On February 13, 2025, Republic Services, Inc. (NYSE: RSG) announced robust financial results for the fourth quarter and full year of 2024. The company reported a net income of $512 million, equivalent to $1.63 per diluted share, marking a significant increase from the $440 million, or $1.39 per diluted share, recorded in the same quarter of 2023. On an adjusted basis, net income for Q4 2024 was $497 million, or $1.58 per diluted share, up from $446 million, or $1.41 per diluted share, year-over-year.

Jon Vander Ark, President and CEO of Republic Services, expressed pride in the company’s performance, stating, "We delivered another strong year of results in 2024, made possible by effectively executing our strategy to meet customer needs and profitably grow the business." He highlighted a double-digit growth in EBITDA, earnings, and free cash flow, along with a 140 basis point expansion in adjusted EBITDA margin.

Fourth Quarter Highlights

Total Revenue Growth: The company achieved total revenue growth of 5.6%, consisting of 4.3% organic growth and 1.3% from acquisitions.

Core Pricing: Core pricing on total revenue increased revenue by 6.1%, while related business revenue saw a 7.3% increase.

Adjusted EBITDA: For Q4 2024, adjusted EBITDA was reported at $1.25 billion, representing a margin of 31.0% of revenue, a year-over-year increase of 110 basis points.

Average Recycled Commodity Prices: The average recycled commodity price per ton sold at recycling centers rose to $153, an increase of $22 from the previous year.

Renewable Initiatives: Republic Services completed and commenced operations on two renewable natural gas projects during the quarter.

2. Full-Year Results Reflect Steady Growth

For the full year 2024, Republic Services reported a total revenue growth of 7.1%, with 4.5% coming from organic growth and 2.6% attributable to acquisitions. Key highlights from the year include:

Net Income: The company achieved a net income of $2.04 billion, with a consistent margin of 12.7%.

Earnings Per Share (EPS): Full-year EPS was reported at $6.49, an increase of 18.6% compared to 2023.

Adjusted Free Cash Flow: Adjusted free cash flow reached $2.18 billion, reflecting a 10.0% increase from the prior year.

Shareholder Returns: Republic Services returned nearly $1.2 billion to shareholders through dividends and share repurchases, including $687 million in dividends and $490 million in share repurchases.

3. 2025 Financial Guidance

Looking ahead, Republic Services provided its financial guidance for 2025, projecting revenue between $16.850 billion and $16.950 billion. The company anticipates average yield growth of approximately 4% on total revenue and around 5% on related revenue. Additionally, adjusted EBITDA is expected to be in the range of $5.275 billion to $5.325 billion, with adjusted diluted earnings per share estimated between $6.82 and $6.90.

Vander Ark commented on the upcoming year, stating, "We expect to deliver another strong year of profitable growth in 2025," supported by effective pricing strategies and continued investments in sustainability and productivity enhancements.

Quarterly Dividend Announced

The company’s Board of Directors has declared a regular quarterly dividend of $0.58 per share for shareholders of record on April 2, 2025, to be paid on April 15, 2025.

4. Conclusion

Republic Services, Inc. has demonstrated solid financial performance through 2024, marked by significant growth in earnings and strategic investments in sustainable practices. With a positive outlook for 2025, the company remains committed to enhancing shareholder value and expanding its environmental services footprint. As the demand for sustainable waste management solutions continues to rise, Republic Services is well-positioned to capitalize on market opportunities while delivering strong financial results.

Original press release