What is the market's earnings forecast for Republic Services next quarter?

What guidance did Republic Services's management provide for the next earnings period?

Did Republic Services beat or miss consensus estimates last quarter?

What is Republic Services's latest dividend and current dividend yield?

What factors drove the changes in Republic Services's revenue and profit?

What does Republic Services do and what are its main business segments?

What is Republic Services's gross profit margin?

What is the revenue and EPS growth rate for Republic Services year over year?

- **Strong 2025 Results**: 3.5% revenue growth, 7% EBITDA expansion, and $7.02 EPS.
- **2026 Guidance**: 3.1% revenue growth, 3.6% EBITDA growth, and 3.1% EPS growth.
- **Digital & Sustainability Progress**: 180+ EVs, 9 RNG projects, and AI-driven efficiency improvements.
- **M&A Impact**: $400M invested in 2026, contributing 70bps to growth.
- **Challenges**: 1% organic volume decline, 30bps margin drag from prior-year landfill comps.

**【CEO Summary】**
- **2025 Performance Highlights**: Revenue grew 3.5%, adjusted EBITDA rose 7%, and adjusted EPS reached $7.02. Free cash flow was $2.43 billion, with a 200bp improvement in conversion to 45.8%.
- **Customer Loyalty**: Retention rate of 94% and improving Net Promoter Score reflect strong customer satisfaction.
- **Digital & Sustainability**: 
  - AI-driven tools for pricing, routing, and customer service are enhancing efficiency.
  - 180+ electric vehicles (EVs) in operation, with plans to add 150 more in 2026.
  - 9 RNG projects operational in 2025, with 4 more expected in 2026.
- **2026 Outlook**: Revenue $17.05-$17.15B, adjusted EBITDA $5.475-$5.525B, EPS $7.20-$7.28, and free cash flow $2.52-$2.56B.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: 
  - Core price on total/related revenue: 5.8%/7.1%, with yield on total/related at 3.7%/4.5%.
  - Volume decline reduced total/related revenue by 1%/1.2%, driven by construction/manufacturing weakness.
  - Adjusted EBITDA margin expanded 30bps to 31.3%, despite headwinds from fuel, commodities, and acquisitions.
- **2026 Guidance**: 
  - Average yield on related revenue: 4%-4.5%.
  - Organic volume expected to decline 1% due to prior-year wildfire/hurricane comparisons.
  - Commodity prices assumed at $115/ton for recycling.
  - Margin expansion of 60-70bps from underlying business, offset by 30bps from landfill volume comps.

**【Q&A Highlights】**
- **M&A Activity**: $400M invested in 2026, including a Kansas City acquisition. 2026 M&A contribution adds 70bps to growth.
- **Polymer Centers**: 2025 contribution: $45M revenue, $10M EBITDA. 2026: $30M revenue, $10M EBITDA.
- **ES Business**: Flat 2026 growth, with Q1/Q2 negative comps and recovery in H2.
- **Weather Impact**: Q1 2026 volumes down $25-$35M due to winter storms, fully baked into guidance.
- **Inflation**: 3.5% expected, with pricing exceeding cost inflation by 50-100bps.


Republic Services, Inc. (RSG) Q4 2025 Earnings Call Transcript

- **Strong Q3 Growth**: 3.3% revenue growth, 6.1% EBITDA expansion, and 80 basis point margin improvement highlight operational resilience.
- **Sustainability Momentum**: Polymer Centers and RNG projects driving long-term growth, with 137 EVs in fleet advancing electrification.
- **2026 Outlook**: Mid-single-digit revenue growth expected, with EBITDA and free cash flow growth outpacing revenue despite $100M non-recurring 2025 event-driven volumes.
- **ES Recovery**: Environmental Solutions demand stabilizing in Q3, with pipeline expansion signaling 2026 recovery from manufacturing softness.
- **Capital Allocation**: $1B+ in 2025 acquisitions, with strong M&A pipeline for balanced growth across Recycling & Waste and ES.

**【CEO Summary Section】**
- **Revenue Growth**: 3.3% year-over-year, driven by 4% yield on total revenue and disciplined pricing. Adjusted EBITDA grew 6.1%, with an 80 basis point margin expansion to 32.8%.
- **Customer Retention**: 94% retention rate, supported by strong service delivery and a 94% Net Promoter Score.
- **Volume Challenges**: Organic volume decreased 30 basis points due to softness in construction and manufacturing, offset by hurricane recovery and event-based landfill activity.
- **Sustainability Initiatives**: Polymer Centers in Indianapolis and Allentown (expected Q4 2025) and 6 RNG projects operational, contributing to free cash flow growth.
- **Capital Allocation**: $1B+ in acquisitions year-to-date, with a strong pipeline for 2026, balanced across Recycling & Waste and Environmental Solutions.

