Republic Svcs Stock Price, News & Analysis

Republic Services announced an increase in packaging waste due to the surge in online shopping during the holiday season. As U.S. retail e-commerce sales are projected to rise by nearly 36%, proper recycling is emphasized to maintain the supply of recycled materials like paper and cardboard. Households generate 25% more waste during this period, equating to 1,000 extra pounds per household. The company urges the public to recycle effectively, highlighting that about 80% of holiday waste can be repurposed. For more tips, visit RecyclingSimplified.com.

Republic Services has announced a $1 million grant initiative to aid 43 locally owned businesses impacted by the COVID-19 pandemic, in partnership with twelve local Habitat for Humanity affiliates. This funding is part of Republic's broader $20 million Committed to Serve initiative, aimed at supporting employees, customers, and communities. Grants, ranging from $10,000 to $150,000, will facilitate critical repairs and operational support for various businesses across multiple states. This initiative aligns with Republic's sustainability goal to positively impact 20 million people through charitable efforts by 2030.

Republic Services closed an offering of $350 million 0.875% senior notes due November 2025 and $750 million 1.750% senior notes due February 2032. The net proceeds will finance the full redemption of its 3.550% senior notes due June 2022 and a partial redemption of its 4.750% senior notes due May 2023, expected on December 9, 2020. CFO Brian DelGhiaccio stated this will reduce cash interest costs by $26 million annually.

Republic Services (NYSE: RSG) announced a survey revealing that the COVID-19 pandemic has prompted a significant behavioral shift among consumers towards eco-friendly practices. Conducted by OnePoll, the survey indicates that 58% of 2,250 respondents are reassessing their environmental habits, with 65% acknowledging the pandemic as a catalyst for sustainable choices. Despite recognizing the importance of recycling, barriers such as lack of space and understanding affect participation. The company aims to support better recycling habits through its 'Recycling Simplified' education campaign.

Republic Services reported net income of $260.0 million ($0.81 per diluted share) for Q3 2020, down from $298.3 million ($0.93 per diluted share) in Q3 2019. Adjusted net income increased to $319.3 million ($1.00 per diluted share), up 11% year-over-year. Key highlights include a 6.8% increase in year-to-date cash operations to $1,909 million, and adjusted free cash flow enhancement by 13.8% to $1,109 million. The company raised its adjusted free cash flow guidance and announced a $2 billion share repurchase program set to begin January 1, 2021.

On October 22, 2020, Republic Services announced a $1 million grant to nine local affiliates of Rebuilding Together to aid small businesses affected by the COVID-19 pandemic. This funding, part of the Committed to Serve initiative, aims to support critical community projects, including renovations for minority-owned businesses. Grants range from $50,000 to $125,000 and will enhance local economies. The initiative also includes a total of $20 million devoted to community support and sustainability efforts.

On September 29, 2020, Republic Services (NYSE: RSG) announced its employees' recognition by the National Waste & Recycling Association (NWRA). Tommy Garcia, Tim Fields, and Ronald 'Keith' Dunn were honored as National Commercial Driver of the Year, National Industrial Driver of the Year, and Operator of the Year, respectively. Republic drivers have won 70% of Driver of the Year awards since 2009. The company emphasizes safety, with nearly 15,000 employees earning the Dedicated to Safety Award last year.