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Jun 30, 2024
Republic Services Q2 2024 Earnings Report
Republic Services reported Q2 2024 results with revenue growth and increased profitability.
Key Takeaways
Republic Services reported a strong second quarter in 2024, with an 8.6% increase in total revenue. The company's net income and adjusted EBITDA margins both expanded by 110 basis points. As a result, the company raised its full-year financial guidance for earnings and cash flow.
Total revenue grew by 8.6 percent, including 5.6 percent organic growth and 3.0 percent growth from acquisitions.
Net income was $511.5 million, representing a margin of 12.6 percent.
Adjusted EBITDA was $1,257.8 million, with an adjusted EBITDA margin of 31.1 percent.
The company increased its quarterly dividend by approximately 8 percent.
Revenue by Segment
Forward Guidance
Republic Services provided full-year 2024 financial guidance, expecting revenue between $16.075 billion and $16.125 billion, adjusted EBITDA between $4.900 billion and $4.925 billion, adjusted diluted earnings per share between $6.15 and $6.20, and adjusted free cash flow between $2.150 billion and $2.170 billion.
Positive Outlook
- Revenue is expected to be in the range of $16.075 billion to $16.125 billion.
- Adjusted EBITDA is expected to be in the range of $4.900 billion to $4.925 billion.
- Adjusted Diluted Earnings per Share is expected to be in the range of $6.15 to $6.20.
- Adjusted Free Cash Flow is expected to be in the range of $2.150 billion to $2.170 billion.
- Company continues to increase cash returns to shareholders.
Challenges Ahead
- Guidance is based on current economic conditions and does not assume any significant changes in the overall economy in 2024.
- Impacts of the overall global economy and increasing interest rates.
- Ability to effectively integrate and manage companies they acquire.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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