What is Republic Services' updated earnings per share guidance for the full year 2019?

Republic Services reaffirmed its full-year 2019 diluted EPS guidance to be in the range of $3.20 to $3.25. The company also expects adjusted diluted EPS to be between $3.23 and $3.28. These adjusted figures exclude restructuring charges and certain acquisition-related costs.

What are the company's updated cash flow expectations for 2019?

For the full year 2019, Republic Services expects cash provided by operating activities to be between $2,301 million and $2,351 million. Adjusted free cash flow is projected to fall within the range of $1,125 million to $1,175 million. Management emphasizes that these adjusted metrics are used to provide a clearer view of operational cash generation.

Did Republic Services announce any changes to its dividend?

Yes, on July 25, 2019, Republic Services' board of directors approved a 3-cent increase to the regular quarterly dividend, bringing it to $0.405 per share.

What is the significance of the adjusted earnings per share and adjusted free cash flow figures?

Republic Services uses adjusted earnings per share and adjusted free cash flow to provide investors with a better understanding of the company's ongoing operational performance. These metrics exclude certain items like restructuring charges and specific acquisition costs that can disproportionately impact results in a particular period.

RSG 8-K: Earnings & Results

Summary

Republic Services, Inc. (RSG) filed an 8-K on July 25, 2019, primarily to report its financial results for the second quarter of 2019 and announce a dividend increase. The company reaffirmed its full-year 2019 diluted earnings per share (EPS) guidance, expecting it to be in the range of $3.20 to $3.25, and adjusted diluted EPS between $3.23 and $3.28. This guidance is based on current economic conditions and excludes restructuring charges and certain acquisition-related costs, which management believes offers a clearer view of ongoing operational performance. Additionally, Republic Services provided updated guidance for its full-year 2019 cash flow metrics. The company expects cash provided by operating activities to be between $2,301 million and $2,351 million. Adjusted free cash flow is projected to be in the range of $1,125 million to $1,175 million. These adjusted figures provide insight into recurring operational cash generation, though investors should note the limitations of adjusted free cash flow, as it excludes essential payments like debt service and dividends.

Key Highlights

1Reaffirmed Full-Year 2019 EPS Guidance: Diluted EPS expected between $3.20-$3.25 and adjusted diluted EPS between $3.23-$3.28.
2Provided Updated Cash Flow Guidance: Expects 2019 cash from operations between $2,301M-$2,351M and adjusted free cash flow between $1,125M-$1,175M.
3Emphasis on Adjusted Metrics: Management uses adjusted EPS and adjusted free cash flow to provide insight into ongoing operational performance, excluding restructuring and acquisition costs.
4Quarterly Dividend Increase: The Board of Directors approved a 3-cent increase in the regular quarterly dividend to $0.405 per share.
5Focus on Operational Performance: The report indicates a focus on understanding the core business operations separate from specific, impactful events like acquisitions and restructuring.
6Forward-Looking Guidance Assumptions: Guidance is based on current economic conditions with no assumption of significant economic changes for the remainder of 2019.

REPUBLIC SERVICES, INC. 8-K Report, Financial Results (Jul 25, 2019)

Summary

Key Highlights

Frequently Asked Questions