REPUBLIC SERVICES (RSG) Company Report

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

Transcript

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

8-K

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

Press Release

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

Press Release

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

Republic Services increases quarterly dividend

RSG

Dividends

On July 23, 2025, the Board approved a 4.5-cent increase in the regular quarterly dividend.
The new dividend of $0.625 per share is payable October 15, 2025, to shareholders of record on October 2, 2025.
This marks the 22nd consecutive year of annual dividend increases, underscoring the company’s commitment to return cash to shareholders.

Jul 24, 2025, 12:00 AM

8-K

Republic Services Q1 2025 Results: Strong Financial & Operational Performance

RSG

Earnings

M&A

New Projects/Investments

Dividends

Reported net income of $495 million, EPS of $1.58 (up from $1.44) on $4,009 million in revenue, reflecting a 9.7% EPS increase .
Expanded adjusted EBITDA margin by 140 basis points to 31.6% with adjusted EBITDA reaching $1.27 billion .
Achieved moderate revenue growth around 3.8%-4%, driven by 2.9% organic growth and 0.9% from acquisitions .
Generated $1,025 million in operating cash flow and $727 million in adjusted free cash flow, investing over $800 million in acquisitions .
Executed strategic investments including the $826 million acquisition of Shamrock Environmental and advanced sustainability initiatives (Polymer Centers, RNG projects, fleet electrification) with recognized performance .
Declared a quarterly dividend of $0.58 per share and returned $226 million to shareholders, maintaining robust liquidity with total debt at $13.4 billion and liquidity of $2.6 billion .
Management emphasized disciplined pricing strategies to counter volume softness and inflation, supporting margin expansion .

Apr 24, 2025, 9:01 PM

Transcript Press Release 8-K

Republic Services Special Conference Call Overview

RSG

M&A

New Projects/Investments

Demand Weakening

Republic Services discussed its strategic expansion into Environmental Solutions through key acquisitions, including the US Ecology business, which drove EBITDA margin expansion and operational improvements.
The executives highlighted the strength of their scheduled service model and pricing power, noting targeted price increases to exceed cost inflation and enhance margins.
Sustainability initiatives were emphasized with updates on the rollout of new polymer centers that will support circularity and add value to recycled materials, with additional centers planned for the future.

Apr 3, 2025, 12:31 PM

Transcript

Republic Services Announces Debt Issuance of 4.75% and 5.15% Notes

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Debt Issuance

On March 17, 2025, Republic Services agreed to sell $500,000,000 4.75% Notes due 2030 and $700,000,000 5.15% Notes due 2035, with the offering expected to close around March 24, 2025.
The note issuance will be executed under the terms of the 2009 Indenture, supplemented by the Sixteenth Supplemental Indenture, ensuring the obligations are legally binding and enforceable.
The offering is underwritten by representatives from BofA Securities, Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC, with a legal opinion provided by Covington & Burling LLP.

Mar 18, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for REPUBLIC SERVICES.