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Waste management firm Republic Services beats profit estimates on price hikes
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Waste management firm Republic Services beats profit estimates on price hikes
Apr 30, 2024 3:22 PM

April 30 (Reuters) - Republic Services ( RSG ) reported

first-quarter profit above Wall Street estimates on Tuesday, as

it benefited from price hikes amid sustained demand for waste

collection and disposal.

The waste management firm reported a profit of $1.44 per, 9

cents above analysts estimates, according to LSEG data, due to

"continued pricing in excess of cost inflation.

First-quarter revenue of $3.86 billion was 7.8% higher than

last year, with the company having raised prices by 7% on its

services, even as volumes decreased by nearly 1% year-on-year.

Republic Services ( RSG ) and WM are the two leading

companies in the U.S. waste services industry. Along with

municipal waste departments, they dominate garbage collection

from residences in the country.

Shares of the company were up about 1% in trading after the

bell.

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