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Sep 30
Republic Services Q3 2025 Earnings Report
Republic Services reported strong third-quarter 2025 results, driven by effective pricing strategies and operational execution, despite ongoing volume pressures.
Key Takeaways
Republic Services delivered robust third-quarter 2025 results, with total revenue increasing by 3.3% to $4.212 billion. The company reported diluted EPS of $1.76 and adjusted EPS of $1.90, alongside a net income of $550 million. Adjusted EBITDA reached $1.38 billion, with an adjusted EBITDA margin of 32.8%, reflecting an 80-basis-point expansion over the prior year, primarily due to pricing ahead of cost inflation and disciplined operations.
Total revenue grew by 3.3% to $4.212 billion, with organic growth contributing 1.7% and acquisitions adding 1.6%.
Diluted EPS was $1.76, and adjusted diluted EPS, a non-GAAP measure, was $1.90, demonstrating strong profitability.
Adjusted EBITDA increased to $1.38 billion, with an adjusted EBITDA margin of 32.8%, an 80-basis-point improvement year-over-year.
The company returned $539 million to shareholders through share repurchases and paid $182 million in cash dividends during the quarter.
Republic Services
Republic Services
Republic Services Revenue by Segment
Revenue by Segment
Total Collection Revenue
CapyFin.comTransfer, net Revenue
CapyFin.comLandfill, net Revenue
CapyFin.comEnvironmental Solutions, net Revenue
CapyFin.comRecycling processing and commodity sales Revenue
CapyFin.comOther non-core Revenue
CapyFin.com Forward Guidance
Republic Services expects its full-year 2025 revenue to be at the lower end of its previously provided guidance range, while reiterating all other financial components of its 2025 guidance.
Positive Outlook
- Reiterated all other financial components of 2025 guidance, indicating confidence in other performance metrics.
- Continued execution of strategy for sustainable, profitable growth.
- Ability to price ahead of cost inflation is expected to continue.
- Disciplined operational execution is driving margin expansion.
- Ongoing investments in differentiated capabilities are expected to yield value.
Challenges Ahead
- Revenue expected to be near the low end of the full-year 2025 guidance range.
- Ongoing cyclical volume pressures are impacting revenue growth.
- Recycled commodity prices decreased significantly year-over-year, which could affect future revenue from recycling operations.
- Labor disruptions in certain isolated markets impacted the current quarter and could pose future risks.
- Potential for new risk factors to emerge that could impact business performance.