Core Insights - Republic Services, Inc. (RSG) reported mixed second-quarter 2025 results with earnings surpassing estimates while revenues fell short [1][9] - The company’s stock has increased by 22.3% year-to-date, outperforming both its industry and the Zacks S&P 500 Composite [2] Financial Performance - RSG's earnings per share (EPS) for Q2 2025 was $1.77, exceeding the Zacks Consensus Estimate by 1.1% and reflecting a 9.9% increase year-over-year [1][9] - Total revenues for the quarter were $4.2 billion, which missed the consensus estimate but showed a 4.6% year-over-year growth [1][9] Segment Revenue Breakdown - Collection segment revenues reached $2.8 billion, a 3.6% increase from the previous year, but fell short of the estimated $2.9 billion [3] - Environmental Solutions revenues were $462 million, down 2.3% year-over-year, missing the projected $492 million [3] - Transfer segment revenues were $221 million, up 6.3% year-over-year, exceeding expectations of $213.5 million [4] - Landfill segment revenues totaled $516 million, increasing 17.3% year-over-year and surpassing the estimate of $462.7 million [4] - Other segment revenues grew to $214 million, a 4.9% increase from the previous year, exceeding the expectation of $212.7 million [4] Operating Results - Adjusted EBITDA for the quarter was $1.4 billion, an 8.2% increase from the previous year, beating the estimate of $1.3 billion [5][9] - The adjusted EBITDA margin improved to 32.1%, up 100 basis points year-over-year, surpassing the estimated margin of 31.4% [5][9] Balance Sheet & Cash Flow - At the end of Q2 2025, RSG had cash and cash equivalents of $122 million, up from $83 million at the end of Q1 2025 [6] - Long-term debt decreased to $12.5 billion from $12.9 billion in the previous quarter [6] - The company generated $1.1 billion in cash from operating activities, with adjusted free cash flow of $693 million and capital expenditures of $423 million [6] 2025 Guidance - RSG has lowered its revenue guidance for 2025 to a range of $16.68 billion to $16.75 billion, down from the previous range of $16.85 billion to $16.95 billion [8][9] - The adjusted EPS guidance is set at $6.82 to $6.90, with the midpoint lower than the Zacks Consensus Estimate of $6.87 [8] - Adjusted EBITDA guidance is projected to be between $5.28 billion and $5.33 billion [8]

