Wed, Oct 30, 10:11 AM (251 days ago)
For the quarter ending September 30, 2024, Republic Services, Inc. (RSG) reported revenue of $4,076.2 million, a 6.6% increase from $3,825.9 million in the prior year. Year-to-date revenue rose 7.7% to $11,986.0 million, driven by a 5.4% increase in average yield and contributions from acquisitions. Operating income for the quarter was $845.9 million, with profit margins improving to 20.8% compared to 19.0% in 2023. Net income attributable to shareholders was $565.7 million, translating to $1.80 per diluted share, up from $1.52 in the previous year. Cash flow from operations increased to $2,914.0 million, while cash used in investing activities totaled $1,748.5 million, primarily for acquisitions and capital expenditures. The company maintained strong liquidity with $206.0 million in cash and equivalents. Total debt stood at $12.6 billion, with a debt-to-EBITDA ratio of approximately 2.6, well below the covenant limit of 3.75. The company continues to focus on strategic acquisitions and enhancing operational efficiency, despite challenges from market conditions and rising costs.