Republic Services: 2Q Earnings Snapshot
PHOENIX (AP) _ Republic Services Inc. (RSG) on Thursday reported second-quarter net income of $251.5 million.
On a per-share basis, the Phoenix-based company said it had profit of 78 cents. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to 79 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The waste management company posted revenue of $2.61 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $2.62 billion.
Republic Services expects full-year earnings in the range of $3.23 to $3.28 per share.
Republic Services shares have climbed 21% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Thursday, shares hit $87.09, a climb of 23% in the last 12 months.