[PART I — FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section provides the unaudited consolidated financial statements, management's discussion and analysis, and disclosures on market risk and internal controls for Republic Services, Inc [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents Republic Services, Inc.'s unaudited consolidated financial statements for Q2 and H1 2025, including balance sheets, income, cash flows, and detailed accounting notes [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements reflect asset growth to $33.4 billion, with Q2 2025 revenue reaching $4.24 billion and H1 operating cash flow increasing to $2.13 billion Consolidated Balance Sheet Summary | | June 30, 2025 (Unaudited) (in millions) | December 31, 2024 (in millions) | | :--- | :--- | :--- | | **Total current assets** | $2,416 | $2,406 | | **Property and equipment, net** | $12,049 | $11,877 | | **Goodwill** | $16,626 | $15,982 | | **Total assets** | **$33,397** | **$32,402** | | **Total current liabilities** | $3,647 | $4,128 | | **Long-term debt, net** | $12,546 | $11,851 | | **Total liabilities** | $20,945 | $20,995 | | **Total stockholders' equity** | $12,052 | $11,407 | | **Total liabilities and stockholders' equity** | **$33,397** | **$32,402** | Consolidated Statements of Income Summary | (in millions, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $4,235 | $4,048 | $8,244 | $7,910 | | **Operating income** | $861 | $814 | $1,665 | $1,547 | | **Net income attributable to Republic Services, Inc.** | $550 | $512 | $1,045 | $965 | | **Diluted earnings per share** | $1.75 | $1.62 | $3.33 | $3.06 | Consolidated Statements of Cash Flows Summary | (in millions) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Cash provided by operating activities** | $2,134 | $1,911 | | **Cash used in investing activities** | $(1,815) | $(1,113) | | **Cash used in financing activities** | $(260) | $(435) | [Notes to Unaudited Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes detail accounting principles, business acquisitions, debt structure, and segment reporting, including the Shamrock acquisition and goodwill allocation - The company operates and reports through three segments: **Group 1** (recycling and waste in the western U.S.), **Group 2** (recycling and waste in the southeastern/mid-western U.S. and Canada), and **Group 3** (environmental solutions across the U.S. and Canada)[24](index=24&type=chunk)[94](index=94&type=chunk) - In February 2025, the company acquired **Shamrock**, a provider of industrial waste and wastewater treatment services, to expand its environmental solutions business[35](index=35&type=chunk) Acquisition Summary | (in millions) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Cash used in acquisitions, net** | $862 | $41 | | **Total Purchase Price** | $873 | $41 | | **Goodwill allocated** | $632 | $16 | | **Other intangible assets allocated** | $110 | $4 | - Total debt carrying value increased to **$12.97 billion** as of June 30, 2025, from **$12.71 billion** at December 31, 2024, with the company issuing **$1.2 billion** in new senior notes in March 2025[58](index=58&type=chunk)[68](index=68&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 and H1 2025 financial results, covering revenue growth, segment performance, cost changes, updated 2025 outlook, liquidity, and capital resources [Overview and Outlook](index=30&type=section&id=Overview%20and%20Outlook) The company provides updated full-year 2025 financial guidance, anticipating revenue between $16.675 billion and $16.750 billion, reflecting strategic growth and potential labor impacts Full-Year 2025 Financial Guidance | Guidance for Year Ending Dec 31, 2025 | Anticipated Range | | :--- | :--- | | **Revenue** | $16.675 billion - $16.750 billion | | **Diluted EPS** | $6.72 - $6.74 | | **Adjusted Diluted EPS** | $6.82 - $6.90 | - Revenue for the first six months of 2025 increased by **4.2%** to **$8.244 billion** compared to the same period in 2024, driven by a **4.3%** increase in average yield and **1.2%** from acquisitions[129](index=129&type=chunk) [Results of Operations](index=33&type=section&id=Results%20of%20Operations) This section analyzes H1 2025 income statement results, noting 4.2% revenue growth, reduced cost of operations to 57.8% of revenue, and an improved operating income margin of 20.2% Revenue Growth Components | Revenue Growth Components (%) | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :--- | :--- | :--- | | **Average yield** | 4.1% | 4.3% | | **Fuel recovery fees** | (0.3%) | (0.4%) | | **Volume** | 0.2% | (0.5%) | | **Acquisitions / divestitures, net** | 1.5% | 1.2% | | **Total Revenue Change** | **4.6%** | **4.2%** | Cost of Operations as Percentage of Revenue | Cost of Operations (% of Revenue) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Labor and related benefits** | 19.9% | 20.0% | | **Maintenance and repairs** | 9.0% | 9.1% | | **Fuel** | 2.7% | 3.0% | | **Total cost of operations** | **57.9%** | **58.8%** | - The national average diesel fuel price per gallon decreased to **$3.56** in Q2 2025 from **$3.86** in Q2 2024, contributing to lower fuel costs[157](index=157&type=chunk) - Interest expense increased in Q2 and H1 2025 primarily due to higher interest rates on fixed-rate debt[162](index=162&type=chunk) [Reportable Segments](index=40&type=section&id=Reportable%20Segments) Reportable segments showed growth in core recycling and waste businesses, with Group 1 and Group 2 Adjusted EBITDA increasing significantly in Q2 2025, while Group 3 saw a slight decrease Adjusted EBITDA by Segment | Adjusted EBITDA (in millions) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Group 1** | $622 | $571 | | **Group 2** | $630 | $575 | | **Group 3** | $109 | $112 | | **Total Adjusted EBITDA** | **$1,361** | **$1,258** | - **Group 1's** performance was boosted by increased average yield and higher special waste volumes from wildfire remediation in the Los Angeles area[175](index=175&type=chunk) - **Group 2's** growth was driven by higher average yield and increased landfill volumes, including construction and demolition waste from Hurricane Helene recovery efforts[179](index=179&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity, with H1 2025 operating cash flow increasing to $2.13 billion, supporting capital expenditures and acquisitions, and $2.7 billion available under its credit facility Summary of Cash Flows | (in millions) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Cash Provided by Operating Activities** | $2,134 | $1,911 | | **Capital Expenditures** | $(866) | $(918) | | **Cash used in acquisitions and investments** | $(963) | $(201) | | **Dividends paid** | $(362) | $(337) | | **Purchases of common stock for treasury** | $(59) | $(168) | - The company expects to invest at least **$1 billion** in acquisitions in 2025[188](index=188&type=chunk) - As of June 30, 2025, the company had **$2.7 billion** of availability under its **$3.5 billion** Credit Facility[202](index=202&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines the company's market risk exposure to fuel prices, recycled commodity prices, and interest rates, with sensitivity analyses indicating potential impacts on costs and income - A **twenty-cent** per gallon change in the price of diesel fuel would change annual fuel costs by approximately **$27 million**, which would be more than offset by an estimated **$38 million** change in fuel recovery fees[220](index=220&type=chunk) - A **$10** per ton change in the price of recycled commodities would change both annual revenue and operating income by approximately **$11 million**[224](index=224&type=chunk) - A **100 basis point** change in interest rates on the company's **$1.674 billion** of floating-rate debt would change annualized interest expense by approximately **$17 million**[226](index=226&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2025[227](index=227&type=chunk) - The assessment of internal control over financial reporting as of June 30, 2025, **did not include the recently acquired Shamrock business**, which was acquired in February 2025[229](index=229&type=chunk) [PART II — OTHER INFORMATION](index=48&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section provides additional information including legal proceedings, risk factors, equity security purchases, and other disclosures [Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) The company reports legal proceedings with an aggregate accrual of approximately $16 million as of June 30, 2025, with no expected material adverse impact - As of June 30, 2025, the company has recorded an aggregate accrual of approximately **$16 million** for outstanding legal proceedings[233](index=233&type=chunk) - If the high end of the estimated loss ranges were used, the aggregate potential liability would be approximately **$7 million** higher than the amount recorded[233](index=233&type=chunk) [Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - There have been **no material changes** to the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024[235](index=235&type=chunk) [Issuer Purchases of Equity Securities](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Republic Services did not repurchase common stock during Q2 2025, with approximately $2.47 billion remaining available under its $3.0 billion share repurchase authorization Issuer Share Repurchases | Period | Total Number of Shares Purchased | Average Price Paid per Share | Dollar Value of Shares that May Yet Be Purchased Under the Program | | :--- | :--- | :--- | :--- | | **April 1 - 30, 2025** | — | $ — | $2,465,815,052 | | **May 1 - 31, 2025** | — | $ — | $2,465,815,052 | | **June 1 - 30, 2025** | — | $ — | $2,465,815,052 | - The company has a **$3.0 billion** share repurchase authorization effective from January 1, 2024, through December 31, 2026[241](index=241&type=chunk) [Defaults upon Senior Securities](index=49&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[238](index=238&type=chunk) [Mine Safety Disclosures](index=49&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reports no mine safety disclosures - None[239](index=239&type=chunk) [Other Information](index=49&type=section&id=Item%205.%20Other%20Information) The company reports that no director or officer adopted or terminated a Rule 10b5-1 trading plan or any other non-Rule 10b5-1 trading arrangement during the quarter ended June 30, 2025 - During the quarter ended June 30, 2025, **no director or officer adopted or terminated any contract, instrument or written plan** for the purchase or sale of Republic securities under Rule 10b5-1(c)[240](index=240&type=chunk) [Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including an amendment to the credit agreement, CEO and CFO certifications, and XBRL data files

