Republic Services, Inc. (NYSE:RSG) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On July27, 2017, Republic Services, Inc. (the Company) issued a press release containing information about the Company’s financial results for the three and six months ended June30, 2017. A copy of this press release, which also contains information about the Company’s full-year 2017 guidance, is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Full-Year 2017 EPS Guidance
The Company raised its full-year diluted earnings per share guidance and expects it to be in a range of $2.32 to $2.35 and adjusted diluted earnings per share to be in a range of $2.36 to $2.39. Adjusted diluted earnings per share excludes the impact of restructuring charges, withdrawal costs – multiemployer pension funds, gain/(loss) on disposition of assets and impairments, net, and incremental contract startup costs – large municipal contract.
We believe that presenting adjusted diluted earnings per share provides an understanding of operational activities before the financial impact of certain items. We use this measure, and believe investors will find it helpful, in understanding the ongoing performance of our operations separate from items that have a disproportionate impact on our results for a particular period. We have incurred comparable charges in prior periods, and similar types of adjustments can reasonably be expected to be recorded in future periods. Although our business regularly incurs startup costs under municipal contracts, we have specifically identified startup costs with respect to an individual municipal contract (and do not adjust for other startup costs under other contracts in 2017). We do this because we believe the costs involved with this particular municipal contract are of an unusual nature for the time period in which they are incurred. Our definition of adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies.
Item 2.02 Other Events
On July 27, 2017, the Company issued a press release announcing that its board of directors approved a 2.5 cent increase in the Company's regular quarterly dividend to $0.345 per share. A copy of this press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.02 Financial Statements and Exhibits.
(d)Exhibits
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Exhibit No. |
Description |
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99.1 |
Press release of Republic Services, Inc. issued July 27, 2017 to announce the financial results for the three and six months ended June 30, 2017. |
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99.2 |
Press release of Republic Services, Inc. issued July 27, 2017 to announce the board of directors' approval of a 2.5 cent increase in the Company's regular quarterly dividend to $0.345 per share. |
REPUBLIC SERVICES, INC. ExhibitEX-99.1 2 exhibit991q22017.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1Republic Services,…To view the full exhibit click here
About Republic Services, Inc. (NYSE:RSG)
Republic Services, Inc. is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Company operates through three segments: East, Central and West. The Company operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells. It also operates approximately 70 landfill gas and renewable energy projects. It has post-closure responsibility for approximately 130 closed landfills. The Company provides residential, small-container commercial and large-container industrial solid waste collection services. Its residential collection business involves the curbside collection of waste for transport to transfer stations, or directly to landfills or recycling centers.
