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Republic Services, Inc. (NYSE: RSG) is a premier provider of environmental services in the United States, specializing in waste collection, recycling, and disposal services. Through its network of subsidiaries, Republic Services operates approximately 207 active landfills and 246 transfer stations, serving about 14 million customers across commercial, industrial, municipal, and residential sectors. The company has built a reputation for reliability and environmental stewardship, focused on delivering effective waste management solutions that drive sustainability.
Headquartered in Phoenix, Republic Services is dedicated to making a positive environmental impact. Its operations include a significant recycling segment that processes a substantial portion of North America's recyclable materials. The company’s tagline, “We’ll handle it from here™”, underscores its commitment to providing an effortless and reliable experience for its customers.
Republic Services is at the forefront of the industry with its innovative projects aimed at minimizing environmental footprint. Notably, the company has recently reported strong financial performance, including double-digit growth in EBITDA and net income. For the fiscal quarter ending June 30, 2023, Republic Services reported net income of $427.4 million, showing a significant increase from $371.9 million for the same period in 2022. This performance reflects the company's strategic pricing, cost management, and organic growth efforts.
One of the company's significant achievements includes its partnership with EVENSOL LLC in developing two renewable natural gas (RNG) facilities in North Carolina. These projects convert landfill gas into RNG, supporting Republic Services' long-term sustainability goal to beneficially reuse 50% more biogas by 2030. Additionally, the company has a strong commitment to decarbonizing operations and advancing circularity.
Republic Services also actively engages in shareholder value creation through consistent dividend payouts and share repurchase programs. The company announced a 4.0-cent increase in its quarterly dividend, reflecting confidence in its robust financial health and future prospects.
Financially, the company continues to deliver strong results and forward-looking guidance. For the third quarter of 2023, Republic Services posted a net income of $480.2 million, reflecting its ongoing strategic growth initiatives. With a solid track record, the company remains well-positioned to meet its year-end financial targets and continue its trajectory of profitable growth through 2024 and beyond.
Republic Services' vision is to partner with customers to create a sustainable world, driven by its industry-leading commitments to reduce emissions and enhance sustainability. The company’s broad-based revenue growth, strategic acquisitions, and focused investments in digital and sustainable innovations underscore its promise to deliver superior products and services to its diverse client base.
Republic Services (NYSE: RSG) has launched the first-ever diesel technician training program at its Technical Institute in Dallas. This 12-week program, developed in partnership with Lincoln Tech and the U.S. Department of Labor, aims to tackle the national diesel technician shortage. Students receive full compensation and training in a state-of-the-art facility. Graduates will transition to full-time technician roles within the company across 45 states, benefitting from competitive salaries and comprehensive benefits. The initiative emphasizes inclusivity, targeting veterans, recent high school graduates, and individuals from underserved areas.
Republic Services, Inc. (NYSE: RSG) has scheduled the release of its third quarter 2021 financial results for October 28, 2021, after market close. Following the results, the company will host an investor conference call at 5 p.m. ET, accessible via the Company’s Investor Relations webpage or by phone at 844-890-1789. Pre-registration is encouraged for those dialing in. A replay of the call will be available until November 4, 2021. Republic Services is committed to sustainability and aims to enhance the customer experience while promoting a healthier planet.
Republic Services (RSG) has achieved certification as a Great Place to Work for the fifth consecutive year and has been recognized by PEOPLE magazine as one of the 2021 Companies that Care. With 80% of employees rating the company positively, Republic emphasizes employee engagement and an inclusive culture. The Great Place to Work certification is awarded to fewer than 1,000 U.S. companies, reflecting a commitment to workplace quality. The company has also invested nearly $35 million in community initiatives during the COVID-19 pandemic, supporting employees and local businesses.
Raven SR Inc. has partnered with Republic Services (NYSE: RSG) to convert organic waste into green hydrogen at a site in Richmond, California. This collaboration aims to process up to 99.9 tons of organic waste daily, producing up to 2,000 metric tons of renewable hydrogen annually. The initiative aligns with California's emission reduction goals and emphasizes sustainability. Raven SR utilizes its patented non-combustion Steam/CO2 Reformation process, differentiating itself from traditional waste-to-energy methods.
Republic Services reported a net income of $331.1 million for Q2 2021, a significant increase from $225.5 million in Q2 2020. Adjusted EPS rose to $1.09, up 36% year-over-year. Revenue grew 15% driven by an 8.1% volume increase and a 5.2% rise in core pricing. Year-to-date cash from operations reached $1.5 billion. The company has raised its full-year EPS guidance to $4.00 to $4.05 and free cash flow guidance to $1.45 billion to $1.475 billion, reflecting strong business momentum and operational success.
Republic Services announced an 8% increase in its quarterly dividend, raising it from $0.425 to $0.46 per share. This dividend will be paid on October 15, 2021, to shareholders of record on October 1, 2021. This marks the seventeenth consecutive year of dividend increases, highlighting the company's commitment to returning cash to shareholders.
Republic Services (NYSE: RSG) released its annual sustainability report, noting a 5% reduction in operational greenhouse gas emissions and improved recycling of materials. The report highlights a 21% drop in safety incidents, strong employee engagement at 85%, and commitment to fleet electrification with an electric truck pilot. The firm also contributed $5 million to community revitalization. Recognized on various sustainability indices, Republic aims for substantial progress toward its 2030 goals.
On July 14, 2021, Republic Services (NYSE: RSG) achieved a historic milestone by winning all National Waste & Recycling Association Driver of the Year and Operator of the Year awards. Four employees were recognized for their exemplary service, emphasizing the company's commitment to safety and customer satisfaction. James Davis was named National Residential Driver of the Year, Dedra McKinley as National Commercial Driver of the Year, Tony Forrest as National Industrial Driver of the Year, and Victoria Barragan as Operator of the Year, marking her as the first woman to receive this honor.
Republic Services, Inc. (NYSE: RSG) announced it will release its Q2 2021 financial results on July 29, 2021, after market close. The company will host an investor conference call at 5 p.m. ET on the same day, accessible via their Investor Relations website or through designated phone numbers. Pre-registration is encouraged for dial-in participants. A replay of the call will be available until August 5, 2021. Republic Services is a leading player in the U.S. environmental services sector, committed to sustainability.
Republic Services (NYSE: RSG) has been recognized in 3BL Media's 100 Best Corporate Citizens of 2021 for outstanding environmental, social, and governance (ESG) performance. This marks the second consecutive year the company has received this honor. The ranking evaluates 1,000 large U.S. companies based on 146 ESG indicators. CEO Don Slager emphasized the importance of sustainability and ethics in their business strategy. Additionally, the company launched a $30 million initiative, Committed to Serve, supporting communities and employees, while continuing to progress toward its 2030 sustainability goals.
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