Summary
Republic Services, Inc. (RSG) reported financial results for the nine months ended September 30, 2014, demonstrating solid revenue growth driven by increased volumes and pricing. For the nine-month period, revenue rose by 4.6% to $6.56 billion compared to the prior year. Net income attributable to Republic Services, Inc. saw a significant increase of approximately 41% to $497.3 million, resulting in diluted earnings per share of $1.39, up from $0.97 in the same period last year. This strong performance was partially aided by a decrease in negotiation and withdrawal costs related to the Central States Pension Fund and a substantial decrease in environmental remediation charges, particularly at the Bridgeton Landfill, when compared to the prior year's nine-month period. The company also maintained robust operating income and is actively managing its capital structure and returning value to shareholders through dividends and share repurchases.
Financial Highlights
54 data points| Revenue | $2.27B |
| Cost of Revenue | $1.40B |
| Gross Profit | $866.80M |
| SG&A Expenses | $229.00M |
| Operating Income | $382.40M |
| Interest Expense | $87.00M |
| Net Income | $185.80M |
| EPS (Basic) | $0.52 |
| EPS (Diluted) | $0.52 |
| Shares Outstanding (Basic) | 356.25M |
| Shares Outstanding (Diluted) | 357.74M |
Key Highlights
- 1Revenue for the first nine months of 2014 increased by 4.6% to $6.56 billion, driven by a 2.1% increase in volume and a 1.3% average yield increase.
- 2Net income attributable to Republic Services, Inc. grew by approximately 41% to $497.3 million for the nine-month period, with diluted EPS rising to $1.39 from $0.97 year-over-year.
- 3Operating income for the nine months increased to $1.07 billion, up from $807.7 million in the prior year, reflecting improved operational efficiencies and reduced significant charges.
- 4The company's balance sheet remained strong, with total assets of $19.99 billion and total liabilities of $11.99 billion as of September 30, 2014.
- 5Cash provided by operating activities was $1.10 billion for the nine months ended September 30, 2014, demonstrating strong cash generation from core operations.
- 6Republic Services returned capital to shareholders through $277.3 million in share repurchases and $279.1 million in cash dividends paid during the nine months ended September 30, 2014.
- 7The company refinanced its credit facilities in June 2014, securing a $1.25 billion revolving credit facility maturing in June 2019, enhancing financial flexibility.