**【CFO Financial Commentary】**
- **Earnings**: Adjusted EPS of $1.90, up 12% YoY. Year-to-date free cash flow of $2.19B, supported by EBITDA growth and capital expenditure timing.
- **Event-Driven Volumes**: $100M in hurricane and wildfire cleanup revenue, contributing a 30 basis point margin benefit. Q3 landfill volumes included $35M from Carolinas hurricane recovery.
- **Cost Management**: 20 basis point margin improvement from operational efficiency, offset by 20 basis points from lower recycled commodity prices ($126/ton vs. $177/ton YoY).
- **Debt & Liquidity**: Total debt $13.4B, leverage ratio 2.5x, with $2.7B liquidity.

**【Q&A Highlights】**
- **2026 Outlook**: Mid-single-digit revenue growth expected, with EBITDA and free cash flow growth outpacing revenue. Headwinds include $100M non-recurring 2025 event-driven volumes and commodity price volatility.
- **Environmental Solutions (ES)**: Q3 revenue down $32M YoY due to manufacturing softness, but demand stabilizing in Q3. Pipeline expansion suggests recovery in 2026.
- **M&A Strategy**: Pipeline remains strong, with focus on small- to medium-sized deals in both Recycling & Waste and ES. 2025 acquisitions exceed $1B, with continued activity expected.
- **EV Adoption**: 137 EVs in fleet (150+ by year-end), supported by 32 facilities with commercial-scale charging infrastructure. Fleet electrification driven by customer demand and sustainability goals.
- **Commodity Pricing**: Recycling processing and commodity sales reduced organic growth by 20 basis points. Current commodity prices ~$120/ton, with no significant hedging strategies beyond fee-for-service models.

Republic Services, Inc. (RSG) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: 4.6% YoY, driven by pricing (4.1% yield) and special waste volumes. Environmental Solutions down 90bps due to manufacturing weakness.
- **Margin Expansion**: 100bps EBITDA margin expansion to 22.1%, supported by higher-margin landfill volumes and cost control.
- **Sustainability Progress**: 114 electric vehicles deployed, 7 RNG projects on track for 2025 completion. Polymer Centers operational.
- **Free Cash Flow Boost**: $80M increase from bonus depreciation, raising guidance to $2.375B-$2.415B.
- **Labor Disruptions**: 2025 impact excluded from adjusted results; negotiations ongoing with focus on fair wages.


**【Management Opening Remarks】**
- CEO Jon Vander Ark highlighted Q2 2025 results, emphasizing robust earnings growth (4.6% revenue), margin expansion (100bps to 22.1%), and strong free cash flow ($1.42B year-to-date). Customer retention remains above 94%.
- CFO Brian DelGhiaccio provided detailed financials, noting adjusted EBITDA of $1.3B and free cash flow guidance increase to $2.375B-$2.415B due to tax benefits.

**【CEO Summary Section】**
- **Revenue Growth**: 4.6% YoY, driven by pricing (4.1% yield on total revenue) and special waste volumes (hurricane recovery in Carolinas, wildfire remediation in LA). Environmental Solutions (ES) revenue declined 90bps due to manufacturing weakness.
- **Margin Expansion**: 100bps EBITDA margin expansion to 22.1%, supported by cost control and higher-margin landfill volumes. ES maintained 23.7% EBITDA margin despite lower event volumes.
- **Sustainability Progress**: Polymer Centers in Vegas and Indianapolis operational; 114 electric vehicles deployed, with 150+ expected by year-end. RNG projects on track for 7 completions in 2025.
- **M&A Activity**: $900M invested year-to-date, with >$1B expected for 2025. Focus on Recycling & Waste and ES acquisitions.

**【CFO Financial Commentary】**
- **Q2 Financials**: Adjusted EBITDA $1.3B, EPS $1.77. GAAP net income $420M. Free cash flow $1.42B year-to-date.
- **Volume Performance**: +20bps organic volume growth, driven by C&D (+47%) and special waste (+22%). Collection volumes down 3.4% (construction softness) and residential down 3.2% (contract shedding).
- **Commodity Pricing**: Recycling commodity prices $149/ton (Q2) vs $173/ton prior year. Full-year average expected $140/ton.
- **Guidance Update**: Revenue $16.675B-$16.75B (down $190M midpoint), EBITDA $5.275B-$5.325B, EPS $6.82-$6.90. Free cash flow increased by $80M due to tax benefits.

