Trash management firm Republic Services misses revenue estimates on lower volumes

Reuters10-31

Trash management firm Republic Services misses revenue estimates on lower volumes

Oct 30 (Reuters) - Garbage management firm Republic Services RSG.N missed analysts' estimates for third-quarter revenue on Thursday, weighed down by weak volumes, sending its shares down 3% in extended trading.

Volumes from its residential waste collection business fell 2.4% in the quarter from a year earlier.

The company's total revenue for the third quarter came at $4.21 billion, compared with analysts estimates of $4.25 billion, according to data compiled by LSEG.

Earlier this week, peer Waste Management WM.N also missed Wall Street estimates for third quarter profit and revenue estimates on weak pricing and slow growth in its healthcare waste collection business.

Republic Services also said that it expects revenue to be near the low end of its full-year forecast range of $16.67 billion to $16.75 billion.

The Arizona-based company posted an adjusted profit of $1.90 per share for the quarter ended September 30, ahead of analysts' average expectation of $1.78 per share.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by Maju Samuel)

((Anshuman.Tripathy@thomsonreuters.com;))

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