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3 Reasons Growth Investors Will Love Republic Services (RSG)
ZACKS· 2024-07-26 17:46
However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cuttingedge growth stocks. Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the compa ...
Republic Services (RSG) Earnings Surpass Estimates in Q2
ZACKS· 2024-07-25 17:15
The RSG stock has gained 29.7% over the past year, outperforming the 22.9% rally of the industry it belongs to and 22.6% growth of the Zacks S&P 500 Composite. Republic Services, Inc. (RSG) reported an impressive second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. RSG's earnings per share (excluding 1 cent from non-recurring items) of $1.6 beat the Zacks Consensus Estimate by 5.2% and increased 14.2% from the year-ago quarter. Revenues of $4 billion beat the cons ...
Republic Services Polymer Center Honored as Industry's 2023 Sustainability Game Changer
Prnewswire· 2024-07-25 13:04
"Game changer means the narrative has shifted," said NWRA President and CEO Michael E. Hoffman. "Republic Services Polymer Center's strategy has changed the circular economy narrative and demonstrated market-based circular solutions are viable." Media [email protected] (480) 757-9770 Republic Services' Polymer Center processes sorted and baled plastics from recycling facilities, further separating plastics by type and color to produce hot-washed recycled PET flake and color-sorted olefins. Republic also lau ...
Republic Services(RSG) - 2024 Q2 - Quarterly Report
2024-07-25 01:43
Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share RSG New York Stock Exchange For the quarterly period ended June 30, 2024 REPUBLIC SERVICES, INC. (Exact name of registrant as specified in its charter) _________________________________________________________ Delaware 65-0716904 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 18500 North Allied Way Phoenix, Arizona 85054 (Address of princ ...
Republic Services (RSG) Reports Q2 Earnings: What Key Metrics Have to Say
ZACKS· 2024-07-24 23:00
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Average yield: 5.5% compared to the 5.9% average estimate based on three analysts. Revenue- Environmental solutions: $489.70 million compared to the $435.95 million average estimate based on two analysts. The reported number represents a change of +16.7% year over year. Revenue- Collection- Total: $2.72 billion co ...
Republic Services(RSG) - 2024 Q2 - Earnings Call Transcript
2024-07-24 22:59
Financial Data and Key Metrics Changes - Revenue growth of 9% and adjusted EBITDA growth of 13% were reported, with adjusted EBITDA margin expanding by 110 basis points to 31.1% [64][91] - Adjusted earnings per share reached $1.61, and year-to-date adjusted free cash flow was $1.15 billion [64][91] - The updated financial guidance includes revenue expectations in the range of $16.075 billion to $16.125 billion [67] Business Line Data and Key Metrics Changes - Environmental solutions revenue increased by $74 million year-over-year, with adjusted EBITDA margin expanding by 130 basis points to 23.8% [9] - Small container volume decreased by 60 basis points, while landfill MSW increased by 1.1% [90] - Recycling processing and commodity sales increased revenue by 50 basis points during the quarter, with commodity prices at $173 per ton compared to $119 per ton in the prior year [69] Market Data and Key Metrics Changes - Core price on total revenue was 6.8%, with core price on related revenue at 8.1% [8] - Average yield on total revenue was 5.5%, while average yield on related revenue was 6.6% [8] - Volume on total revenue decreased by 80 basis points, with a 3.3% decline in large container volume attributed to softness in construction-related activity [8] Company Strategy and Development Direction - The company is focused on sustainability and has made significant investments in renewable natural gas projects and fleet electrification, aiming for over 50 electric vehicles in its collection fleet by year-end [66][87] - The company continues to prioritize direct customer relationships and has intentionally shed broker-related business to enhance profitability [90][132] - Digital capabilities are being expanded with the implementation of the RISE digital operations platform and the MPower fleet management system, expected to drive $20 million in annual cost savings once fully implemented [65][66] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the construction market recovering, anticipating that interest rate cuts could catalyze housing stock increases [14] - The company expects organic growth for the balance of the year, despite some volume challenges due to market conditions [46] - Management remains confident in navigating potential impacts from political changes and market fluctuations, emphasizing a strong operational foundation [72] Other Important Information - The company has invested $68 million in acquisitions year-to-date and has a pipeline of over $300 million in transactions expected to close by year-end [88] - Employee turnover improved by 70 basis points compared to the prior year, indicating a positive trend in workforce stability [6] Q&A Session Summary Question: Impact of market conditions on volume expectations - Management noted that volume expectations are slightly below original forecasts due to challenges in the construction market, but pricing remains strong [14] Question: Appetite for acquisitions in hazardous waste markets - Management indicated a consistent approach to acquisitions, focusing on high-quality deals that align with strategic goals [20] Question: Organic growth expectations for the remainder of the year - Management confirmed expectations for organic growth, despite challenges in volume due to market conditions [46] Question: Pricing trends and margin expectations - Management anticipates a slight deceleration in pricing growth in the second half of the year but expects continued margin expansion [37][120] Question: Update on digital initiatives and cost savings - Management confirmed that the MPower system is expected to drive significant cost savings and improve operational efficiency [65][142]
Republic Services, Inc. Increases Quarterly Dividend to $0.580 Per Share
Prnewswire· 2024-07-24 20:15
"We are raising our quarterly dividend by approximately 8 percent," said Jon Vander Ark, president and chief executive officer. "This is the 21st consecutive year we've increased our annual dividend, which reinforces our commitment to efficiently return cash to shareholders." For more information, contact: Media Inquiries Investor Inquiries Roman Blahoski (480) 718-0328 Aaron Evans (480) 718-0309 [email protected] [email protected] PHOENIX, July 24, 2024 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) a ...
Republic Services, Inc. Reports Second Quarter 2024 Results
Prnewswire· 2024-07-24 20:10
PHOENIX, July 24, 2024 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) today reported net income of $511.5 million, or $1.62 per diluted share, for the three months ended June 30, 2024, versus $427.4 million, or $1.35 per diluted share, for the comparable 2023 period. Excluding certain expenses and other items, on an adjusted basis, net income for the three months ended June 30, 2024, was $508.9 million, or $1.61 per diluted share, versus $446.7 million, or $1.41 per diluted share, for the comparable 20 ...
Republic Services(RSG) - 2024 Q2 - Quarterly Results
2024-07-24 20:05
EXHIBIT 99.1 Republic Services, Inc. Reports Second Quarter 2024 Results PHOENIX (July 24, 2024) – Republic Services, Inc. (NYSE: RSG) today reported net income of $511.5 million, or $1.62 per diluted share, for the three months ended June 30, 2024, versus $427.4 million, or $1.35 per diluted share, for the comparable 2023 period. Excluding certain expenses and other items, on an adjusted basis, net income for the three months ended June 30, 2024, was $508.9 million, or $1.61 per diluted share, versus $446. ...
Here's Why Republic Services (RSG) is a Strong Momentum Stock
ZACKS· 2024-07-24 14:56
Republic Services is a leading provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services. As of Dec 31, 2023, the company operated through 364 collection operations, 246 transfer stations, 207 active landfills, 74 recycling centers, three treatment, recovery and disposal facilities, 22 treatment, storage and disposal facilities, 12 deep injection wells, 1 polymer center and 6 salt water disposal wells, across the United States and Canada. The company is engaged in ...