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REPUBLIC SERVICES (RSG)

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Earnings summaries and quarterly performance for REPUBLIC SERVICES.

Research analysts who have asked questions during REPUBLIC SERVICES earnings calls.

Noah Kaye

Noah Kaye

Oppenheimer & Co. Inc.

7 questions for RSG

Also covers: AAON, AMRC, BWA +16 more
Bryan Burgmeier

Bryan Burgmeier

Citigroup Inc.

6 questions for RSG

Also covers: AMBP, AVY, CLH +6 more
Tobey Sommer

Tobey Sommer

Truist Securities, Inc.

6 questions for RSG

Also covers: AMN, AMTM, ASGN +26 more
Trevor Romeo

Trevor Romeo

William Blair

6 questions for RSG

Also covers: AMN, ASGN, CCRN +9 more
David Manthey

David Manthey

Robert W. Baird & Co. Incorporated

5 questions for RSG

Also covers: AIT, BECN, BLDR +13 more
JR

Jerry Revich

Goldman Sachs Group Inc.

5 questions for RSG

Also covers: AGCO, ALSN, ATMU +28 more
KC

Kevin Chiang

CIBC Capital Markets

5 questions for RSG

Also covers: CAE, CNI, CP +5 more
Sabahat Khan

Sabahat Khan

RBC Capital Markets

5 questions for RSG

Also covers: ACM, ATS, DE +10 more
Stephanie Moore

Stephanie Moore

Jefferies

5 questions for RSG

Also covers: APG, ARCB, ARMK +30 more
JS

James Schumm

TD Cowen

4 questions for RSG

Also covers: CLH, CWST, GFL +5 more
KG

Konark Gupta

Scotiabank

4 questions for RSG

Also covers: CAE, CNI, CP +4 more
TK

Toni Kaplan

Morgan Stanley

4 questions for RSG

Also covers: ADT, ARMK, BFAM +18 more
Faiza Alwy

Faiza Alwy

Deutsche Bank

3 questions for RSG

Also covers: ABM, ADV, ARMK +18 more
Tyler Brown

Tyler Brown

Raymond James Financial, Inc.

3 questions for RSG

Also covers: CLH, CWST, MLM +7 more
AB

Adam Bubis

Goldman Sachs Group, Inc.

2 questions for RSG

Also covers: GVA
BB

Brian Butler

Stifel, Nicolaus & Company, Incorporated

2 questions for RSG

Also covers: CLH, CWST, GEF +8 more
PB

Patrick Brown

Raymond James

2 questions for RSG

Also covers: BLX, CLH, CWST +8 more
Rob Wertheimer

Rob Wertheimer

Melius Research LLC

2 questions for RSG

Also covers: ALSN, AME, CAT +13 more
SW

Seth Weber

Wells Fargo

2 questions for RSG

Also covers: ECL, HEES, WCN +1 more
SR

Shlomo Rosenbaum

Stifel, Nicolaus & Company, Incorporated

2 questions for RSG

Also covers: ARMK, CCC, CCCS +19 more
TZ

Tami Zakaria

JPMorgan Chase & Co.

2 questions for RSG

Also covers: ADM, AGCO, ALSN +24 more
Tony Bancroft

Tony Bancroft

Gabelli Funds

2 questions for RSG

Also covers: CR, CW, CWST +4 more
Yehuda Silverman

Yehuda Silverman

Morgan Stanley

2 questions for RSG

Also covers: ADT, ARMK, BV +4 more
DD

Devin Dodge

BMO Capital Markets Corp.

1 question for RSG

Also covers: BBU, BIP, GFL +2 more
HA

Harold Antor

Jefferies Financial Group Inc.

1 question for RSG

Also covers: APG, ARMK, BFAM +9 more
JT

John Trevor Romeo

William Blair & Company L.L.C.

1 question for RSG

Michael Feniger

Michael Feniger

Bank of America

1 question for RSG

Also covers: ACM, AGCO, CAT +13 more
PT

Patrick Tyler Brown

Raymond James & Associates Inc.

1 question for RSG

Also covers: GFL
SL

Stephanie Lynn Benjamin Moore

Jefferies LLC

1 question for RSG

Also covers: GFL
Tobey O'Brien Sommer

Tobey O'Brien Sommer

Truist Securities

1 question for RSG

Also covers: KFY

Recent press releases and 8-K filings for RSG.

