$RSG · REPUBLIC SERVICES, INC.
Republic Services filed its 10-Q for the quarter ended September 30, 2026. Revenue grew 8.2% YoY to $4,559M, net income attributable to Republic rose to $592M ($1.93 diluted EPS) from $550M ($1.76), and operating income increased to $921M from $836M. The company continued aggressive capital return: $856M in share repurchases over nine months and a quarterly dividend raised to $0.67 per share from $0.625.
- Q3 revenue of $4,559M, up 8.2% YoY from $4,212M; nine-month revenue $13,103M vs $12,456M.
- Q3 diluted EPS of $1.93 vs $1.76 a year ago; nine-month EPS $5.47 vs $5.10.
- Operating income rose to $921M in Q3 from $836M; operating margin expanded to 20.2% from 19.8%.
- Company repurchased $856M of common stock in the first nine months of 2026, up from $599M in the prior-year period.
- Adjusted EBITDA for Q3 reached $1,449M vs $1,383M; nine-month Adjusted EBITDA $4,194M vs $4,012M.
Extended-hours trading shows RSG at $241.94, up +2.40% vs the regular-session close of $236.28, indicating a positive initial reaction to the Q3 beat and strong buyback activity.
Republic's combination of above-industry revenue growth, expanding margins, and aggressive buybacks ($856M YTD) signals strong capital allocation in a defensive sector.
Republic's 7.8% revenue growth and margin expansion outpace typical waste-industry mid-single-digit growth, reinforcing its position alongside WM and Waste Connections in the consolidating environmental-services sector.
Loss from unconsolidated equity method investments widened to $158M in the nine-month period from $72M a year ago, a potential drag on earnings. Long-term debt increased to $14,007M from $12,985M at year-end 2025, reflecting acquisition financing.