Republic Services said revenue for the 3 months ended March 31, 2024 rose 7.8% to $3,861.7 million from $3,581.1 million a year earlier. The company cited higher average yield of +6.0% and a net acquisition contribution of +3.7% as factors that increased revenue, while lower volume of -0.9% and a decline in environmental solutions revenue of -1.1% reduced it.

1. 01

   Republic Services said revenue for the 3 months ended March 31, 2024 rose 7.8% to $3,861.7 million from $3,581.1 million a year earlier. The company cited higher average yield of +6.0% and a net acquisition contribution of +3.7% as factors that increased revenue, while lower volume of -0.9% and a decline in environmental solutions revenue of -1.1% reduced it.

2. 02

   Republic Services said pre-tax income for Q1 2024 was $598.9 million ($522.1 million a year earlier), and net income attributable to Republic Services, Inc. was $453.8 million, or $1.44 per diluted share, compared with $383.9 million, or $1.21 per diluted share.

3. 03

   The company said restructuring charges for Q1 2024 were $5.9 million ($5.5 million a year earlier), related to the redesign of its asset management and customer and order management software systems. It said it expects to incur about $29 million in additional charges for the remainder of 2024.

4. 04

   Republic Services said capital expenditures for Q1 2024 were $514.5 million ($378.6 million a year earlier), acquisition and investment payments were $166.3 million, and dividend payments were $168.3 million. The company said its available capacity under the Credit Facility was $2,495.3 million as of March 31, 2024.

Key figures

Quarter ended March 31, 2024

Revenue

$3.9B

Operating income

$733M

Net income

$454M

EPS

$1.44

Operating cash flow

$812M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.