Republic Services reports Q4 2025 results
RSG
Earnings
Guidance Update
M&A
  • Republic Services delivered 3.5% revenue growth, 7% adjusted EBITDA growth, adjusted EPS of $7.02, and $2.43 billion of adjusted free cash flow (45.8% conversion) in 2025.
  • In Q4, organic volume reduced total revenue by 1% and related revenue by 1.2%, while core price rose 5.8% on total revenue and 7.1% on related revenue.
  • Adjusted EBITDA margin expanded 90 bps to 32.0% for the full year and was 31.3% in Q4.
  • 2026 guidance calls for revenue of $17.05–17.15 billion, Adj. EBITDA of $5.475–5.525 billion, Adj. EPS of $7.20–7.28, and FCF of $2.52–2.56 billion.
  • The company invested $1.1 billion in acquisitions and returned $1.6 billion to shareholders in 2025 (incl. $854 million of buybacks) and expects ~$1 billion of acquisitions in 2026, with $400 million deployed to date.
Feb 17, 2026, 10:00 PM
Republic Services reports Q4 2025 results
RSG
Earnings
Guidance Update
M&A
  • 2025 financial performance: Revenue up 3.5%, adjusted EBITDA +7% (adj. EBITDA margin +90 bp to 32%), adjusted EPS $7.02, and adjusted free cash flow $2.43 B with conversion at 45.8%.
  • Q4 2025 dynamics: Organic pricing drove 3.7% yield on total revenue and 4.5% on related revenue; volumes declined 1%, and Environmental Solutions organic revenue fell 2% largely due to a non-recurring emergency response project.
  • 2026 outlook: Guided revenue $17.05 B–$17.15 B, adjusted EBITDA $5.475 B–$5.525 B, EPS $7.20–$7.28, and free cash flow $2.52 B–$2.56 B, implying mid-point growth of ~3–4% across key metrics (ex-wildfire/hurricane comps ~4% top-line).
  • Sustainability & digital: Commenced commercial production at a new Polymer Center and Blue Polymers facility; nine RNG projects online in 2025 (four more in 2026); 180+ EV trucks and 32 charging sites, with 150 additional EV trucks planned.
  • Capital allocation: Invested $1.1 B in acquisitions in 2025, returned $1.6 B to shareholders (including $854 M of buybacks); $400 M of acquisitions closed YTD contributing ~70 bp to growth, with $1 B planned for 2026.
Feb 17, 2026, 10:00 PM
Republic Services reports Q4 2025 earnings and 2026 guidance
RSG
Earnings
Guidance Update
New Projects/Investments
  • 2025 results: Revenue grew 3.5%, adjusted EBITDA rose nearly 7%, margin expanded 90 bps to 32%, adjusted EPS was $7.02, and free cash flow reached $2.43 B with a 45.8% conversion.
  • 4Q25 drivers: Average yield on total revenue was 3.7% (related revenue 4.5%); organic volume declined 1% (total) and 1.2% (related) due to end-market softness and residential contract shedding.
  • 2026 guidance: Revenue of $17.05 B–$17.15 B, adjusted EBITDA of $5.475 B–$5.525 B, adjusted EPS of $7.20–$7.28, and free cash flow of $2.52 B–$2.56 B.
  • Sustainability & technology: Began commercial production at Indianapolis Polymer Center and co-located Blue Polymers, brought 9 RNG projects online (4 more in 2026), and ended 2025 with 180 electric collection vehicles and 32 charging facilities.
  • Capital allocation: Invested $1.1 B in acquisitions, returned $1.6 B to shareholders (including $854 M of buybacks), with a robust M&A pipeline supporting $1 B planned 2026 investments.
Feb 17, 2026, 10:00 PM
Republic Services reports Q4 and full-year 2025 results and 2026 outlook
RSG
Earnings
Guidance Update
Dividends
  • Q4 2025 EPS of $1.76 (up 8.0% YoY) on net income of $545 million (13.2% margin) and expanded adjusted EBITDA margin by 30 bps.
  • Full-year 2025 net income of $2.14 billion, EPS of $6.85 (up 5.5% YoY), and generated $2.43 billion in adjusted free cash flow (up 11.5%).
  • Declared a regular quarterly dividend of $0.625 per share for shareholders of record April 2, 2026.
  • 2026 guidance: revenue $17.05–17.15 billion, adjusted EBITDA $5.475–5.525 billion, adjusted EPS $7.20–7.28, and adjusted free cash flow $2.52–2.56 billion .
Feb 17, 2026, 9:10 PM
Republic Services reports Q4 and FY 2025 results
RSG
Earnings
Guidance Update
Share Buyback
  • Republic Services delivered Q4 2025 net income of $545 million ($(1.76) per diluted share), up from $512 million ($1.63), with adjusted EBITDA of $1.30 billion and a 31.3% margin.
  • For full-year 2025, net income was $2.14 billion ($6.85 per diluted share), adjusted EPS of $7.02, and adjusted EBITDA of $5.31 billion at a 32.0% margin.
  • The company generated $4.30 billion of operating cash flow and $2.43 billion of adjusted free cash flow, investing $1.1 billion in acquisitions and returning $1.6 billion to shareholders via $854 million of share repurchases and $738 million of dividends.