Core Insights - Republic Services reported quarterly earnings of $1.77 per share, exceeding the Zacks Consensus Estimate of $1.75 per share, and showing an increase from $1.61 per share a year ago, representing an earnings surprise of +1.14% [1] - The company generated revenues of $4.24 billion for the quarter ended June 2025, which was below the Zacks Consensus Estimate by 0.75%, but up from $4.05 billion year-over-year [2] - Republic Services has outperformed the S&P 500, with shares increasing about 20% since the beginning of the year compared to the S&P 500's gain of 8.6% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.82 on revenues of $4.31 billion, and for the current fiscal year, it is $6.87 on revenues of $16.87 billion [7] - The estimate revisions trend for Republic Services was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Waste Removal Services industry is currently ranked in the bottom 41% of over 250 Zacks industries, suggesting that the outlook for the industry can significantly impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Republic Services (RSG) Q2 2025 Earnings Call July 29, 2025 05:00 PM ET Company ParticipantsAaron Evans - VP - IRJon Vander Ark - President, CEO & DirectorBrian Delghiaccio - EVP & CFOTyler Brown - AVPSabahat Khan - MD - Global ResearchTami Zakaria - Executive DirectorFaiza Alwy - MD - US Company ResearchStephanie Moore - SVP - Equity ResearchTobey Sommer - Managing DirectorConference Call ParticipantsBryan Burgmeier - Equity Research AnalystNoah Kaye - Senior Research AnalystToni Kaplan - Executive Directo ...

