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Republic Services, Inc. reports news on its environmental services business, including recycling, solid waste, special waste, hazardous waste and field services delivered through subsidiaries. Company updates commonly address pricing, cost management, adjusted EBITDA, free cash flow, acquisitions, shareholder returns and full-year financial guidance, as well as activity in its recycling and waste and Environmental Solutions businesses.
Other recurring developments include board and corporate governance actions, ethics and compliance recognition, charitable and community programs, and circularity or decarbonization initiatives such as landfill gas-to-renewable natural gas projects connected to Republic-operated landfill assets.
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On February 27, 2023, Republic Services (NYSE: RSG) announced the winners of the 2023 ROAD-EO National Championship, showcasing top drivers and technicians in the environmental services field. The event took place on February 21 at Wild Horse Pass Motorsports Park in Phoenix, Arizona, with 93 competitors from 30 states and one Canadian province. Winners in various categories included CJ Hines in Residential Rear-Load and David Muns in Bulldozer, each receiving prizes up to $5,000 and additional paid time off. The competition highlights Republic's commitment to safety, boasting a safety performance nearly 40% better than the industry average.
Republic Services (NYSE: RSG) announced plans to enhance its electric truck fleet in a deal with Oshkosh Corporation, with expectations that electric vehicles (EVs) will make up half of new truck purchases by 2028. The company will begin operating two electric recycling and waste truck prototypes in Phoenix this fall, expanding further in 2024 to Santa Ana, Carlsbad, and Portland. Republic, operating a fleet of 17,000 trucks, aims to reduce Scope 1 and 2 greenhouse gas emissions by 35% by 2030 and has the industry's largest commitment to fleet electrification.
Republic Services reported a 20% total revenue growth in Q4 2022, with approximately 11% growth from acquisitions. Net income for Q4 reached $346.8 million, resulting in an EPS of $1.09, a 11.2% increase year-over-year. The company generated $3.19 billion in cash flow from operations and invested $2.7 billion in acquisitions, returning $796 million to shareholders. Full-year net income was $1.49 billion, translating to $4.69 EPS, exceeding guidance by 15% in adjusted free cash flow and 18% in adjusted EPS. The company maintains a strong position for growth in 2023.
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Republic Services (NYSE: RSG) organized a multi-city volunteer campaign in honor of Martin Luther King Jr. Day, aiming to strengthen community support. Events took place in Chicago, Detroit, and Memphis, where company volunteers engaged in various service activities. The Republic Services Charitable Foundation contributed $100,000 in total to partner organizations. Notably, in Detroit, volunteers aided the foster care system, while in Chicago, they collaborated with Rebuilding Together Metro Chicago to revitalize community facilities. Memphis efforts focused on beautification projects and litter cleanup, with additional donations amounting to $70,000 across the three cities.
Republic Services, Inc. (RSG) announced the release date for its fourth quarter 2022 financial results, scheduled for February 15, 2023, after market close. An investor conference call will follow at 5 p.m. ET. Participants can join via the Company’s Investor Relations page or by phone. Pre-registration is encouraged for immediate access. The replay will be available until February 22, 2023. Republic Services is a leader in environmental services, focusing on sustainability and reducing emissions. More details can be found on RepublicServices.com.
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Republic Services (NYSE: RSG) highlights consumer misconceptions about plastics recycling ahead of America Recycles Day on November 15. A recent survey of over 2,000 U.S. consumers revealed that 61% mistakenly believe flexible plastics are recyclable. While 64% claim to understand recycling, actual recycling rates for common items like water bottles (62%) and milk jugs (51%) remain suboptimal. The company aims to educate consumers on proper recycling practices, underscoring the increasing demand for high-quality recycled plastics as brands set ambitious recycling targets.