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Jun 30
Republic Services Q2 2025 Earnings Report
Republic Services reported solid financial performance with increased earnings and margin expansion in Q2 2025.
Key Takeaways
Republic Services delivered strong second quarter results, highlighted by increased revenue, net income, and improved EBITDA margins driven by disciplined pricing and operational execution.
Revenue rose to $4.235 billion in Q2 2025.
Net income increased to $550 million, with EPS of $1.75.
Adjusted EBITDA margin expanded by 100 basis points to 32.1%.
The company invested nearly $900 million in acquisitions during the first half of 2025.
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
Republic Services reaffirmed full-year guidance with raised free cash flow expectations, reflecting confidence in margin expansion and cash generation.
Positive Outlook
- Raised full-year adjusted free cash flow guidance to $2.375–$2.415 billion.
- Maintained full-year adjusted EPS guidance of $6.82–$6.90.
- Confirmed adjusted EBITDA guidance of $5.275–$5.325 billion.
- Quarterly dividend increased by 4.5 cents per share.
- Strong first-half acquisition investment totaling $888 million.
Challenges Ahead
- Ongoing labor disruptions in some isolated markets.
- Commodity prices in recycling declined year-over-year.
- Environmental solutions revenue slightly down YoY.
- Free cash flow still impacted by significant capital expenditures.
- Some volume softness in key segments like residential and large-container collection.