  • 2026 guidance includes revenue of $17.05–17.15 billion, adjusted EBITDA of $5.475–5.525 billion, adjusted EPS of $7.20–7.28, and adjusted free cash flow of $2.52–2.56 billion.
Feb 17, 2026, 9:06 PM
Republic Services reports Q3 2025 results
RSG
Earnings
Share Buyback
New Projects/Investments
  • Delivered 3.3% revenue growth, 6.1% adjusted EBITDA growth, 80 bp margin expansion, $1.90 adjusted EPS, and $2.19 B YTD adjusted free cash flow on persistent construction and manufacturing headwinds.
  • Organic revenue aided by strong pricing: 4.0% average yield on total revenue and 4.9% on related revenue, partially offset by 30 bp volume decline on total revenue and 40 bp on related revenue.
  • Environmental Solutions segment weighed on results with a 140 bp revenue headwind, driven by softer manufacturing and event-driven volumes, but demand stabilized exiting the quarter.
  • Advanced sustainability: commercial production began at Indianapolis polymer center; six RNG projects commenced in 2025 with a seventh expected; fleet electrification reached 137 EVs with >150 targeted by year-end.
  • Year-to-date invested >$1 B in acquisitions and returned $1.13 B to shareholders via dividends and share repurchases.
Oct 30, 2025, 9:00 PM
Republic Services reports Q3 2025 results
RSG
Earnings
Dividends
Share Buyback
  • Republic Services reported Q3 2025 net income of $550 million ($1.76 EPS) and adjusted EPS of $1.90, with a 13.1% net income margin.
  • Q3 revenue was $4.212 billion, up 3.3% year-over-year (1.7% organic, 1.6% from acquisitions).
  • Adjusted EBITDA reached $1.383 billion with a 32.8% margin, an 80 bps improvement versus Q3 2024.
  • Year-to-date cash flow from operations was $3.32 billion, and adjusted free cash flow was $2.19 billion.
  • The Board declared a $0.625 quarterly dividend per share (payable January 15, 2026) and repurchased $539 million of stock in Q3, leaving approximately $1.9 billion of buyback capacity.
Oct 30, 2025, 8:10 PM
Republic Services reports Q3 2025 results
RSG
Earnings
Dividends
Guidance Update
  • Recorded EPS of $1.76 and adjusted EPS of $1.90, with net income of $550 million and adjusted EBITDA of $1.38 billion at a 32.8% margin (+80 bps)
  • Achieved 3.3% total revenue growth (1.7% organic; 1.6% acquisitions), driven by a 5.9% core price increase and 4.0% average yield, offset by a 0.3% volume decline
  • Generated $3.32 billion YTD cash from operations and $2.19 billion of adjusted free cash flow, while investing over $1 billion in acquisitions YTD
  • Declared a $0.625 per share quarterly dividend, payable January 15, 2026
  • Expects 2025 revenue near the low end of its guidance range and reiterates all other financial components
Oct 30, 2025, 8:10 PM
Republic Services’ rPET flake reduces carbon footprint by 54%
RSG
Product Launch
  • A cradle-to-gate study of rPET flake produced at the Las Vegas Polymer Center (first seven months of 2024) shows a 54% lower global warming potential versus representative rPET alternatives and 82% lower versus virgin PET in the U.S. market.
  • The Las Vegas facility uses a patented, energy-efficient equipment line and benefits from a lower-carbon regional utility grid, reducing electricity and thermal energy per kilogram of flake.
  • Republic Services operates two Polymer Centers (Las Vegas and Indianapolis) with a third under construction in Allentown, PA; each center will have capacity to produce 120 million pounds of bottle-grade recycled plastics annually.
  • The bottle-grade rPET enables true bottle-to-bottle circularity and helps customers decarbonize their supply chains, reducing Scope 3 emissions.
Sep 30, 2025, 1:04 PM
Republic Services reports Q2 2025 results
RSG
Earnings
Guidance Update
New Projects/Investments
  • In Q2, revenue grew 4.6%, adjusted EBITDA rose 8% to a 32.1% margin, adjusted EPS was $1.77, and YTD adjusted free cash flow reached $1.42 B.
  • Updated 2025 guidance: revenue $16.675–$16.75 B, adjusted EBITDA $5.275–$5.325 B, adjusted EPS $6.82–$6.90, and free cash flow $2.375–$2.415 B.
  • YTD capital allocation included $900 M in acquisitions (pipeline > $1 B) and $400 M returned to shareholders via dividends and buybacks; dividend increased for the 22nd consecutive year.
  • Sustainability and operations: Indianapolis Polymer Center commenced commercial production in July; six RNG projects online (seven expected in 2025); fleet electrification at 114 EVs, targeting > 150 by year-end.
  • Environmental Solutions faced volume headwinds from sluggish construction/manufacturing, with Q2 revenue down $11 M and EBITDA margin stable at 23.7%.
Jul 29, 2025, 11:45 PM