**【Q&A Highlights】**
- **Labor Disruptions**: Additional costs for customer service and credits, with 2025 impact excluded from adjusted results. Management confident in fair wage negotiations.
- **ES Challenges**: Manufacturing weakness and trade policy uncertainty driving volume declines. Pricing prioritized over volume, with flat margins despite 90bps revenue headwind.
- **Free Cash Flow**: $80M boost from bonus depreciation, offset by $25M higher CapEx. RNG and EV investments supported by low cost of capital.
- **M&A Pipeline**: Strong pipeline with regional deals, no transformational acquisitions. 2025 acquisitions expected to contribute $35M annual revenue.
- **Sustainability Momentum**: Polymer Centers and RNG projects advancing. EV charging infrastructure expansion to 30+ facilities by year-end.


Republic Services, Inc. (RSG) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: 4% YoY driven by 4.5% yield on total revenue, with 140 bps margin expansion from pricing vs. cost inflation.
- **Sustainability Leap**: Indianapolis Polymer Center to begin production in June, 80 EVs deployed (target 150+), and 7 RNG projects online by year-end.
- **M&A Momentum**: $826M Q1 acquisition of Shamrock Environmental, with >$1B 2025 M&A pipeline and 2.6x leverage.
- **Margin Resilience**: 31.6% adjusted EBITDA margin vs. 30.2% prior year, supported by cost control and mix improvements.
- **Tariff Mitigation**: Proactive strategies to offset potential impacts, including supplier negotiations and supply chain diversification.


**【CEO Opening Remarks】**
- Q1 2025 revenue grew 4% YoY, driven by 4.5% yield on total revenue and 5.4% yield on related revenue. Adjusted EBITDA margin expanded 140 bps to 31.6%, with 140 bps from pricing vs. cost inflation and 40 bps from one fewer workday.
- Customer retention rate remains >94%, with net promoter score improving due to service quality. MPower fleet management tool deployed at 40% of facilities, targeting productivity gains.
- Sustainability initiatives: Indianapolis Polymer Center to begin commercial production in June, 80 EVs in fleet (target 150+ by end-2025), and 7 RNG projects online by year-end.
- Acquired Shamrock Environmental for $826M in Q1, with >$1B M&A pipeline for 2025. Returned $226M to shareholders via buybacks and dividends.

**【CFO Financial Details】**
- Core price on total revenue +6.1%, with 9% open market pricing and 4.6% restricted pricing. Volume on total revenue -1.2% due to underperforming contract shedding, soft construction/mfg, and $25-30M weather impact.
- Recycling revenue up 30 bps from Las Vegas Polymer Center reopen and West Coast facility. Commodity prices $160/ton vs. $153/ton prior year.
- Adjusted free cash flow $727M (+36% YoY), with $13.4B debt and 2.6x leverage. Moody's upgraded credit rating to A3, citing stable revenue and cash flow.
- Q1 tax rate 26.5% due to renewable energy credits. 2025 guidance reaffirmed, with seasonality driving stronger Q2/Q3 results.

**【Q&A Highlights】**
- **Cyclical Volumes**: Construction/mfg softness expected to persist, but March/April trends improved. RNG projects and EV adoption mitigate macro risk.
- **Margin Expansion**: 140 bps Q1 expansion driven by price/cost spread and mix. 2025 guidance assumes moderate sequential deceleration.
- **M&A Appetite**: >$1B 2025 M&A target, focusing on strategic fits with double-digit returns. Pipeline remains strong despite macro uncertainty.
- **ES Business**: 2025 EBITDA margin expected to expand 75-100 bps, offsetting Q1 40 bps decline from weather and project timing.
- **RNG Projects**: 7 online by year-end, with $155/ton commodity prices supporting margins. Tariff mitigation strategies in place.
- **Customer Retention**: 94%+ retention rate driven by service quality and value, with pricing increases exceeding cost inflation.


Republic Services (RSG)-24 Apr 25-2025 Q1 Earnings call transcript

- **Revenue and Margin Growth**: 2024 revenue up 7%, with 140 basis points margin expansion. 2025 targets 30 basis points margin growth, driven by pricing and cost control.
- **Sustainability Impact**: $70M incremental revenue from RNG and Polymer Centers in 2025. 150+ EVs to be added, supporting zero-emission goals.
- **Customer Engagement**: 94% retention rate and improved Net Promoter Scores highlight digital innovation success.
- **Acquisition Momentum**: $1B M&A target for 2025, with $70M already contributing to guidance.
- **Risk Management**: Commodity price headwinds and CNG tax credit uncertainty offset by strong free cash flow and balance sheet.


