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 February 27, 2023, Republic Services (NYSE: RSG) announced the winners of the 2023 ROAD-EO National Championship, showcasing top drivers and technicians in the environmental services field. The event took place on February 21 at Wild Horse Pass Motorsports Park in Phoenix, Arizona, with 93 competitors from 30 states and one Canadian province. Winners in various categories included CJ Hines in Residential Rear-Load and David Muns in Bulldozer, each receiving prizes up to $5,000 and additional paid time off. The competition highlights Republic's commitment to safety, boasting a safety performance nearly 40% better than the industry average.
Republic Services (NYSE: RSG) announced plans to enhance its electric truck fleet in a deal with Oshkosh Corporation, with expectations that electric vehicles (EVs) will make up half of new truck purchases by 2028. The company will begin operating two electric recycling and waste truck prototypes in Phoenix this fall, expanding further in 2024 to Santa Ana, Carlsbad, and Portland. Republic, operating a fleet of 17,000 trucks, aims to reduce Scope 1 and 2 greenhouse gas emissions by 35% by 2030 and has the industry's largest commitment to fleet electrification.
Republic Services reported a 20% total revenue growth in Q4 2022, with approximately 11% growth from acquisitions. Net income for Q4 reached $346.8 million, resulting in an EPS of $1.09, a 11.2% increase year-over-year. The company generated $3.19 billion in cash flow from operations and invested $2.7 billion in acquisitions, returning $796 million to shareholders. Full-year net income was $1.49 billion, translating to $4.69 EPS, exceeding guidance by 15% in adjusted free cash flow and 18% in adjusted EPS. The company maintains a strong position for growth in 2023.
Republic Services (NYSE: RSG) organized a multi-city volunteer campaign in honor of Martin Luther King Jr. Day, aiming to strengthen community support. Events took place in Chicago, Detroit, and Memphis, where company volunteers engaged in various service activities. The Republic Services Charitable Foundation contributed $100,000 in total to partner organizations. Notably, in Detroit, volunteers aided the foster care system, while in Chicago, they collaborated with Rebuilding Together Metro Chicago to revitalize community facilities. Memphis efforts focused on beautification projects and litter cleanup, with additional donations amounting to $70,000 across the three cities.
Republic Services, Inc. (RSG) announced the release date for its fourth quarter 2022 financial results, scheduled for February 15, 2023, after market close. An investor conference call will follow at 5 p.m. ET. Participants can join via the Company’s Investor Relations page or by phone. Pre-registration is encouraged for immediate access. The replay will be available until February 22, 2023. Republic Services is a leader in environmental services, focusing on sustainability and reducing emissions. More details can be found on RepublicServices.com.
Republic Services (NYSE: RSG) highlights consumer misconceptions about plastics recycling ahead of America Recycles Day on November 15. A recent survey of over 2,000 U.S. consumers revealed that 61% mistakenly believe flexible plastics are recyclable. While 64% claim to understand recycling, actual recycling rates for common items like water bottles (62%) and milk jugs (51%) remain suboptimal. The company aims to educate consumers on proper recycling practices, underscoring the increasing demand for high-quality recycled plastics as brands set ambitious recycling targets.
Republic Services reported a strong third quarter with total revenue growth of 23%, including 12% from acquisitions. The company's net income reached $416.9 million, or $1.32 per share, up from $350.3 million in Q3 2021. Adjusted EPS increased by 20% to $1.34. Year-to-date cash flow from operations was $2,383 million, with adjusted free cash flow at $1,665 million. Despite a drop in average recycled commodity prices, Republic plans to continue investing in growth opportunities.
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