Republic Services raises 2026 forecast as Q3 revenue tops estimates

Republic Services, Inc. (RSG) reported third-quarter 2026 results on Oct. 29, with adjusted earnings of $1.94 per share and revenue of $4.559 billion. The company also raised its full-year 2026 revenue, adjusted EBITDA and adjusted free cash flow guidance.

The company provides recycling, solid waste, special waste, hazardous waste and field services, according to its release.

Here's how the company did:

• Adjusted EPS: $1.94 per share vs. $1.90 a year earlier, in line with the $1.95 consensus estimate compiled by Finnhub
• Revenue: $4.559 billion vs. $4.212 billion a year earlier, topping the $4.46 billion consensus estimate compiled by Finnhub

Reported earnings were $1.93 per share, up from $1.76 a year earlier, and net income was $592 million. Total revenue growth of 8.2% included 4.8% organic growth from the recycling and waste business, 2.1% from environmental solutions and 1.3% from acquisitions, the company said in its release.

Core price increased revenue by 5.3%, and volume decreased revenue by 0.6%. Adjusted EBITDA was $1.45 billion, a margin of 31.8% of revenue, down from 32.8% a year earlier.

"We delivered strong third quarter results that underscored the resilience of our business model and the effectiveness of our strategy," said Jon Vander Ark, president and chief executive officer.

2026 guidance

The company raised its revenue guidance to a range of $17.425 billion to $17.475 billion. Adjusted EBITDA guidance is now $5.550 billion to $5.575 billion.

Adjusted free cash flow guidance is $2.565 billion to $2.585 billion, up from the range of $2.540 billion to $2.575 billion it gave on Aug. 6. The guidance is based on current economic conditions.

Cash and capital returns

Year-to-date cash from operations was $3.52 billion, and adjusted free cash flow was $2.28 billion. The company invested $1.12 billion in acquisitions over the period.

Year-to-date cash returned to shareholders was $1.43 billion, including $848 million of share repurchases and $577 million of dividends paid.

The board on Oct. 28 approved a $5 billion share repurchase authorization, effective Jan. 1, 2027, and running through Dec. 31, 2029. As of Sept. 30, the remaining capacity under the prior authorization was $0.8 billion, available through Dec. 31, 2026.

The board also declared a regular quarterly dividend of $0.670 per share, payable Jan. 15, 2027, to shareholders of record on Jan. 4, 2027.