Republic Services (RSG) Q2 2025 Earnings Call July 29, 2025 05:00 PM ET Speaker0Good afternoon, and welcome to the Republic Services Second Quarter twenty twenty five Investor Conference Call. Republic Services is traded on the New York Stock Exchange under the symbol RSG. All participants in today's call will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your touch tone phone.And to withdraw your question ...

Reported Earnings Per Share of $1.75 and Adjusted Earnings Per Share of $1.77 Expanded Net Income Margin 40 Basis Points and Adjusted EBITDA Margin 100 Basis Points Generated Year-to-Date Cash Flow from Operations of $2.13 Billion and Adjusted Free Cash Flow of $1.42 Billion Invested Nearly $900 Million in Value-Creating Acquisitions During the First-Half of the Year Updated Full-Year Financial Guidance Increased Quarterly Dividend by Approximately 8 PercentPHOENIX, July 29, 2025 /PRNewswire/ -- Republic S ...

EXHIBIT 99.1 Republic Services, Inc. Reports Second Quarter 2025 Results PHOENIX (July 29, 2025) – Republic Services, Inc. (NYSE: RSG) today reported net income of $550 million, or $1.75 per diluted share, for the three months ended June 30, 2025, versus $512 million, or $1.62 per diluted share, for the comparable 2024 period. Excluding certain expenses and other items, on an adjusted basis, net income for the three months ended June 30, 2025, was $556 million, or $1.77 per diluted share, versus $509 millio ...

Resolute Mining (RSG) Q2 2025 Earnings Call July 29, 2025 04:00 AM ET Speaker0Good morning and welcome to Resolute Mining's Q2 Operation Results. I'm Chris Egger, your CEO. And today, I'm welcomed on the call by Dave Jackson, our CFO and Bruce Malwat, our Head of Exploration, who is available for Q and A at the end of the presentation. And starting with Slide three in our presentation, we believe Resident Mining had a very strong quarter, again, with very healthy production of 75,962 ounces, which is simila ...

29 July 2025 Q2 2025 Activities Report ASX/LSE - RSG 1 For personal use only This presentation contains information about Resolute Mining Limited (Resolute or the Company) and its activities that is current as at the date of this presentation unless otherwise stated. The information in this presentation remains subject to change without notice. This presentation has been prepared by Resolute and no party other than Resolute has authorised or caused the issue, lodgement, submission, despatch or provision of ...

Core Insights - Republic Services achieved a 20% reduction in greenhouse gas (GHG) emissions in 2024 compared to its 2017 baseline, surpassing its interim target of a 10% reduction by 2025 [1] - The company reported significant progress towards its 2030 Sustainability Goals, particularly in Safety, Talent, and Climate Leadership, with metrics exceeding industry benchmarks [3] Sustainability Achievements - The 2024 Sustainability Report highlights the company's advancements in sustainability, including third-party recognitions such as inclusion in Barron's 100 Most Sustainable Companies and Fortune's America's Most Innovative Companies [4] - Republic Services is launching 6 renewable natural gas (RNG) projects and expanding its electric collection fleet to 50 electric vehicles [8] Employee Engagement and Community Impact - The company maintains an industry-leading employee engagement score of 86, indicating strong internal morale and commitment [8] - Republic Services has positively impacted over 5 million people through its community investments [8]