Republic Services sees 3.8% revenue increase in Q1 of 2025

Republic Services, Inc. reported its financial results for the first quarter of 2025. The total net income came out to $495 million for the three months ended March 31, 2025, versus $454 million for the same period last year. 

First quarter 2025 highlights:

• Total revenue growth of 3.8 percent includes 2.9 percent organic growth and 0.9 percent growth from acquisitions. The impact of one less work day decreased revenue by 50 basis points compared to the same period in 2024.
• Core price on total revenue increased revenue by 6.1 percent. Core price on related business revenue increased by 7.3 percent, which consisted of 9 percent in the open market and 4.6 percent in the restricted portion of the business.
• Revenue growth from average yield on total revenue was 4.5 percent, and volume decreased revenue by 1.2 percent. Revenue growth from average yield on related business revenue was 5.4 percent, and volume decreased related business revenue by 1.5 percent.
• Net income was $495 million, or a margin of 12.3 percent.
• EPS was $1.58 per share, an increase of 9.7 percent over the prior year.
• Adjusted EPS, a non-GAAP measure, was $1.58 per share, an increase of 9.0 percent over the prior year.
• Adjusted EBITDA, a non-GAAP measure, was $1.27 billion, and adjusted EBITDA margin, a non-GAAP measure, was 31.6 percent of revenue, an increase of 140 basis points over the prior year.
• Cash invested in acquisitions was $826 million.
• Cash returned to shareholders was $226 million, which included $45 million of share repurchases and $181 million of dividends paid.
• The Company's average recycled commodity price per ton sold at its recycling centers during the first quarter was $155. This represents an increase of $2 per ton over the prior year.
• The Company completed and commenced operations on one renewable natural gas project during the quarter.

Republic was recognized by several leading organizations during the quarter, including:

• Barron's 2025 100 Most Sustainable Companies List
• Ethisphere's 2025 World's Most Ethical Companies List
• Fortune's 2025 Most Innovative Companies List

"We are off to a solid start to the year, and our business continues to perform well even with increased volatility in the broader economy," said Jon Vander Ark, president and chief executive officer. "While topline results were impacted by sluggish cyclical volumes and challenging winter weather, we generated high single-digit growth in EBITDA and 140 basis points of adjusted EBITDA margin expansion by pricing ahead of cost inflation and effective cost management. Our ability to produce these results reflects the resiliency of our business model and the financial benefits we are delivering by investing in our differentiating capabilities."