Republic Services Q1 2024 Earnings Report
Key Takeaways
Republic Services reported a strong start to 2024, with total revenue growth of 8 percent, including 4.1 percent organic growth and 3.7 percent from acquisitions. The company expanded its net income margin by 110 basis points and adjusted EBITDA margin by 120 basis points. Continued pricing strategies and solid execution drove double-digit growth in EBITDA and EPS.
Total revenue grew by 8 percent, with organic growth contributing 4.1 percent and acquisitions 3.7 percent.
Net income margin expanded by 110 basis points, and adjusted EBITDA margin increased by 120 basis points.
Adjusted EPS increased by 16.9 percent year-over-year to $1.45 per share.
The Company's average recycled commodity price per ton sold increased by $48 over the prior year to $153.
Republic Services
Republic Services
Republic Services Revenue by Segment
Forward Guidance
This press release contains forward-looking statements about the company's plans, strategies, and prospects. These statements are based on current beliefs and expectations and are subject to risks and uncertainties.
Positive Outlook
- The company expects to effectively integrate and manage acquired companies.
- The company anticipates benefits from its sustainability initiatives.
- The company aims to maintain its investment grade credit ratings.
- The company plans to reinvest in existing capital assets to ensure a high level of customer service.
- The company intends to invest in capital assets to facilitate growth in its customer base and services provided.
Challenges Ahead
- The company is subject to the impacts of the overall global economy and increasing interest rates.
- The company's ability to effectively integrate and manage companies it acquires is uncertain.
- The amount of the financial contribution of the company's sustainability initiatives is uncertain.
- The company is subject to acts of war, riots or terrorism, and the impact of these acts on economic, financial and social conditions.
- The company is dependent on large, long-term collection, transfer and disposal contracts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income