Republic Services 8-K
PositiveEarningsGuidance raised
Pricing and Environmental Solutions growth offset lower volume; FY2026 outlook raised and $5B buyback authorized for 2027–2029.
Filed 2026-10-29 16:10 ET
- 2.02 Results of Operations
- 7.01 Regulation FD Disclosure
- 8.01 Other Events
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results with updated FY2026 guidance. Revenue rose 8.2% as pricing and Environmental Solutions growth more than offset lower volume; the company raised its revenue, adjusted EBITDA and adjusted free cash flow outlooks. The board authorized $5B of share repurchases for 1/1/2027–12/31/2029 and declared a $0.670-per-share quarterly dividend, payable 1/15/2027 to shareholders of record on 1/4/2027.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Revenue | $4.56B, +8.2% Y/Y | $13.1B, +5.2% Y/Y |
| Operating income | $921M, +10.2% Y/Y | $2.65B, +6.0% Y/Y |
| Net income attributable to Republic Services, Inc. | $592M, +7.6% Y/Y | $1.68B, +5.5% Y/Y |
| Diluted EPS | $1.93, +9.7% Y/Y | $5.47, +7.3% Y/Y |
| Adjusted diluted EPS, non-GAAP | $1.94, +2.1% Y/Y | $5.49, +4.4% Y/Y |
| Cash provided by operating activities | — | $3.52B, +6.2% Y/Y |
| Adjusted free cash flow, non-GAAP | — | $2.28B, +3.9% Y/Y |
- Q3 revenue growth included 5.3% core price, 2.1% growth from Environmental Solutions and 1.3% from acquisitions; volume reduced revenue by 0.6%.
- Environmental Solutions revenue increased to $529M from $433M Y/Y; Recycling & Waste revenue was $4.03B vs $3.78B.
- YTD acquisitions used $1.12B of cash. The company returned $1.43B to shareholders YTD, including $848M of share repurchases and $577M of dividends. In Q3 it repurchased 0.9M shares for $197M; weighted-average diluted shares were 306.5M vs 312.0M Y/Y. Adjusted free cash flow excludes debt service and dividend payments.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | FY2026 | $17.425B-$17.475B | — | Raised |
| Net income attributable to Republic Services, Inc., GAAP | FY2026 | $2.210B-$2.220B | — | — |
| Adjusted EBITDA, non-GAAP | FY2026 | $5.550B-$5.575B | — | Raised |
| Cash provided by operating activities | FY2026 | $4.510B-$4.570B | — | — |
| Adjusted free cash flow, non-GAAP | FY2026 | $2.565B-$2.585B | — | Raised |
Guidance changes, derived from earlier filings
| Metric | Period | Earlier guidance | Guidance now | Change |
|---|---|---|---|---|
| Revenue | FY2026 | $17.2B-$17.3B | $17.425B-$17.475B | raised |
| Net income attributable to Republic Services, Inc., GAAP | FY2026 | $2.21B-$2.22B | $2.210B-$2.220B | reaffirmed |
| Adjusted EBITDA, non-GAAP | FY2026 | $5.525B-$5.550B | $5.550B-$5.575B | raised |
| Cash provided by operating activities | FY2026 | $4.485B-$4.560B | $4.510B-$4.570B | raised |
| Adjusted free cash flow, non-GAAP | FY2026 | $2.540B-$2.575B | $2.565B-$2.585B | raised |
Investor Takeaways
- Track whether Environmental Solutions revenue growth continues and whether volume’s drag eases; Q3 Environmental Solutions revenue was $529M and total volume reduced revenue by 0.6%.
- Compare FY2026 revenue, adjusted EBITDA and adjusted free cash flow with their guided ranges; the outlook assumes no significant change in overall economic conditions.
- Watch the pace of repurchases under the new $5B authorization, which begins 1/1/2027 and runs through 12/31/2029.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-29 22:48:38Z