Republic Svcs Stock Price, News & Analysis

Republic Services, Inc. (NYSE: RSG) announced it will release its Q2 2021 financial results on July 29, 2021, after market close. The company will host an investor conference call at 5 p.m. ET on the same day, accessible via their Investor Relations website or through designated phone numbers. Pre-registration is encouraged for dial-in participants. A replay of the call will be available until August 5, 2021. Republic Services is a leading player in the U.S. environmental services sector, committed to sustainability.

Republic Services (NYSE: RSG) has been recognized in 3BL Media's 100 Best Corporate Citizens of 2021 for outstanding environmental, social, and governance (ESG) performance. This marks the second consecutive year the company has received this honor. The ranking evaluates 1,000 large U.S. companies based on 146 ESG indicators. CEO Don Slager emphasized the importance of sustainability and ethics in their business strategy. Additionally, the company launched a $30 million initiative, Committed to Serve, supporting communities and employees, while continuing to progress toward its 2030 sustainability goals.

Republic Services reported a strong first quarter of 2021, achieving a net income of $295.9 million, or $0.93 per diluted share, compared to $246.3 million, or $0.77, in Q1 2020. Adjusted earnings per share also increased by 24% to $0.93. Operating cash flow rose 11% to $661 million, while adjusted free cash flow surged 62% to $464.2 million. The company expanded its adjusted EBITDA margin by 270 basis points to 30.7%. Following this solid performance, Republic raised its full-year adjusted EPS guidance to between $3.74 and $3.79, and its free cash flow guidance to $1.35-$1.4 billion.

OPAL Fuels and NextEra Energy Marketing have announced plans to construct Minnesota's first landfill renewable natural gas (RNG) production facility. This facility will replace an existing power generation site at the Pine Bend Landfill and is projected to produce over 6 million gas gallon equivalents of RNG annually. The project aims to reduce carbon emissions significantly, equivalent to taking 435,000 cars off the road each year. Construction will create about 50-60 jobs, with completion expected in Q1 2022.

Republic Services has launched its first Northern California organics pre-processing facility in Martinez, designed to comply with California's SB 1383 law, effective January 1, 2022. This facility processes 20 tons of food waste per hour from local businesses, converting it into renewable energy in partnership with the East Bay Municipal Utility District. The initiative supports sustainability goals, aiming to recover 40% of key materials from waste by 2030. With over 500 business customers participating, this move positions Republic Services as a leader in the organics recycling sector.

On April 15, 2021, Republic Services reported significant increases in recycling trends due to the pandemic, highlighting shifts in consumer behavior toward at-home consumption. Key figures include a 63% rise in residential cardboard recycling, 17% for aluminum, 13% for glass, and 7% for plastic bottles. Moreover, the company processed 20% more organic waste in 2020, converting it into over 500,000 tons of compost. The data underlines growing consumer awareness regarding sustainability and the importance of proper recycling methods.

Republic Services (RSG) has announced that Donald W. Slager will retire as CEO after over a decade, effective June 25, 2021. His successor, Jon Vander Ark, currently the President, will take over the role while also joining the Board of Directors. This transition follows a comprehensive succession planning process. Vander Ark expressed confidence in leading the company forward, citing positive momentum in the business. Slager leaves behind a legacy of sustainable shareholder value and a strong corporate culture.

Republic Services (RSG) announced its first climate disclosure report, adhering to the Task Force on Climate-related Financial Disclosures (TCFD). This report highlights the company's climate-related risks and opportunities, marking a significant step in the environmental services industry. CEO Donald W. Slager emphasized the importance of transparency and commitment to developing low-carbon solutions. The TCFD report covers governance, strategy, risk management, and metrics. Republic aims for ongoing evaluations and disclosures to better inform stakeholders on climate impacts.

On March 26, 2021, Republic Services (NYSE: RSG) announced the appointment of Brian S. Tyler, Ph.D. to its Board of Directors, expanding its membership to 12. Tyler, CEO of McKesson Corporation, brings 24 years of executive experience to the company. He will serve on both the Audit Committee and the Sustainability & Corporate Responsibility Committee. Donald W. Slager, CEO of Republic Services, expressed confidence that Tyler's extensive leadership expertise will enhance the company's capabilities in environmental services.