Republic Services Raises Full-Year Revenue Guidance After Higher 3Q Profit, Sales

Dow Jones10-30

Republic Services raised its full-year revenue guidance after posting higher profit and revenue in the third quarter, with growth led by its recycling and waste business.

The recycling and waste services company on Thursday said it now expects revenue between $17.43 billion and $17.48 billion, compared with its previously issued forecast between $17.2 billion and $17.3 billion. Analysts polled by FactSet expect $17.33 billion.

The increased guidance comes after the company posted a profit of $592 million, or $1.93 a share in the third quarter, compared with $550 million, or $1.76 a share, a year earlier.

On an adjusted basis, earnings were $1.94 a share. Analysts polled by FactSet expected $1.93.

Revenue rose to $4.56 billion in the quarter from $4.21 billion. Wall Street analysts were expecting $4.42 billion. Chief Executive Jon Vander Ark said positive growth trends across the business and improved performance in environmental solutions reinforce the company's confidence.

Republic Services said its revenue growth consisted of a 4.8% increase from its recycling and waste business, a 2.1% increase from its environmental solutions business and a 1.3% increase from acquisitions.

Republic Services now expects adjusted earnings before interest, taxes, depreciation and amortization between $5.55 billion and $5.58 billion, up from its previous range of $5.53 billion to $5.55 billion.

The company's board on Wednesday approved a $5 billion share repurchase plan, effective from Jan. 1, 2027 to Dec. 31, 2029.

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