Republic Services, Inc. (NYSE: RSG) reported strong financial results for the first quarter of 2025, posting a net income of $495 million, or $1.58 per diluted share, compared to $454 million, or $1.44 per diluted share, in the same period of 2024. On an adjusted basis, which excludes certain expenses and items, net income was $496 million, or $1.58 per diluted share, up from $458 million, or $1.45 per share, a year earlier. President and CEO Jon Vander Ark noted that despite economic volatility, weak cyclical volumes, and challenging winter weather, the company delivered high single-digit EBITDA growth and expanded its adjusted EBITDA margin by 140 basis points. He credited this performance to effective pricing strategies, disciplined cost control, and Republic’s resilient business model.
During the quarter, Republic achieved total revenue growth of 3.8%, which included 2.9% organic growth and 0.9% growth from acquisitions. A calendar difference of one less workday impacted revenue by 50 basis points. Core pricing contributed 6.1% growth to total revenue, with related business core price increasing revenue by 7.3%—driven by a 9.0% rise in the open market and 4.6% in the restricted segment. Average yield increased total revenue by 4.5%, while volume declines reduced it by 1.2%. In related business, yield added 5.4% and volume fell 1.5%. Net income margin stood at 12.3%, and adjusted EBITDA rose to $1.27 billion, with a margin of 31.6%, up 140 basis points year-over-year.
Republic invested $826 million in acquisitions and returned $226 million to shareholders through $45 million in share repurchases and $181 million in dividends. The average recycled commodity price was $155 per ton, a $2 increase from the prior year. Additionally, the company launched a renewable natural gas project during the quarter. Republic Services also received several accolades, being named to Barron’s 2025 100 Most Sustainable Companies list, Ethisphere’s 2025 World’s Most Ethical Companies® list, and Fortune’s 2025 Most Innovative Companies list.
Republic Services, Inc. is a leader in the environmental services industry. Through its subsidiaries, the Company provides customers with the most complete set of products and services, including recycling, solid waste, special waste, hazardous waste and field services. Republic’s industry-leading commitments to advance circularity and support decarbonization are helping deliver on its vision to partner with customers to create a more sustainable world.
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