FULL YEAR 2022 OUTLOOK Financial Discussion
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FULL YEAR 2022 OUTLOOK *
Financial Metrics**
Revenue: $7.125 billion =>Reflects $250mm increase from
original outlook on higher core price-led solid waste organic
growth and acquisitions completed since February
Up $974 million YoY or ~16%
Adjusted EBITDA: ~$2.190 billion => Increased by $45 million
from original outlook
➤Up $271mm YoY or ~14%
➤ Adjusted EBITDA Margin: 30.7% => reflects impact of
incremental price increases to overcome inflation
Other Observations
Upside potential to 2022 outlook from:
➤ Improvement in commodity-driven revenues
Increased E&P waste activity
➤ Easing of inflationary pressures
Robust acquisition pipeline
Looking Ahead to 2023: well-positioned for double-digit
revenue growth with visibility from:
➤ Pricing => Continued acceleration of solid waste pricing
in 2H '22 and lagging benefit from CPI-linked markets
➤ Acquisitions => ~3% rollover contribution from 2022
acquisitions signed or closed YTD
Adjusted Free Cash Flow: $1.160 billion, up $10mm from
original outlook => up ~15% year over year
*2022e reflects August 2022 Outlook.
**
*see appendix for non-GAAP reconciliation tables.
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