Republic Services, Inc. reported net income of $550 million, or $1.75 per diluted share, for the three months ended June 30, 2025, versus $512 million, or $1.62 per diluted share, for the comparable 2024 period. Excluding certain expenses and other items, on an adjusted basis, net income for the three months ended June 30, 2025, was $556 million, or $1.77 per diluted share, versus $509 million, or $1.61 per diluted share, for the comparable 2024 period.
“We are pleased with our second quarter results, which demonstrate the resilience of our business model and the benefit of the investments in our differentiated capabilities,” said Jon Vander Ark, president and chief executive officer.
Second-Quarter and Year-to-Date 2025 Highlights:
- Total revenue growth of 4.6 percent includes 3.1 percent organic growth and 1.5 percent growth from acquisitions.
- Core price on total revenue increased revenue by 5.7 percent. Core price on related business revenue increased revenue by 7.0 percent, which consisted of 8.6 percent in the open market and 4.6 percent in the restricted portion of the business.
- Revenue growth from average yield on total revenue was 4.1 percent, and volume increased revenue by 0.2 percent. Revenue growth from average yield on related business revenue was 5.0 percent, and volume increased related business revenue by 0.2 percent.
- Net income was $550 million, or a margin of 13.0 percent.
- EPS was $1.75 per share, an increase of 8.0 percent over the prior year.
- Adjusted EPS, a non-GAAP measure, was $1.77 per share, an increase of 9.9 percent over the prior year.
- Adjusted EBITDA, a non-GAAP measure, was $1.36 billion, and adjusted EBITDA margin, a non-GAAP measure, was 32.1 percent of revenue, an increase of 100 basis points over the prior year.
- Year-to-date cash flow from operations was $2.13 billion.
- Year-to-date adjusted free cash flow, a non-GAAP measure, was $1.42 billion.
- Year-to-date cash invested in acquisitions was $888 million.
- Year-to-date cash returned to shareholders was $407 million, which included $45 million of share repurchases and $362 million of dividends paid.
The Company’s average recycled commodity price per ton sold at its recycling centers during the second quarter was $149. This represents a decrease of $24 per ton over the prior year.
The Company completed and commenced operations on four renewable natural gas projects during the quarter.
Company Increases Quarterly Dividend
Republic continues to increase cash returns to shareholders, and previously announced that its board of directors approved a 4.5 cent increase in the quarterly dividend. The quarterly dividend of $0.625 per share for shareholders of record on October 2, 2025, will be paid on October 15, 2025.
Published September 2025