Republic Services reported earnings of $1.84 per diluted share for the quarter that closed on June 30, up from $1.75 a year earlier, and lifted most of its full-year targets. Core price on total revenue added 5.3% to growth, helping lift total revenue by 4.6%, while volume took away 1.6% and acquisitions supplied 1.1% of that total growth. Adjusted EBITDA reached $1.42 billion at a 32.1% margin, matching the prior year even after a 50 basis point drag from event-driven landfill volumes, and the board added 4.5 cents to the quarterly dividend, setting it at $0.670 per share with an October 2 record date and payment on October 15. Management raised full-year revenue, adjusted EBITDA, and free cash flow guidance and set adjusted earnings at $7.23 to $7.28 per share, though recycled commodities sold for an average of $136 per ton, $13 lower than a year earlier. 58 hedge funds held the stock in the most recent quarter, up from 54 the quarter before, and short interest stands at 2.16% of float.
Republic Services IncRepublic Services beat on EPS ($1.84 vs $1.75), raised full-year revenue/EBITDA/FCF guidance, and added 4.5 cents to its quarterly dividend.
