Trash-hauling company Republic Services (RSG) announced today that it nearly doubled its first-quarter profit, buoyed by its recent acquisition of Allied Waste Industries.
During the quarter, the company earned $113 million, or 30 cents per share, compared with $76.1 million, or 41 cents per share, a year ago.
Revenue jumped to $2.06 billion from $779.2 million last year.
Republic Services bought rival Allied Waste in December, creating the industry's second-largest company, behind rival Waste Management (WMI).Republic Services also declared a regular quarterly dividend of 19 cents, which will be paid on July 15 to shareholders of record July 1. Shares of the company shot up 8% to $22.62. On Wednesday, Waste Management announced that its first-quarter earnings declined 36%, as industrial and commercial customers declined.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV