I think I would point to this quarter. We delivered in the seasonally weakest quarter a 32% adjusted EBITDA margin. I don't know that we noted it in the call, but labor was down approaching 50 basis points from prior year period as a percentage of revenue. So we are managing it, I think, very closely. Our field does an exceptional job of managing all expense lines, labor included, as a percentage of net revenue, which is how we look at the business. And so that's a dynamic thing that we are doing on a daily basis at every one of our locations. You know, the special waste business, as you were asking the question, you know, that's a landfill business, so it's a high fixed cost, low variable cost business. So it certainly is somewhat volume dependent. But, you know, I don't think you will find us, you know, in any environment hiding behind, you know, expense management or lack of expense management as an area of margin concern. That's not how we run the business, and we will deliver on the margin irrespective of what's transpiring in the revenue line.

Apr 24, 2025 / receipt, needs a key / Mary Ann, CFO | earnings call 2025-04-24 | transcript b71816c6-90d3-4834-9792-f59cd612db9f | chars 41234-42299 | segment 41

Yeah, good question, Kevin. So first off, let me explain how we think of our regional alignment. So we think about it not just in terms of revenue size. We think about it in terms of employee size. We think of it in terms of geography. and our ability to get within that geography, either over the road or via other mechanisms, because our regional staff has to travel and cover that. We think of it in terms of waste flows, how it flows within a geography. And then we think of it in terms of forward-looking M&A opportunity and growth. So you can't look at a region and say, well, this region's annualizing at a billion dollars and another one's at two billion, so they must think that region can go from one to two. That would be a misleading way to characterize the way to think about it because that is only one factor. We may have close to the same number of employees that are in a billion-to-billion-two region that are in a $2 billion region because of the price of disposal, because of other things. So we - and the Mid-South, if you look at Tennessee, Kentucky, Alabama, you know, more rural states, you're covering a lot of geography. And so you have more people. You also have a lot of more residential business. So you've got more people employed through that. So it's a complex way to tell you how we think about what goes within a region. Does the Mid-South have tremendous growth opportunities? Absolutely, we believe it does. Just look at those states. But should you think about it

Aug 3, 2023 / receipt, needs a key / Kevin Chang, other | earnings call 2023-08-03 | transcript e7f94560-639e-41a7-822c-d90c655eb536 | chars 49862-51362 | segment 51

Sure. Well, Sean, there's a number of things we look at, but as I've mentioned in previous investor meetings and analyst conferences, look, there is not some 100 basis point lever that we are missing here at Waste Connections. The company has always been a very cost-focused and well-run company, but With turnover where it has been, there is no question that there is up to 100 basis points that we can take out of our cost structure over the next 18 to 24 months in seven or eight line items as retention improves.

Aug 3, 2023 / receipt, needs a key / Ron, CEO | earnings call 2023-08-03 | transcript e7f94560-639e-41a7-822c-d90c655eb536 | chars 28186-28702 | segment 28

>100 acquisitions over last five years with annualized revenue of ~$2.3B

ir_statement / Sep 16, 2026 / receipt

Leverage essentially unchanged despite elevated outlays

ir_statement / Sep 16, 2026 / receipt

Leveraging technology across multiple platforms

ir_statement / Sep 16, 2026 / receipt

Non-recurring closure-related outlays abating

ir_statement / Sep 16, 2026 / receipt

Expected to drive 100bps margin benefit by 2030

ir_statement / Sep 16, 2026 / receipt

Fleet-based cameras to detect overages

ir_statement / Sep 16, 2026 / receipt

HARNESSING AI TO DRIVE EFFICIENCY

ir_statement / Sep 16, 2026 / receipt