Republic Services sees its net income jump during the third quarter.

Stephen Ursery, Editor, Waste Age Magazine

November 1, 2010

1 Min Read
The Income Also Rises

Phoenix-based Republic Services posted a net income of $134.2 million on revenues of $2.06 billion during third-quarter 2010. During the same period in 2009, the firm posted a net income of $120.5 million on revenues of $2.07 billion.

"Our business remains on track, and our field organization continues to secure pricing growth in excess of inflation, achieve productivity improvements and maintain strong margins despite sluggish economic conditions," said Don Slager, president and chief operating officer of Republic Services, in a statement.

For the first nine months of this year, Republic Services posted a net income of $358.9 million on $6.09 billion in revenue. During the same period in 2009, the firm posted a net income of $459.4 million on $6.20 billion.

In other Republic news, the firm has announced plans to repurchase up to $400 million of its common stock. That amount currently represents about 3.5 percent of the firm's outstanding shares, Republic says.

"Given Republic's strong financial position and predictable cash flows, we are now able to return to our pre-merger strategy of returning a substantial portion of our free cash flow to shareholders by reinstating our share repurchase program and continuing our cash dividend program," said James E. O'Connor, chairman and CEO of Republic Services, in a statement. "We remain committed to maintaining our investment grade rating and are always seeking to reinvest in core business opportunities."

About the Author(s)

Stephen Ursery

Editor, Waste Age Magazine, Waste360

Stephen Ursery is the editor of Waste Age magazine. During his time as editor, Waste Age has won more than 20 national and regional awards. He has worked for Penton Media since August 1999. Before joining Waste Age as the magazine's managing editor, he was an associate editor for American City & County and for National Real Estate Investor.

Prior to joining Penton, Stephen worked as a reporter for The Marietta Daily Journal and The Fulton County Daily Report, both of which are located in metro Atlanta.

Stephen earned a BA in History from Rhodes College in Memphis, Tenn.

Stay in the Know - Subscribe to Our Newsletters
Join a network of more than 90,000 waste and recycling industry professionals. Get the latest news and insights straight to your inbox. Free.

You May Also Like