Dive Brief:
- Republic Services reported a net income of $172.4 million, or $0.49 per diluted share for the first quarter ending March 31, compared to $132.5 million during the same time in 2014, beating Zacks esimates by 5 cents.
- The waste and recycling company revenue increased in Q1 to approximately $2.17 billion, from about $2.08 billion for the same timeframe in 2014. Zacks forecast $2.13 billion.
- Earnings before interest, taxes, depreciation, depletion, amoritzation, and accretion (EBITDA) in the first quarter was $625.9 million, or 28.9% of revenue, compared with $574.8 million or 27.7% of revenue for the same period last year.
Dive Insight:
Donald W. Slager, the president and CEO of Republic Services said, “We started the year strong and continued to execute our strategic initiatives which helped drive earnings and free cash flow growth. Our 2015 plan assumed business conditions would continue to improve, which we confirmed with our first quarter performance.”