The earnings call presented a mixed sentiment with solid revenue and earnings growth, strong customer retention, and advancements in sustainability and acquisitions. However, challenges such as declines in Environmental Solutions revenue, softness in construction and manufacturing, labor disruptions, and lower commodity prices presented headwinds.

Company Guidance -

Q3 2025

During the Republic Services Second Quarter 2025 Investor Conference Call, the company reported a revenue growth of 4.6% and an adjusted EBITDA growth of 8%, with an expansion of adjusted EBITDA margin by 100 basis points. The adjusted earnings per share were $1.77, and the year-to-date adjusted free cash flow was $1.42 billion. The company recorded an organic revenue growth driven by strong pricing, with an average yield on total revenue at 4.1% and on related revenue at 5%. Despite some headwinds in Environmental Solutions revenue due to sluggish manufacturing activity and tariff uncertainties, Republic Services maintained a strong customer retention rate of over 94%. They updated their full-year 2025 financial guidance, expecting revenue between $16.675 billion and $16.75 billion, adjusted EBITDA between $5.275 billion and $5.325 billion, and adjusted earnings per share between $6.82 and $6.90. The adjusted free cash flow guidance was raised to a range of $2.375 billion to $2.415 billion, reflecting benefits from recent tax legislation. The company also highlighted progress in sustainability initiatives and strategic acquisitions.

Revenue and Earnings Growth

Republic Services achieved revenue growth of 4.6% and adjusted EBITDA growth of 8% in Q2 2025, with an adjusted earnings per share of $1.77.

Customer Retention and Satisfaction

The customer retention rate remained strong at more than 94%, with favorable trends in Net Promoter Score due to service quality.

Sustainability Initiatives

The company made progress on sustainability goals, including the commercial production commencement at the Indianapolis Polymer Center and advancements in renewable natural gas projects.

Dividend Increase

Republic Services announced an increase in the dividend for the 22nd consecutive year.

Strong Acquisition Activity

Year-to-date, nearly $900 million invested in strategic acquisitions, with an acquisition pipeline supportive of further activity.

Improved Free Cash Flow Guidance

Adjusted free cash flow guidance increased to a range of $2.375 billion to $2.415 billion, reflecting benefits from bonus depreciation.

Republic Services (RSG) Earnings, Revenues Date & History

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RSG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	1.79 / -	1.81	―	―	―
Jul 29, 2025	2025 (Q2)	1.77 / 1.77	1.61	9.94% (+0.16)	―
Apr 24, 2025	2025 (Q1)	1.53 / 1.58	1.45	8.97% (+0.13)	―
Feb 13, 2025	2024 (Q4)	1.40 / 1.58	1.41	12.06% (+0.17)	―
Oct 29, 2024	2024 (Q3)	1.61 / 1.81	1.54	17.53% (+0.27)	―
Jul 24, 2024	2024 (Q2)	1.56 / 1.61	1.41	14.18% (+0.20)	―
Apr 30, 2024	2024 (Q1)	1.35 / 1.45	1.24	16.94% (+0.21)	―
Feb 27, 2024	2023 (Q4)	1.29 / 1.41	1.13	24.78% (+0.28)	―
Oct 26, 2023	2023 (Q3)	1.43 / 1.54	1.34	14.93% (+0.20)	―
Jul 31, 2023	2023 (Q2)	1.32 / 1.41	1.32	6.82% (+0.09)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RSG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$246.01	$231.69	-5.82%
Apr 24, 2025	$240.19	$242.98	+1.16%
Feb 13, 2025	$223.42	$230.27	+3.07%
Oct 29, 2024	$202.75	$197.30	-2.69%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.