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Sep 30, 2023
Republic Services Q3 2023 Earnings Report
Republic Services reported strong third-quarter results, driven by broad-based revenue growth and strategic execution.
Key Takeaways
Republic Services reported a strong third quarter with a 6.3% increase in total revenue, including 4.6% organic growth and 1.7% growth from acquisitions. The company's adjusted EBITDA grew by 9%, leading to a 70 basis points expansion in adjusted EBITDA margin. They also invested over $900 million in acquisitions and the board authorized $3 billion for share repurchases.
Reported EPS was $1.52, and adjusted EPS was $1.54.
Net income margin expanded by 100 basis points, and adjusted EBITDA margin expanded by 70 basis points.
Cash flow from operations was $2,719 million, and adjusted free cash flow was $1,827 million.
Invested more than $900 million in value-creating acquisitions.
Revenue by Segment
Forward Guidance
The Company now expects full-year 2023 diluted earnings per share to be in the range of $5.30 to $5.33 and adjusted diluted earnings per share to be in the range of $5.46 to $5.49. The increase is primarily due to a lower than expected tax rate. The Company reiterates the full-year 2023 guidance ranges for adjusted EBITDA and adjusted free cash flow provided in July.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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