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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.
Archaea Energy Inc. (NYSE: LFG) reported preliminary Q1 2022 results, posting revenues of $56.9 million and a net loss of $33.2 million. The company increased its estimated long-term annual earnings power by 50% to approximately $600 million, attributed to adding 53 RNG development projects to its backlog. Key strategic moves include the $215 million acquisition of INGENCO, adding 14 LFGTE plants, and a landmark joint venture with Republic Services (NYSE: RSG) to invest $1.1 billion in developing 39 RNG facilities.
Republic Services (RSG) reported a strong start to 2022, with first-quarter total revenue growth of 14%. Net income reached $352 million, translating to $1.11 per diluted share, an increase from $295.9 million or $0.93 per share last year. Adjusted EPS was $1.14, a 23% rise year-over-year. Cash flow from operations totaled $705.6 million, while adjusted free cash flow increased 14.4% to $530.9 million. Additionally, the company was named to Barron's 100 Most Sustainable Companies List for 2022.
Republic Services and Archaea Energy have formed a joint venture to develop 39 renewable natural gas (RNG) projects nationwide, creating the largest RNG portfolio in the U.S. The $1.1 billion investment includes $800 million from Archaea and $300 million from Republic. The initiative, which aims to convert landfill gas into pipeline-quality RNG, supports Republic's sustainability goal of reusing 50% more biogas by 2030. Construction is set to begin in late 2022, with completion expected by 2027.
Republic Services completed the acquisition of US Ecology on May 2, 2022, for $2.2 billion, including debt. The deal, priced at $48 per share, is expected to generate $75 million to $100 million in cross-selling revenue opportunities and $40 million in cost synergies within three years. This acquisition aims to enhance Republic's environmental solutions across the U.S. and Canada, providing a more integrated service portfolio for customers. Republic plans to maintain a strong balance sheet, returning net debt-to-EBITDA below 3x in 18 months.
Republic Services (RSG) has announced a $2 million sponsorship for the revitalization of Margaret T. Hance Park in Phoenix, enhancing local community space and supporting sustainability efforts. The project includes the Republic Services Garden, a one-acre area featuring native desert plants and low water usage gardening techniques. Construction is underway, aiming for completion by February 2023, coinciding with Super Bowl LVII. This investment is part of the company's broader sustainability goals, having positively impacted nearly 6 million people since 2018.
Republic Services, Inc. (NYSE: RSG) will announce its first quarter 2022 financial results on May 5, 2022, following the market closure. An investor conference call is scheduled for 5 p.m. ET. Participants can access the live audio webcast on the Company's Investor Relations page or join by phone at 1-844-890-1789 (International: 412-717-9598) with the passcode "Republic Services." A replay will be available shortly after the call and until May 12, 2022.
Republic Services (NYSE: RSG) and US Ecology (NASDAQ-GS: ECOL) announced the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period for their proposed acquisition on March 30, 2022. With the waiting period concluded, the transaction is expected to close in the second quarter of 2022, pending US Ecology's stockholder approval and fulfillment of remaining closing conditions. This acquisition signifies Republic Services' commitment to expanding its environmental services footprint and enhancing its service offerings.
On March 1, 2022, Republic Services (NYSE: RSG) announced plans for the first integrated plastics recycling facility in the U.S., aimed at addressing the growing demand for recycled plastic from consumer brands. The Polymer Center will allow Republic to manage the entire plastics recycling process, producing over 100 million pounds of recycled plastic annually for food-grade packaging. Set to open in Las Vegas in 2023, this facility supports sustainability goals by increasing the recovery and circularity of materials. Republic is well-positioned to aid brands in meeting their recycled content targets, reflecting its leadership in environmental services.
Republic Services reported a net income of $313.1 million ($0.98 per diluted share) for Q4 2021, up from $235.5 million ($0.74) in Q4 2020. Adjusted Q4 net income was $325.5 million ($1.02 per diluted share). For the entire year, net income reached $1,290.4 million ($4.04 per share), compared to $967.2 million ($3.02) in 2020. Republic invested over $1 billion in acquisitions and returned $800 million to shareholders. Adjusted free cash flow increased by 23% to $1.52 billion. The company also received a rating upgrade in ESG metrics.
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