This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Republic Services' CEO Discusses Q3 2011 Results - Earnings Call Transcript

Additionally, the material we discuss today is time-sensitive. If in the future you listen to a rebroadcast or recording of this conference call, you should be sensitive to the date of the original call, which is October 27, 2011.

Please note that this call is the property of Republic Services, Inc. Any redistribution, retransmission or rebroadcast of this call in any form without the expressed written consent of Republic Services is strictly prohibited.

With that, I would like to turn the call over to Don.

Donald W. Slager

Thanks, Ed. Based on our third quarter performance, Republic Services is on track to achieve the earnings and cash flow guidance provided earlier this year. Financial and operational highlights include: Revenue of approximately $2.1 billion for the quarter; total price growth in the quarter was 3.6%, with core price of a 0.7%; our MSW landfill price was up by 3%, which is an improvement from Q2 levels; Q3 had positive volume growth, this is the ninth consecutive quarter of collection volume improvement; our third quarter adjusted EPS was $0.53 and $1.43 year-to-date; our third quarter adjusted free cash flow was $266 million; we repurchased 6 million shares in the third quarter for $167 million.

During the past 12 months, we have repurchased 16 million shares or 4% of our stock for $470 million. We remain committed to an efficient cash utilization strategy, which includes increasing cash returns to our shareholders through repurchase and dividends. Total cash returned to the shareholders in the quarter was $242 million and $657 million year-to-date.

We continue to be successful in retaining a high percentage of our existing contracts, and have secured a number of new contracts that will improve our performance in 2012. During the third quarter, we started a new contract that privatized a residential collection operations of Toledo, Ohio. Privatization continues to be a source of revenue growth and assist municipalities with allocation of financial resources. Additionally, we will begin servicing a number of new contracts during 2012, including San Jose in Fresno, California and Hernando County in Florida.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs