What is the company's revenue performance for the nine months ended September 30, 2002?

For the nine months ended September 30, 2002, Republic Services, Inc. reported a total revenue of $1,759.8 million, representing a 3.9% increase compared to $1,694.0 million in the same period of 2001. This growth was driven by a combination of price and volume increases in its collection services.

How did the company's profitability change in the first nine months of 2002?

Profitability improved significantly. Net income for the nine months ended September 30, 2002, was $178.1 million, an increase of 8.3% from $164.4 million in the corresponding period of 2001. Diluted earnings per share also increased to $1.07 from $0.96.

What is the significance of the adoption of SFAS 142 for Republic Services?

The adoption of Statement of Financial Accounting Standards No. 142 (SFAS 142) on January 1, 2002, meant that Republic Services ceased amortizing intangible assets with indefinite lives, such as goodwill. This accounting change positively impacted reported net income and earnings per share for the periods after its adoption, as goodwill amortization expenses were eliminated.

What is the company's position regarding landfill capacity?

As of September 30, 2002, Republic Services owned or operated 56 solid waste landfills with a total estimated available disposal capacity of approximately 1.7 billion cubic yards. This includes both permitted airspace and an estimate of airspace that is likely to be permitted, ensuring long-term operational runway.

RSG 10-Q Quarterly Report Q3 FY2002 — Revenue, Net Income, EPS

Summary

Republic Services, Inc. reported solid financial results for the nine months ended September 30, 2002, demonstrating revenue growth and improved profitability compared to the same period in 2001. The company experienced a nearly 4% increase in revenue, reaching $1.76 billion, driven by a combination of price increases and volume growth in its core collection operations. Net income also saw a healthy rise, increasing by approximately 8.3% to $178.1 million. Key operational highlights include effective management of landfill capacity, with a total available disposal capacity of 1.7 billion cubic yards as of September 30, 2002, and a strategic reduction in goodwill amortization following the adoption of SFAS 142, which positively impacted reported net income. The company also continued its share repurchase program, signaling confidence in its financial position and commitment to shareholder returns. Despite a significant acquisition spend in the prior year, Republic Services managed its investments, focusing on operational efficiencies and managing costs effectively.

Key Highlights

1Revenue increased by 3.9% to $1.76 billion for the nine months ended September 30, 2002, compared to $1.69 billion in the prior year period.
2Net income rose by 8.3% to $178.1 million for the nine months ended September 30, 2002, from $164.4 million in the same period of 2001.
3Earnings per share (EPS) improved to $1.07 on a diluted basis for the nine months ended September 30, 2002, up from $0.96 in the prior year.
4The company adopted SFAS 142 (Goodwill and Other Intangible Assets) effective January 1, 2002, ceasing amortization of indefinite-lived intangibles, which positively impacted reported net income.
5Total available landfill disposal capacity stood at approximately 1.7 billion cubic yards as of September 30, 2002.
6The company continued its share repurchase program, buying back $138.4 million of common stock in the first nine months of 2002.
7Operating income showed a steady increase, growing to $341.4 million for the nine months ended September 30, 2002, from $321.1 million in the prior year period.

REPUBLIC SERVICES, INC. Quarterly Report for Q3 Ended Sep 30, 2002

Summary

Key Highlights

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