Summary
Republic Services, Inc. (RSG) filed an 8-K on October 27, 2016, primarily to announce its financial results for the third quarter and nine months ended September 30, 2016, and to provide updated full-year 2016 guidance along with a preliminary outlook for 2017. Investors will find the provided guidance for earnings per share (both diluted and adjusted) and cash flow metrics to be the most crucial takeaways from this filing. The company updated its full-year 2016 guidance, indicating expected diluted EPS between $1.75-$1.76 and adjusted diluted EPS between $2.19-$2.20. Cash flow expectations for the full year were also revised, with cash provided by operations anticipated to be between $1,814 million-$1,824 million and adjusted free cash flow between $840 million-$850 million. Furthermore, RSG offered a preliminary outlook for fiscal year 2017, projecting diluted EPS in the range of $2.29-$2.34 and adjusted diluted EPS between $2.31-$2.36. Adjusted free cash flow for 2017 is projected to be between $875 million-$900 million.
Key Highlights
- 1Republic Services updated its full-year 2016 diluted EPS guidance to a range of $1.75 to $1.76.
- 2Updated full-year 2016 adjusted diluted EPS guidance is set between $2.19 and $2.20.
- 3The company expects full-year 2016 cash provided by operations to be between $1,814 million and $1,824 million.
- 4Full-year 2016 adjusted free cash flow is projected to be in the range of $840 million to $850 million.
- 5Preliminary outlook for fiscal year 2017 diluted EPS is projected between $2.29 and $2.34.
- 6Preliminary fiscal year 2017 adjusted diluted EPS is expected to be between $2.31 and $2.36.
- 7Projected adjusted free cash flow for 2017 is between $875 million and $900 million.