American Recycler News, Inc.

 

Republic Services reports increased earnings

Republic Services, Inc. reported net income of $149.2 million, or $0.40 per diluted share, for the 3 months ended June 30, 2012, versus $46.5 million, or $0.12 per diluted share, for the comparable period last year.

Republic’s net income for the 3 months ended June 30, 2012 and 2011 includes a number of charges and other expenses that impacted its results. Excluding these items, net income for the three months ended June 30, 2012 and 2011 would have been $218.4 million, or $0.59 per diluted share, and $184.9 million, or $0.49 per diluted share, respectively.

Revenue for the 3 months ended June 30, 2012 decreased to $2,060.6 million compared to $2,086.6 million for the same period in 2011. This decrease in revenue of 1.2 percent was due to decreases in fuel surcharges of 0.1 percent, volumes of 1.3 percent and recycling commodities pricing of 1.0 percent, partially offset by increases in core price of 0.6 percent and acquisitions, net of divestitures of 0.6 percent.

For the 6 months ended June 30, 2012, net income was $292.1 million, or $0.79 per diluted share, versus $204.7 million, or $0.54 per diluted share, for the comparable period last year.

Republic’s net income for the six months ended June 30, 2012 and 2011 includes a number of charges, other expenses and benefits that impacted its results.

Revenue for the six months ended June 30, 2012 decreased to $4,043.0 million compared to $4,051.5 million for the same period in 2011. This decrease in revenue of 0.2 percent was made up of decreases in volumes of 0.6 percent and recycling commodities pricing of 0.9 percent, partially offset by increases in core price of 0.6 percent, fuel surcharges of 0.2 percent, and acquisitions, net of divestitures of 0.5 percent.

Republic’s board of directors declared a regular quarterly dividend of $0.235 per share for stockholders of record on October 1, 2012 to be paid on October 15, 2012.