**【CEO Summary Section】**
- **Revenue Growth**: Achieved 7% revenue growth in 2024, driven by strong pricing (4.4% yield on total revenue) and margin expansion of 140 basis points. 2025 guidance includes revenue of $16.85B-$16.95B and adjusted EBITDA of $5.275B-$5.325B.
- **Sustainability Initiatives**: Polymer Centers and RNG projects expected to contribute $70M in incremental revenue and $35M in EBITDA in 2025. 150+ electric vehicles (EVs) to be added by year-end, with 30 facilities having EV charging infrastructure.
- **Customer Loyalty**: Retention rate over 94%, with Net Promoter Scores improving due to digital tools like RISE platform, which generated $60M in incremental revenue in its first year.

**【CFO Financial Commentary】**
- **2024 Financials**: Adjusted EBITDA of $5.2B, EPS of $6.46, and free cash flow of $2.18B. 2025 guidance includes EPS of $6.82-$6.90 and free cash flow of $2.32B-$2.36B.
- **Margin Expansion**: 110 basis points of EBITDA margin expansion in Q4, driven by pricing exceeding cost inflation. 2025 expects 30 basis points of margin expansion, with underlying business contributing 50-60 basis points.
- **Acquisition Activity**: $358M invested in 2024, with 2025 target of $1B in M&A, including $70M from closed deals already rolled into guidance.
- **Leverage and Liquidity**: Debt of $12.8B at year-end, leverage ratio of 2.6x. 2025 net interest expense projected at $565M.

**【Q&A Highlights】**
- **Environmental Solutions (ES) Growth**: ES revenue up nearly $70M in Q4, margin expanded 500+ basis points to 24.7%. 2025 expects organic growth and cross-sell opportunities post-ERP integration.
- **Commodity Risks**: Recycling commodity prices assumed at $145/ton for 2025, down from 2024's $164/ton, creating 10 basis points headwind.
- **Labor Market**: Turnover improved 150 basis points in 2024, reaching a decade low. Employee engagement score of 86 reflects strong retention strategies.
- **RNG and EVs**: 7 new RNG projects expected in 2025, supporting decarbonization goals. EV deployment continues despite regulatory uncertainty.


Actual																	0.77	0.81	1	1	0.93	1.09	1.11	1.02	1.14	1.32	1.34	1.13	1.24	1.41	1.54	1.41	1.45	1.61	1.81	1.58	1.58	1.77	1.9	1.76
Forecast																	0.7524	0.5926	0.815	0.8068	0.8461	0.956	1.0476	1.0104	1.0463	1.1847	1.2211	1.0203	1.1267	1.3241	1.4253	1.2878	1.3484	1.5588	1.6126	1.3966	1.5304	1.7657	1.8295	1.6241
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+2.34%	+36.69%	+22.70%	+23.95%	+9.92%	+14.02%	+5.96%	+0.95%	+8.96%	+11.42%	+9.74%	+10.75%	+10.06%	+6.49%	+8.05%	+9.49%	+7.53%	+3.28%	+12.24%	+13.13%	+3.24%	+0.24%	+3.85%	+8.37%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	2.55B	2.45B	2.57B	2.57B	2.60B	2.81B	2.93B	2.95B	2.97B	3.41B	3.60B	3.53B	3.58B	3.73B	3.83B	3.83B	3.86B	4.05B	4.08B	4.05B	4.01B	4.24B	4.21B	4.14B
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	2.52B	2.39B	2.58B	2.57B	2.62B	2.71B	2.84B	2.87B	2.89B	3.30B	3.54B	3.48B	3.44B	3.73B	3.81B	3.73B	3.89B	4.04B	4.12B	4.07B	4.05B	4.26B	4.24B	4.21B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+1.22%	+2.63%	-0.16%	+0.29%	-0.79%	+3.63%	+3.41%	+2.82%	+2.90%	+3.56%	+1.62%	+1.55%	+4.19%	-0.18%	+0.46%	+2.64%	-0.76%	+0.24%	-1.05%	-0.67%	-0.90%	-0.48%	-0.62%	-1.72%

RSG

RSG fundamentals

RSG Q4 2025 Earnings

Earnings Call

You can ask Aime

RSG

RSG fundamentals

RSG Q4 2025 Earnings

Earnings Call

RSG Earnings Call Summary for Q4/20255:00 PM on Feb 17, 2026

RSG Earnings Call Summary for Q3/20255:00 PM on Oct 30, 2025

RSG Earnings Call Summary for Q2/20255:00 PM on Jul 29, 2025

RSG Earnings Call Summary for Q1/20255:00 PM on Apr 24, 2025

RSG Earnings Call Summary for Q4/20245:00 PM on Feb 13, 2025

You can ask Aime