Republic Services: 3Q Earnings Snapshot
PHOENIX (AP) _ Republic Services Inc. (RSG) on Wednesday reported third-quarter profit of $298.3 million.
On a per-share basis, the Phoenix-based company said it had profit of 93 cents. Earnings, adjusted for one-time gains and costs, were 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The waste management company posted revenue of $2.65 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.69 billion.
Republic Services expects full-year earnings in the range of $3.28 to $3.30 per share.
Republic Services shares have climbed 23% since the beginning of the year, while the Standard & Poor’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $88.78, a climb of 23% in the last 12 months.