Republic Services, Inc. has recently released its 10-Q report, providing a detailed insight into the company's financial performance. Republic Services, Inc. is a prominent environmental services provider in the United States and Canada, offering a wide range of services including waste collection, recycling, and landfill operations. The company operates through numerous collection operations, transfer stations, recycling centers, and active landfills, with a strong focus on sustainability initiatives.
In the 10-Q report, Republic Services, Inc. reported revenue of $7,909.8 million for the six months ended June 30, 2024, marking an 8.2% increase from $7,307.0 million for the same period in 2023. This growth in revenue was attributed to various factors, including a 5.8% increase in average yield, higher revenue from acquisitions net of divestitures, and a 0.4% increase in recycling processing and commodity sales. However, the company also experienced a 0.9% decrease in waste volume and a 0.4% decrease in environmental solutions revenue.
The company's operating income for the six months ended June 30, 2024, stood at $1,546.6 million, representing 19.6% of the total revenue. This reflects an increase from the operating income of $1,351.4 million, which accounted for 18.5% of the revenue for the same period in 2023.
Republic Services, Inc. reported a net income attributable to the company of $965.3 million for the six months ended June 30, 2024, translating to $3.06 per diluted share. This is a notable increase from the net income of $811.2 million, or $2.56 per diluted share, for the same period in 2023.
The company also provided adjusted earnings per share guidance for the year ending December 31, 2024. It anticipates adjusted diluted earnings per share in the range of $6.15 to $6.20, which is not a measure determined in accordance with U.S. GAAP. Republic Services, Inc. believes that presenting adjusted diluted earnings per share provides a better understanding of its operational activities before the financial impact of certain items.
Following these announcements, the company's shares moved 0.3%, and are now trading at a price of $199.67. If you want to know more, read the company's complete 10-Q report here.
