Mar 31

Republic Services Q1 2025 Earnings Report

Republic Services reported steady revenue growth and margin expansion despite challenging weather and volume headwinds.

Key Takeaways

Republic Services delivered a strong Q1 2025, with net income of $495 million and EPS of $1.58. Revenue rose to $4.01 billion, and adjusted EBITDA margin improved by 140 basis points, showcasing the company's cost management and pricing discipline.

Total Revenue
$4.01B
Previous year: $3.86B
+3.8%
EPS
$1.58
Previous year: $1.45
+9.0%
Adjusted EBITDA
$1.27B
Previous year: $1.17B
+8.8%
Adj. EBITDA Margin
31.6%
Previous year: 30.2%
+4.6%
Net Income Margin
12.3%
Previous year: 11.8%
+4.2%
Gross Profit
$1.23B
Previous year: $1.58B
-21.9%
Cash and Equivalents
$83M
Previous year: $91.6M
-9.4%
Free Cash Flow
$727M
Previous year: $535M
+36.0%
Total Assets
$33.1B
Previous year: $31.4B
+5.5%

Republic Services

Republic Services

Republic Services Revenue by Segment

Forward Guidance

Republic Services expects continued growth supported by strategic investments and disciplined pricing, though external headwinds may persist.

Positive Outlook

  • Strong adjusted EBITDA growth and margin expansion
  • Effective pricing ahead of inflation
  • Solid free cash flow generation
  • Recognition in sustainability and ethics rankings
  • Ongoing investment in high-return projects

Challenges Ahead

  • Cyclical volume softness
  • Impact from severe winter weather
  • Slower revenue growth compared to prior year
  • Decreased volume in core segments
  • Persistent macroeconomic volatility

Revenue & Expenses

Visualization of income flow from segment revenue to net income