Welcome to our dedicated page for Republic Services news (Ticker: RSG), a resource for investors and traders seeking the latest updates and insights on Republic Services stock.
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.
On October 22, 2020, Republic Services announced a $1 million grant to nine local affiliates of Rebuilding Together to aid small businesses affected by the COVID-19 pandemic. This funding, part of the Committed to Serve initiative, aims to support critical community projects, including renovations for minority-owned businesses. Grants range from $50,000 to $125,000 and will enhance local economies. The initiative also includes a total of $20 million devoted to community support and sustainability efforts.
On September 29, 2020, Republic Services (NYSE: RSG) announced its employees' recognition by the National Waste & Recycling Association (NWRA). Tommy Garcia, Tim Fields, and Ronald 'Keith' Dunn were honored as National Commercial Driver of the Year, National Industrial Driver of the Year, and Operator of the Year, respectively. Republic drivers have won 70% of Driver of the Year awards since 2009. The company emphasizes safety, with nearly 15,000 employees earning the Dedicated to Safety Award last year.
Republic Services, Inc. (RSG) will announce its third quarter 2020 financial results on November 5, 2020, post-market close. Following this, an investor conference call is scheduled for 5 p.m. ET. Interested parties can access the live audio webcast through the Company’s Investor Relations page or by dialing the provided numbers with passcode 'Republic Services'. A replay will be available until November 12, 2020, through specific dialing options. Republic Services is a leader in U.S. recycling and non-hazardous waste disposal, committed to sustainability.
Republic Services has been recognized as the 2020 Organics Recycler of the Year by the National Waste & Recycling Association for its innovative contributions to recycling. The award highlights Republic's leadership in diverting food and yard waste from landfills, emphasizing its commitment to sustainability and the circular economy.
In 2019, Republic processed 1.7 billion pounds of organic waste, producing 275,000 tons of compost. With 11 compost facilities in five states, Republic aims to increase material recovery by 40% by 2030.
Republic Services has successfully closed a $650 million offering of 1.450% senior notes, due February 2031. The proceeds will finance the redemption of its 5.250% senior notes maturing in November 2021, which is set for September 10, 2020. This move is expected to save the company approximately $20 million in cash interest annually, benefiting from favorable market conditions and its strong credit rating. The new notes are unsecured and will have interest payments starting February 15, 2021.
Republic Services reported a net income of $225.5 million ($0.71 per diluted share) for Q2 2020, down from $251.5 million ($0.78 per diluted share) in Q2 2019. Adjusted net income stood at $258.2 million ($0.81 per diluted share), up from $254.1 million ($0.79 per diluted share) year-over-year. The company achieved a 17.4% increase in year-to-date operating cash flows, totaling $1.334 billion. With adjusted free cash flow guidance set at $1.1 billion to $1.175 billion for 2020, Republic continues to invest in acquisitions and raise dividends, reflecting strong cash flow confidence.
Republic Services, Inc. (NYSE: RSG) has appointed Michael A. Duffy to its Board of Directors, expanding the board to 11 members. Duffy, CEO of C&S Wholesale Grocers, brings extensive experience in supply chain management and corporate strategy. His previous roles include division president at Cardinal Health and vice president at Gillette and P&G. CEO Donald W. Slager highlighted Duffy's leadership skills and customer-focused approach as valuable to the company’s growth strategy. Republic Services is a leader in recycling and waste disposal, striving for sustainable solutions.
Republic Services has announced a 5% increase in its quarterly dividend, now set at $0.425 per share, to be paid on October 15, 2020, for shareholders of record by October 1, 2020. This increase reflects the company’s strong cash flow and long-standing commitment to return value to shareholders, having increased the annual dividend for 16 consecutive years. CEO Donald W. Slager emphasized the company's sound capital allocation practices and business resilience.
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