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Mar 31, 2023
Republic Services Q1 2023 Earnings Report
Reported strong first quarter results driven by broad-based contribution across the business, double-digit revenue growth, and margin expansion.
Key Takeaways
Republic Services reported a strong first quarter with a 20.6% increase in total revenue, including 9.6% organic growth and 11.0% from acquisitions. Adjusted EPS increased by 8.8% to $1.24 per share, and adjusted EBITDA reached $1,040.0 million. The company invested over $200 million in acquisitions and was named to Barron's 2023 100 Most Sustainable Companies List.
Total revenue growth of 20.6 percent includes 9.6 percent of organic growth and 11.0 percent of growth from acquisitions.
Core price on total revenue increased revenue by 8.2 percent.
Adjusted EBITDA was $1,040.0 million and adjusted EBITDA margin was 29.0 percent of revenue.
Cash invested in acquisitions was $224.1 million, all of which was in the recycling and solid waste business.
Republic Services
Republic Services
Republic Services Revenue by Segment
Revenue by Segment
Collection Revenue
CapyFin.comLandfill (net) Revenue
CapyFin.comEnvironmental Solutions Revenue
CapyFin.comRecycling & Other Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties.
Challenges Ahead
- Impacts of the overall global economy and increasing interest rates
- Our ability to effectively integrate and manage companies we acquire, including US Ecology, and to realize the anticipated benefits of any such acquisitions
- Acts of war, riots or terrorism, and the impact of these acts on economic, financial and social conditions in the United States
- Our dependence on large, long-term collection, transfer and disposal contracts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income