Waste disposal firm Republic Services beats quarterly profit estimates on stronger pricing

Shares of the firm, which is one of two publicly traded companies providing garbage collection and disposal services across the U.S., rose 1.3% after the bell.

Revenue from Republic's waste collection business rose to $2.99 billion for the quarter ended June 30, from $2.82 billion a year earlier.

The Phoenix, Arizona-based company posted an adjusted profit of $1.85 per share for the second quarter, above analysts' average expectation of $1.81 per share, according to LSEG-compiled data.

Republic Services now expects annual revenue of $17.2 billion to $17.3 billion, compared with its earlier projection of $17.05 billion to $17.15 billion. The midpoint of the new forecast is above Wall Street estimates of $17.2 billion.

Aug. 6 (Reuters) - Republic Services beat Wall Street estimates for second-quarter profit on Thursday, helped by stronger pricing for its garbage collection and recycling services.

Higher pricing helped the company offset softer waste volumes during the quarter, even as the industry grapples with elevated fuel and supply costs stemming from Middle East-related shipping disruptions.

"Pricing in excess of cost inflation and our disciplined cost management supported accelerated growth in revenue," said CEO Jon Vander Ark.