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Get filing alertsRepublic Services reports Q1 EPS of $1.70, up 7.6%, with 50 bps margin expansion
Filed May 7, 2026 · Period ending May 5, 2026 · ~1 min read
Key Changes
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Q1 2026 net income rose to $525M ($1.70/share) from $495M ($1.58/share) in Q1 2025, driven by 5.7% core price growth and 50 bps margin expansion in both net income and adjusted EBITDA.
Item 2.02 verify on EDGAR → -
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Generated $1.23B operating cash flow and $984M adjusted free cash flow; returned $507M to shareholders via $314M buybacks (1.4M shares at $218.29 avg) and $193M dividends.
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Board declared $0.625 quarterly dividend (up from $0.580 in Q1 2025), payable July 15 to shareholders of record July 2.
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Deployed $433M in Q1 acquisitions ($700M+ year-to-date), contributing 1.1% to revenue growth; total revenue up 2.6% to $4.1B despite 0.8% volume decline.
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Core pricing power remains strong at 5.7% overall (8.4% in open market), offsetting $35/ton decline in recycled commodity prices to $120/ton and volume softness.
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Summary
Republic Services delivered a solid first quarter with earnings growth and margin expansion despite volume headwinds. The company's 7.6% EPS growth to $1.70 reflects disciplined pricing execution—5.7% core price gains overall and 8.4% in the open market—that more than offset an 0.8% volume decline and lower recycled commodity prices.
Management expanded both net income and adjusted EBITDA margins by 50 basis points, demonstrating effective cost control. Cash generation remained robust at $1.23 billion in operating cash flow and $984 million in adjusted free cash flow, supporting an aggressive capital allocation program.
The company returned $507 million to shareholders through buybacks and dividends while deploying $433 million in acquisitions during the quarter. The modest dividend increase to $0.625 per share continues a pattern of steady shareholder returns. For retail holders, the quarter confirms Republic's pricing power in a softer volume environment. The company's ability to push through mid-to-high single-digit price increases while maintaining customer relationships is the key value driver. Watch whether volume trends stabilize as the year progresses—persistent volume declines could eventually pressure the pricing model if competition intensifies for a shrinking pie.
Section-by-Section Diff
Event · Exhibit 99.1
Republic Services reported Q1 2026 EPS of $1.70, expanded margins 50 bps, generated $984M adjusted free cash flow, and declared a $0.625 quarterly dividend.
Added in current filing · view on EDGAR →
net income of $525 million, or $1.70 per diluted share, for the three months ended March 31, 2026, versus $495 million, or $1.58 per diluted share, for the comparable 2025 period
Republic Services reported first quarter 2026 net income of $525 million ($1.70 per diluted share), up from $495 million ($1.58 per diluted share) in Q1 2025, representing 7.6% EPS growth. The company expanded net income margin by 50 basis points and adjusted EBITDA margin by 50 basis points year-over-year, driven by disciplined pricing (5.7% core price growth) and effective cost management.
Added in current filing · view on EDGAR →
Total revenue growth of 2.6 percent includes 2.8 percent organic growth from our recycling and waste business, 1.3 percent organic decline from our environmental solutions business, and 1.1 percent growth from acquisitions. ... Core price on total revenue increased revenue by 5.7 percent. Core price on related business revenue increased revenue by 6.8 percent, which consisted of 8.4 percent in the open market and 4.4 percent in the restricted portion of the business.
Total revenue grew 2.6% to $4.113 billion, driven by strong pricing power with 5.7% core price growth (6.8% on related business revenue, including 8.4% in the open market). Volume declined 0.8%, partially offsetting price gains. The environmental solutions business declined 1.3% organically, while recycling and waste grew 2.8% organically. Recycled commodity prices averaged $120 per ton, down $35 from the prior year.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 26, 2026 · How we verify