Republic Services Posts Q3 EPS Beat, Revenue In Line; Boosts FY16 EPS Outlook In Line; Issues FY17 EPS Outlook In Line

Republic Services (RSG) rose 2% in Friday’s afternoon trade after the company reported financial results for Q3, with better-than-expected earnings and revenue that came in line; it raised its earnings guidance for fiscal 2016 and provided preliminary earnings outlook for fiscal 2017 in line with Street estimates.

The provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services posted Q3 earnings of $0.62 per share, compared with the prior-year period’s $0.53 per share. Analysts polled by Capital IQ were expecting EPS of $0.58.

Revenue was $2.41 billion, up from $2.34 billion in the same quarter last year. The Street view is for revenue of $2.41 billion.

The company raised its guidance for FY16 adjusted EPS to $2.19 – $2.20 from the prior outlook range of $2.13 – $2.17. The Street view is for EPS of $2.20.

For FY17, it sees adjusted EPS of $2.31 – $2.36, versus the Street view of $2.35.

Republic also said its board of directors declared a regular quarterly dividend of $0.32 per share for shareholders of record on Jan. 3, 2017. The dividend will be paid on Jan. 16, 2017.

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