Republic Records Higher Earnings, Revenue for 2013

Allan Gerlat, News Editor

February 7, 2014

1 Min Read
Republic Records Higher Earnings, Revenue for 2013

Republic Services Inc. reported higher net earnings and revenue for the 2013 final quarter and year, aided by volume improvements.

The Phoenix-based Republic said that for the fourth quarter ended Dec. 31, net income nearly doubled to $236.6 million, or 66 cents per share, compared with $127 million, or 35 cents per share, in the year-ago period. Excluding certain one-time items, net income would have totaled $193.1 million in 2013 and $155.7 million in 2012, according to a news release.

Revenue for the quarter rose 5.6 percent to $2.14 billion compared with $2.03 billion a year earlier. Volume increased 2.5 percent and recyclable commodities 1 percent.

For the year, net earnings climbed 3 percent to $588.9 million, or $1.62 per diluted share, compared with $571.8 million, or $1.55 per diluted share, in 2012. Revenue for 2013 increased 3.7 percent to $8.42 billion from $8.12 billion in 2012.

"In 2013, we executed our strategy and delivered results that exceeded our EPS (earnings per share) and free cash flow guidance," said Donald Slager, president and CEO.

For its 2014 fiscal guidance Republic expects diluted earnings per share in the range of $1.93 to $1.98.  Revenue should increase 3.5 percent to 4.5 percent.

“We are focused on managing the controllable aspects of our business by enhancing the quality of our revenue, investing in profitable growth opportunities, and reducing costs,” Slager said.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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