Republic Services, Inc. reported net income of $566 million, or $1.84 per diluted share, for the three months ended June 30, 2026, versus $550 million, or $1.75 per diluted share, for the comparable 2025 period. Excluding certain expenses and other items, on an adjusted basis, net income for the three months ended June 30, 2026, was $569 million, or $1.85 per diluted share, versus $556 million, or $1.77 per diluted share, for the comparable 2025 period.
“Our second quarter results reflect the strength and resilience of our business model, as we continue to execute our strategy and deliver differentiated value for our customers,” said Jon Vander Ark, president and chief executive officer. “Pricing in excess of cost inflation and our disciplined cost management supported accelerated growth in revenue and EBITDA. Given our strong operating performance and momentum across the business, we are increasing our full-year financial guidance.”
Second-Quarter and Year-to-Date 2026 Highlights:
- Total revenue growth of 4.6 percent includes 3.7 percent organic growth from our recycling and waste business, 0.2 percent decline from our environmental solutions business, and 1.1 percent growth from acquisitions.
- Core price on total revenue increased revenue by 5.3 percent. Core price on related business revenue increased revenue by 6.4 percent, which consisted of 7.8 percent in the open market and 4.1 percent in the restricted portion of the business.
- Revenue growth from average yield on total revenue was 3.4 percent, and volume decreased revenue by 1.6 percent. Revenue growth from average yield on related business revenue was 4.0 percent, and volume decreased related business revenue by 1.9 percent.
- Net income was $566 million, or a margin of 12.8 percent.
- EPS was $1.84 per share, an increase of 5.1 percent over the prior year.
- Adjusted EPS, a non-GAAP measure, was $1.85 per share, an increase of 4.5 percent over the prior year.
- Adjusted EBITDA, a non-GAAP measure, was $1.42 billion. Adjusted EBITDA margin, a non-GAAP measure, was 32.1 percent of revenue, which remained consistent with the prior year. The Company overcame 50 basis points of margin headwind from event driven landfill volumes received in the prior year.
- Year-to-date cash invested in acquisitions was $860 million.
- Year-to-date cash returned to shareholders was $1.04 billion, which included $651 million of share repurchases and $385 million of dividends paid.
- The company’s average recycled commodity price per ton sold at its recycling centers during the second quarter was $136. This represents a decrease of $13 per ton over the prior year.
- The company completed and commenced operations on two renewable natural gas projects during the quarter.
Republic continues to increase cash returns to shareholders, and previously announced that its board of directors approved an increase in the quarterly dividend. The quarterly dividend of $0.670 per share for shareholders of record on October 2, 2026, will be paid on October 15, 2026.
Published September 2026
