Republic Services Q4 EPS Beats Estimates by 8.7%, Revenues Miss by 1.8%
Republic Services reported Q4 2025 EPS of $1.76, up 11.4% year-over-year and 8.7% above estimates, while revenues rose 2.2% to $4.1B, missing consensus by 1.8%. 2026 guidance projects $17.05–17.15B revenue and $7.20–7.28 adjusted EPS, both slightly below consensus.
1. Q4 2025 Financial Results
Republic Services delivered Q4 EPS of $1.76, up 11.4% year-over-year and 8.7% above consensus estimates, while revenues rose 2.2% to $4.1 billion, missing consensus by 1.8%. Adjusted EBITDA reached $1.3 billion with a 31.3% margin, up 30 basis points from last year.
2. Segment Revenue Breakdown
Collection revenues totaled $2.8 billion, rising 3.8% year-over-year but falling short of consensus; Environmental Solutions net revenues declined 12.4% to $422 million; Transfer and Landfill segments generated $214 million and $467 million, each up 5.4%, while the Other segment posted $200 million, up 5.3%.
3. Cash Flow and Balance Sheet
The company exited Q4 with $76 million in cash and $13 billion net long-term debt. Operating activities generated $981 million in cash, with adjusted free cash flow of $242 million and capital expenditures of $577 million.
4. 2026 Outlook
Republic Services projects 2026 revenues of $17.05–17.15 billion and adjusted EPS of $7.20–7.28, below consensus of $17.33 billion and $7.26 EPS; adjusted EBITDA is guided at $5.475–5.525 billion, with free cash flow of $2.52–2.56 billion.