Dive Brief:
- Republic Services, Inc. announced its third quarter financials. The waste and recycling services firm reports net income of $185.8 million, up from $171.4 million from the same timeframe in 2013.
- Revenue in the third quarter is $2,264.1 million, up slightly from Q3 2013, when revenue was $2,165.4 million.
- Adjusted EBITDA was listed at $637.8 million in the third quarter of 2014 -- 28% of revenue compared with $638.2 million and 29.5% of revenue last year.
Dive Insight:
Donald W. Slager, the president and CEO of Republic Services, said that the third quarter performance matched the company’s expectations and that “revenue growth of approximately 5% reflects our ability to profitably grow the business and maintain average yield performance.”
"[R]ecent acquisitions demonstrate our ability and intent to complete larger transactions within our core space, increase free cash flow and improve returns,” he continued.
Slager concluded by saying the company is focused on exceptional customer service -- a message that is in alignment with a re-branding effort Republic launched in July highlighting the firm’s focus on reliability, simplicity, and commitment to customers and the environment.