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.
Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

Hurricane Cleanup Could Make These Stocks Stealthy Winners, Analysts Say

These Stocks Are Changing Direction

Bullish and Bearish Reversals for the Week

How to Find 100-to-1 Moonshots

Q4 Preview: What Analysts Expect From the World Economy, the U.S. Election, and More This Quarter