is attributed to factors such as increased mill capacity, higher pricing for plastics, aluminums, and OCC (old corrugated containers).


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How quickly can the productivity impact of additional truck orders be seen in Waste Management's results?
### Assistant: The productivity impact of additional truck orders can be seen in Waste Management's results within 30 to 45 days from the time the vehicles are put on the road.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Could the productivity impact of additional truck orders be upside to Waste Management's guidance for this year?
### Assistant: The productivity impact of additional truck orders is already considered in Waste Management's plan for EBITDA and EBITDA margin this year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is the return to a more normal trend in truck deliveries already embedded in Waste Management's guidance?
### Assistant: Yes, the return to a more normal trend in truck deliveries is already embedded in Waste Management's guidance.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many trucks has Waste Management delivered year to date compared to last year?
### Assistant: Waste Management has delivered almost 500 trucks year to date, compared to 50 trucks delivered last year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How long does it take for Waste Management to get new trucks on the road and remove older vehicles?
### Assistant: It takes Waste Management 30 to 45 days to get new trucks on the road and remove older vehicles.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many vehicles is Waste Management lagging behind in its fleet plan compared to pre-COVID levels?
### Assistant: Waste Management is lagging behind approximately 2,000-plus vehicles in its fleet plan compared to pre-COVID levels.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many trucks does Waste Management expect to receive this year to reach a full complement?
### Assistant: Waste Management expects to receive a total of 1,500 to 1,600 trucks this year to reach a full complement.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's fleet plan for this year in terms of truck deliveries?
### Assistant: Waste Management's fleet plan for this year includes delivering a total of 1,500 to 1,600 trucks.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many trucks does Waste Management anticipate having in its fleet by the end of the year?
### Assistant: Waste Management anticipates having approximately 1,500 to 1,600 trucks in its fleet by the end of the year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's current truck delivery situation compare to previous years?
### Assistant: Waste Management's current truck delivery situation is significantly better compared to last year, as they have already delivered almost 500 trucks year to date, compared to only 50 trucks delivered last year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the company's name mentioned in the text?
### Assistant: The company's name mentioned in the text is Waste Management.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Jim Fish in the company?
### Assistant: Jim Fish is the President and Chief Executive Officer of Waste Management.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Waste Management been impacted by the banking crisis?
### Assistant: Waste Management has not been significantly impacted by the banking crisis as it is not as affected by it as some other business services companies.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Have there been any changes in conversations with customers due to the recession concerns?
### Assistant: There is no mention of any changes in conversations with customers due to recession concerns.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are some indicators of the overall economy that Waste Management looks at?
### Assistant: Waste Management looks at indicators such as churn, price rollbacks, and volume numbers, especially MSW (Municipal Solid Waste) volume, to gauge the overall economy.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the current percentage of MSW volume for Waste Management?
### Assistant: The current percentage of MSW volume for Waste Management is around 3%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management address the challenges in M&R?
### Assistant: Waste Management addresses the challenges in M&R (Maintenance and Repair) by focusing on automation and optimization to permanently lower their operating expense exposure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the labor front like for Waste Management?
### Assistant: The labor front for Waste Management has seen a decrease in labor costs, with the labor cost growth moderating back down to mid-single digits.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any issues with subcontractors for Waste Management?
### Assistant: Waste Management is experiencing some lag with subcontractors, specifically third-party transporters.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management address revenue quality at transfer stations?
### Assistant: Waste Management addresses revenue quality at transfer stations by focusing on the remote gates and transfer station operations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's focus for the balance of the year?
### Assistant: Waste Management's focus for the balance of the year is on permanently lowering their operating expense exposure through automation and optimization.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who is the analyst from Morgan Stanley asking questions?
### Assistant: The analyst from Morgan Stanley asking questions is Toni Kaplan.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the typical seasonality for Waste Management's margins in the second quarter?
### Assistant: The typical seasonality for Waste Management's margins in the second quarter is an increase of about 200 basis points compared to the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any one-offs that impacted Waste Management's margins in the first quarter?
### Assistant: There is no mention of any one-offs that impacted Waste Management's margins in the first quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is there a potential for stronger sequential margin growth in the second quarter?
### Assistant: Waste Management expects there to be stronger sequential margin growth in the second quarter due to the normal seasonal uptick in revenue and the lapping of some commodity price impacts.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the expected benefits from lapping commodity price impacts for Waste Management?
### Assistant: Waste Management expects to benefit from lapping some commodity price impacts, which will have a positive impact on their margins.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's differentiated service model impact their national accounts business?
### Assistant: Waste Management's differentiated service model is expected to have a positive impact on their national accounts business by attracting and retaining customers, leading to the return of contracts and increased revenue.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any contracts expirations that Waste Management expects to see return?
### Assistant: Waste Management expects to see the return of contracts that have expired.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors contribute to the expansion of Waste Management's revenue perspective?
### Assistant: The expansion of Waste Management's revenue perspective is expected to come from the normal seasonal uptick in revenue, the lapping of commodity price impacts, and strong accretive revenue in the collection line of business, particularly from national accounts.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management lower their operating expense exposure?
### Assistant: Waste Management lowers their operating expense exposure through automation and optimization, which helps to permanently reduce their operating expenses.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who is the analyst from Goldman Sachs asking questions?
### Assistant: The analyst from Goldman Sachs asking questions is Jerry Revich.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the added benefits Waste Management expects from their service model in the collection line of business?
### Assistant: Waste Management expects added benefits from their service model in the collection line of business, particularly in terms of attracting and retaining national accounts, which will contribute to increased revenue.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's service model pay dividends in their national accounts business?
### Assistant: Waste Management's service model pays dividends in their national accounts business by providing differentiated services that attract and retain customers, leading to increased revenue.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's expectation for the first quarter of 2023 in terms of margin pressures?
### Assistant: Waste Management expects margin pressures in the first quarter of 2023 to be related to that specific period, and they anticipate a normal seasonal uptick in revenue to provide the typical expansion in margins.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management expect their revenue to be impacted by the contracts' expirations?
### Assistant: Waste Management expects their revenue to be impacted positively by the return of contracts as they expire.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's margin run rate?
### Assistant: Waste Management's margin run rate is expected to be achieved as early as 2Q.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's post-collection pricing momentum compare to CPI pricing?
### Assistant: Waste Management's post-collection pricing momentum is not explicitly compared to CPI pricing in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors contribute to the difficulty of increasing pricing in transfer stations and landfills?
### Assistant: The difficulty of increasing pricing in transfer stations and landfills is due to the larger volume and big customers involved in those decisions.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's pricing strategy aim to recover investment and improve margins?
### Assistant: Waste Management's pricing strategy aims to recover investment by ensuring a minimum price to cover costs, while also seeking opportunities for margin improvement.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Why does Waste Management price landfill space higher?
### Assistant: Waste Management prices landfill space higher because it is considered a precious commodity with a finite life, especially on the East Coast.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Waste Management focused on cost control in terms of SG&A?
### Assistant: Waste Management has focused on cost control in terms of SG&A by not refilling certain positions, such as call center positions and reloaders.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What positions did Waste Management choose not to refill last year and this year?
### Assistant: Waste Management chose not to refill about 580 positions last year and plans to not refill another 300 positions this year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much progress has Waste Management made in replacing reloaders with ASOs?
### Assistant: Waste Management has made progress in replacing reloaders with ASOs, but the exact level of progress is not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many positions does Waste Management plan to not refill in total?
### Assistant: Waste Management plans to not refill up to 2,000 positions in total.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does not refilling certain positions help Waste Management from a safety standpoint?
### Assistant: Not refilling certain positions helps Waste Management from a safety standpoint by reducing the number of injuries, particularly in the residential line of business where 70% of injuries occur.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What percentage of injuries in Waste Management's line of business occur in the residential sector?
### Assistant: The given text does not provide the specific percentage of injuries in Waste Management's line of business that occur in the residential sector.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the turnover rate for the positions that Waste Management chooses not to refill?
### Assistant: The turnover rate for the positions that Waste Management chooses not to refill is approximately 50%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Waste Management's public sector team in the transition to trash totters?
### Assistant: Waste Management's public sector team plays a role in the transition to trash totters by communicating with customers to ensure their comfort with the change.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does the transition to trash totters help Waste Management from a safety standpoint?
### Assistant: The transition to trash totters helps Waste Management from a safety standpoint by reducing injuries, as 90% of the injuries in the residential line of business are on rear loaders.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the level of unit cost inflation embedded in Waste Management's 2023 guide?
### Assistant: The given text does not provide information on the level of unit cost inflation embedded in Waste Management's 2023 guide.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's current unit cost inflation compare to the embedded level in the 2023 guide?
### Assistant: The given text does not provide information on Waste Management's current unit cost inflation in comparison to the embedded level in the 2023 guide.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Waste Management's team come to appreciate landfill space as a precious commodity?
### Assistant: Waste Management's team has come to appreciate landfill space as a precious commodity due to its limited availability and finite lifespan.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Why is landfill space more expensive on the East Coast?
### Assistant: Landfill space is more expensive on the East Coast due to higher demand and limited availability of suitable land.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's pricing strategy reflect the finite life of landfill space?
### Assistant: Waste Management's pricing strategy reflects the finite life of landfill space by pricing it higher to account for its limited availability and the need to recover investment within that timeframe.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the significance of landfill pricing in Waste Management's overall pricing strategy?
### Assistant: Landfill pricing plays a significant role in Waste Management's overall pricing strategy as it is a key component of their business and requires careful consideration due to its limited availability and finite life.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Waste Management achieved strong cost control in terms of SG&A?
### Assistant: Waste Management has achieved strong cost control in terms of SG&A by not refilling certain positions and implementing other cost-saving initiatives.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What initiatives has Waste Management implemented on the call center side?
### Assistant: Waste Management has implemented initiatives on the call center side, such as not refilling positions and transitioning to trash totters.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much progress has Waste Management made in not refilling positions on the call center side?
### Assistant: Waste Management has made approximately 60% progress in not refilling call center positions, but the level of progress in other positions is not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management plan to replace reloaders with ASOs and what productivity pick up is expected?
### Assistant: Waste Management plans to replace reloaders with ASOs once the necessary trucks are received, and a 30% productivity pick up is expected from this change.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's transition to trash totters impact its customer base and safety?
### Assistant: Waste Management's transition to trash totters impacts its customer base by requiring communication with customers to ensure their comfort with the change, and it also improves safety by reducing injuries associated with rear loaders.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the expected unit cost inflation for Waste Management in 2023?
### Assistant: Waste Management expects about 4% to 5% unit cost inflation in 2023.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Was the unit cost inflation higher or lower than expected in Q1?
### Assistant: The unit cost inflation in Q1 was higher than expected.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Which specific areas of Waste Management's operations are expected to benefit from actions taken in February and March?
### Assistant: The specific areas of Waste Management's operations expected to benefit from actions taken in February and March are labor and repair and maintenance.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management's pricing environment compare to that of its competitors?
### Assistant: Waste Management's pricing environment is disciplined and strong, with a focus on maintaining a positive spread to unit cost inflation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is Waste Management's go-to-market strategy for maintaining a positive spread to unit cost inflation?
### Assistant: Waste Management's go-to-market strategy for maintaining a positive spread to unit cost inflation involves focusing on price, cost control (both SG&A and opex), and utilizing technology to facilitate cost control.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has pricing in the residential sector and landfill and transfer sector changed for Waste Management over the past four years?
### Assistant: Pricing in the residential sector and landfill and transfer sector has increased significantly for Waste Management over the past four years.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the three areas of focus for Waste Management in 2023?
### Assistant: The three areas of focus for Waste Management in 2023 are price, cost control (both SG&A and opex), and sustainability investments.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management plan to control costs and utilize technology to facilitate cost control?
### Assistant: Waste Management plans to control costs by implementing cost control measures in SG&A and opex, as well as utilizing technology to facilitate cost control.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the sustainability investments that Waste Management is prioritizing?
### Assistant: The sustainability investments that Waste Management is prioritizing include initiatives related to waste reduction, recycling, and environmental conservation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the specific headwinds and tailwinds affecting Waste Management's margin walk?
### Assistant: The specific headwinds and tailwinds affecting Waste Management's margin walk include commodities and RINs (a type of renewable identification number), M&A, a fuel tax credit, and higher incentive compensation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did commodities and RINs impact Waste Management's margin?
### Assistant: Commodities and RINs had a dilutive impact of 50 basis points on Waste Management's margin.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the impact of M&A on Waste Management's margin?
### Assistant: M&A had a 40 basis point headwind on Waste Management's margin.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Did the fuel tax credit help or hurt Waste Management's margin?
### Assistant: The fuel tax credit helped Waste Management's margin.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Was the higher incentive compensation referring to cash flow or EBITDA?
### Assistant: The higher incentive compensation was referring to EBITDA.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did the addition of a holiday impact Waste Management's margin?
### Assistant: The addition of a holiday had a 50 basis point headwind on Waste Management's margin due to one less workday.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management recognize alternative fuel tax credits and when will they be normalized?
### Assistant: Waste Management recognizes alternative fuel tax credits quarter-by-quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the delay in the recognition of tax credit benefits for Waste Management in 2022?
### Assistant: The delay in the recognition of tax credit benefits for Waste Management in 2022 was due to a delay in the approval of those tax credits by the government.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How will the recognition of tax credit benefits for Waste Management change in 2023?
### Assistant: In 2023, the recognition of tax credit benefits for Waste Management will be normalized, with benefits being recognized quarter-by-quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the dilutive impact of commodity businesses on Waste Management's margin?
### Assistant: The dilutive impact of commodity businesses on Waste Management's margin was 50 basis points.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management plan to address the dilutive impact of commodity businesses?
### Assistant: Waste Management plans to address the dilutive impact of commodity businesses through various strategies, which are not specified in the provided text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management expect the dilutive impact of commodity businesses to change in the future?
### Assistant: The text does not provide information on how Waste Management expects the dilutive impact of commodity businesses to change in the future.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the timeline for the normalization of the dilutive impact of commodity businesses on Waste Management's margin?
### Assistant: The timeline for the normalization of the dilutive impact of commodity businesses on Waste Management's margin is not specified in the provided text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management manage its commodity businesses?
### Assistant: The text does not provide specific information on how Waste Management manages its commodity businesses.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors contribute to the dilutive impact of commodity businesses on Waste Management's margin?
### Assistant: The dilutive impact of commodity businesses on Waste Management's margin is influenced by factors such as commodity price fluctuations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does Waste Management mitigate the impact of commodity price fluctuations on its margin?
### Assistant: The text does not provide information on how Waste Management mitigates the impact of commodity price fluctuations on its margin.