Republic Services Tops Revenue Estimates at $4.56 Billion; Adjusted EPS $1.94

Republic Services (NYSE: RSG) reported third-quarter revenue of $4.56 billion, above the $4.42 billion analysts expected, and adjusted earnings of $1.94 per share against the $1.93 consensus estimate, in an 8-K filed Thursday, Oct. 29, 2026. Revenue rose 8.2 percent from a year earlier, and reported EPS of $1.93 was up 9.7 percent.

On a GAAP basis, net income attributable to Republic was $592 million, or a 13.0 percent margin, compared with $550 million a year earlier. Adjusted net income was $595 million, against $594 million in the prior-year period.

Growth drivers

Organic growth from the recycling and waste business contributed 4.8 percent to total revenue growth, environmental solutions added 2.1 percent, and acquisitions added 1.3 percent. Core price increased revenue by 5.3 percent, while volume reduced revenue by 0.6 percent. Adjusted EBITDA was $1.45 billion, a 31.8 percent margin.

Raised guidance and capital returns

Republic raised its full-year revenue, adjusted EBITDA and adjusted free cash flow guidance. It now expects revenue of $17.425 billion to $17.475 billion, above the $17.32 billion analysts expected for 2026. It expects adjusted EBITDA of $5.550 billion to $5.575 billion and adjusted free cash flow of $2.565 billion to $2.585 billion. Analysts had expected full-year adjusted EPS of $7.27. The release does not give full-year EPS guidance.

The board authorized a $5 billion share repurchase program effective Jan. 1, 2027, running through Dec. 31, 2029. It also declared a quarterly dividend of $0.670 per share, payable Jan. 15, 2027 to holders of record on Jan. 4, 2027.

Year-to-date results

Year-to-date cash from operations was $3.52 billion and adjusted free cash flow was $2.28 billion. The company invested about $1.1 billion in acquisitions during the first nine months and returned $1.43 billion to shareholders, including $848 million of share repurchases and $577 million of dividends paid.