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Republic Services beats quarterly profit estimates helped by higher pricing
Nov 3, 2024 2:30 PM

Oct 29 (Reuters) - Garbage management firm Republic

Services ( RSG ) beat quarterly profit estimates on Tuesday,

helped by higher prices and steady demand for garbage collection

and disposal.

The Phoenix, Arizona-based company reported a quarterly

adjusted profit of $1.81, comfortably beating analysts'

expectation of $1.61 per share, according to data compiled by

LSEG.

"By pricing ahead of cost inflation and effective cost

management, we delivered double-digit growth in adjusted EBITDA

and EPS," said CEO Jon Vander Ark.

Republic Services ( RSG ) and WM are the two leading

companies in the U.S. waste services industry and, along with

municipal waste departments, they dominate garbage collection

from residences in the country.

Rival WM raised its annual revenue forecast on Monday

following upbeat third-quarter results, betting on higher market

prices for its recyclable commodities and increased landfill

volumes.

Republic's revenue came in at $4.08 billion, up 6.5% from

last year. Analysts on average expected $4.12 billion.

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