- Phoenix, AZ-based Republic Services has announced its 2016 Q2 earnings, reporting a net income of $180.8 million compared to $190.3 million in the same period of 2015. The company posted revenues of $2.35 billion in Q2, representing a year-over-year gain of 1.7%.
- Other points include: adjusted EBITDA margin was steady at 28.3% of revenue, adjusted free cash flow was $337 million, and cost of operations as a percentage of revenue decreased to 61.3%.
- Republic also noted its focus on customer service, stating that 1.6 million customers have enrolled in its MyResource customer portal. This is a 200,000 person increase since Q1.
These second quarter earnings represent Republic's strong foothold in the industry among competitors like Waste Management. In a statement, President and CEO Donald Slager said, "Our second quarter results continue to demonstrate the stability and predictability of our business, and the strength of our operating model ... Strong pricing performance, positive volume growth and contributions from our strategic initiatives keep us well positioned to achieve our full year financial guidance."
Customer service has been at the heart of Republic's operations lately, which was truly exemplified when a driver saved the life of a stranger in Sacramento, CA earlier this month. Earlier in Q2, Republic opened its second customer resource center in Phoenix, and expects to open a third in Indianapolis later this year. By putting more resources into customer service, Republic is showing its loyalty to those who keep the business thriving.
Republic also noted its dedication to fleet maintenance, stating that 17% of its fleet now operates on natural gas and 73% of its fleet is now automated. The company completed the launch of its standardized maintenance program this quarter, and will likely have its entire fleet certified under that program by this time next year.