Republic Services Posts 33.5% Lower Profit in Q4; Adjusted Net Misses Estimates (RSG)
Waste management specialist Republic Services, Inc. (RSG) reported after the bell on Thursday that it posted a decline in fourth quarter profit despite slightly higher revenues. Adjusted net income missed the Wall Street view.
The Phoenix-based company said it earned $127.0 million, or 35 cents per share, in the fourth-quarter, versus earnings of $191.0 million, or 51 cents per share, a year earlier.
Excluding certain one-time items, adjusted net income was $133.4 million, or 37 cents per share. On average, analysts polled by Thomson Reuters were expecting earnings to be 43 cents per share.
Quarterly revenue rose slightly to $2.028 billion compared to $2.025 billion a year earlier. Analysts were expecting revenue to be $2.00 billion.
Looking forward, the company is expecting to earn an adjusted $1.86 to $1.91 per share in fiscal 2013 with a 2.0% to 2.5% increase in revenue. Analysts seen adjusted EPS at $1.93 on revenue of $8.24 billion in 2013.
Republic Services shares were down slightly during pre-market trading on Friday. Over the past year the stock is up about +6%.
The Bottom Line
Shares of Republic Services (RSG) have a dividend yield of 2.95% based on last night’s closing price of $31.84 and the company’s annualized dividend payout of 94 cents per share.
Republic Services, Inc. (RSG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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