Republic Services (RSG) Tops Q1 Earnings & Revenue Estimates
Zacks Investment Research | May 02, 2018 11:21PM ET
Republic Services, Inc. (NYSE:RSG) reported strong first-quarter 2018 results with earnings and revenues surpassing the Zacks Consensus Estimate.
Earnings per share came in at 74 cents compared with 55 cents in the year-ago quarter. Earnings beat the Zacks Consensus Estimate by 5 cents. The bottom line grew on higher revenues and the U.S. tax reform that decreased the company’s effective tax rate to 23.5% in the reported quarter.
Total first-quarter 2018 revenues of $2,427.5 million beat the Zacks Consensus Estimate of $2,404 million. The figure was up 1.5% year over year. Top-line growth includes a positive impact of 3.8% internal growth and 1.8% from acquisitions. All the segments recorded impressive performance in the reported quarter.
Internal growth was basically driven by 2.2% increase in average yield, 2% volume growth and increase in energy services revenues by 40 basis points. However, there was a negative impact of fuel recovery fees, which rose by 50 basis points.
During the quarter, Republic Services invested $26 million for tuck-in acquisitions.
Republic Services, Inc. Revenue (TTM)
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