Republic Services earnings
Republic Services' next results are expected on October 29, 2026. For Republic Services, the key thing to watch is whether volume, pricing and integration costs support the forecast.
What has Republic Services guided for 2026?
For the year ending December 2026, management guides to revenue of $17,200–$17,300 million, adjusted diluted EPS of $7.23–$7.28, and adjusted free cash flow of $2,540–$2,575 million. “Adjusted” means Republic excludes specified costs from the measure, so the exclusions matter when those costs recur.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Year to Dec 2026 | 17,200 | 17,300 | Aug 6, 2026 |
| Adjusted diluted earnings per share | Year to Dec 2026 | 7.23 | 7.28 | Aug 6, 2026 |
| Adjusted free cash flow | Year to Dec 2026 | 2,540 | 2,575 | Aug 6, 2026 |
| Acquisitions | Year to Dec 2026 | 1,200 | Aug 6, 2026 | |
| Property and equipment, net of proceeds from the sale of property and equipment | Year to Dec 2026 | 1,960 | 2,000 | Feb 17, 2026 |
What this means. The blank high value for acquisitions means the company expects to spend at least 1.2 billion dollars, but has not set a maximum.
Has Republic Services kept its past promises?
The 2025 scorecard shows how the system works. Adjusted earnings per share came just below its annual target, while free cash flow came above target. Before the sustainability adjustment, that produced a potential annual incentive of 94.29% of target. The committee then reduced incentives by 2.5 percentage points after reviewing safety, talent, climate and customer measures. Republic also exceeded its full-year adjusted earnings-per-share and free-cash-flow guidance, though that is not the same as hitting every compensation target.
What have Republic Services results looked like over the last eight quarters?
Revenue was $4.430 billion in Q2 2026, compared with $4.235 billion in Q2 2025. Gross margin was 42.1%, and operating income was $901 million. Net income was $566 million, diluted EPS was $1.84, and free cash flow was $761 million.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,430 | 4,113 | 4,136 | 4,212 | 4,235 | 4,009 | 4,046 | 4,076 |
| Operating income | 901 | 830 | 800 | 836 | 861 | 804 | 803 | 846 |
| Net income | 566 | 525 | 545 | 550 | 550 | 495 | 512 | 566 |
| EPS, diluted | 1.84 | 1.70 | 1.76 | 1.76 | 1.75 | 1.58 | 1.63 | 1.80 |
| Cash from operations | 1,153 | 1,227 | 981 | 1,181 | 1,109 | 1,025 | 1,022 | 1,003 |
| = Free cash flow | 761 | 751 | 404 | 737 | 702 | 566 | 524 | 564 |
What this means. The revenue numbers are for each three-month quarter, not the whole year.
What should Republic Services watch in the next release?
The company is scheduled to report Q3 2026 results after market close on October 29, followed by a conference call. Management expects the comparison with unusually high prior-year landfill volumes to weigh on Q3. Acquisition integration costs are also expected to be concentrated in Q3 and Q4.
The next results should be judged against volume, pricing and integration costs, while West Lake will remain unresolved until the cleanup plan and responsibility become clearer.