PR Newswire
PHOENIX, May 2, 2018
PHOENIX, May 2, 2018 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) today reported net income of $237.7 million, or $0.72 per diluted share, for the three months ended March 31, 2018, versus $187.8 million, or $0.55 per diluted share, for the comparable 2017 period. Excluding certain gains and expenses, on an adjusted basis, net income for the three months ended March 31, 2018, was $246.3 million, or $0.74 per diluted share, versus $187.3 million, or $0.55 per diluted share, for the comparable 2017 period.
"We are pleased with our strong start to the year. Through the execution of our strategy we delivered solid growth in both price and volume, expanded EBITDA margins and produced double-digit growth in earnings and free cash flow per share independent of the benefit from tax reform," said Donald W. Slager, president and chief executive officer. "Our first-quarter results position us well to achieve our full-year goals."
First-Quarter Highlights:
Company Declares Quarterly Dividend
Republic announced today that its Board of Directors declared a regular quarterly dividend of $0.345 per share for shareholders of record on July 2, 2018. The dividend will be paid on July 16, 2018.
Presentation of Certain Non-GAAP Measures
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Adjusted diluted earnings per share, adjusted net income, adjusted EBITDA, adjusted EBITDA margin, and adjusted free cash flow are described in the Reconciliation of Certain Non-GAAP Measures section of this document.
Unaudited Supplemental Schedules
Included in Exhibit 99.2 is a proforma presentation of our 2017 financial results had we adopted the new revenue recognition standard as of January 1, 2017.
About Republic Services
Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste disposal. Through its subsidiaries, Republic's collection companies, recycling centers, transfer stations and landfills focus on providing effective solutions to make proper waste disposal effortless for its 14 million customers. We'll handle it from here.®, the brand's promise, lets customers know they can count on Republic to provide a superior experience while fostering a sustainable Blue Planet® for future generations to enjoy a cleaner, safer and healthier world.
For more information, visit the Republic Services website at RepublicServices.com. "Like" Republic on Facebook at facebook.com/RepublicServices and follow Republic on Twitter @RepublicService.
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SUPPLEMENTAL UNAUDITED FINANCIAL INFORMATION | |||||||
AND OPERATING DATA | |||||||
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REPUBLIC SERVICES, INC. | |||||||
CONSOLIDATED BALANCE SHEETS | |||||||
(in millions, except per share amounts) | |||||||
| | | | ||||
| March 31, | | December 31, | ||||
| 2018 | | 2017 | ||||
| (Unaudited) | | | ||||
ASSETS | | | | | | | |
Current assets: | | | | ||||
Cash and cash equivalents | $ | 62.6 | | | $ | 83.3 | |
Accounts receivable, less allowance for doubtful accounts and other of $32.7 and $38.9, respectively | 1,052.2 | | | 1,105.9 | | ||
Prepaid expenses and other current assets | 239.2 | | | 247.6 | | ||
Total current assets | 1,354.0 | | | 1,436.8 | | ||
Restricted cash and marketable securities | 116.3 | | | 141.1 | | ||
Property and equipment, net | 7,783.1 | | | 7,777.4 | | ||
Goodwill | 11,329.1 | | | 11,315.4 | | ||
Other intangible assets, net | 121.3 | | | 141.1 | | ||
Other assets | 404.9 | | | 335.2 | | ||
Total assets | $ | 21,108.7 | | | $ | 21,147.0 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | | | |
Current liabilities: | | | | ||||
Accounts payable | $ | 572.4 | | | $ | 598.1 | |
Notes payable and current maturities of long-term debt | 707.0 | | | 706.7 | | ||
Deferred revenue | 341.5 | | | 312.1 | | ||
Accrued landfill and environmental costs, current portion | 140.4 | | | 135.2 | | ||
Accrued interest | 76.2 | | | 74.5 | | ||
Other accrued liabilities | 722.7 | | | 808.2 | | ||
Total current liabilities | 2,560.2 | | | 2,634.8 | | ||
Long-term debt, net of current maturities | 7,499.7 | | | 7,480.7 | | ||
Accrued landfill and environmental costs, net of current portion | 1,700.4 | | | 1,686.5 | | ||
Deferred income taxes and other long-term tax liabilities, net | 836.5 | | | 796.4 | | ||
Insurance reserves, net of current portion | 274.1 | | | 275.4 | | ||
Other long-term liabilities | 323.5 Werbung Mehr Nachrichten zur Republic Services Aktie kostenlos abonnieren
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