Republic Services

Republic Services (Republic) collects, transfers, recycles and disposes of solid waste for homes, businesses and cities in the United States and Canada. It also handles special waste, hazardous waste and field services in its Environmental Solutions business. At the end of 2025, it ran 377 collection operations, 255 transfer stations, 79 recycling centers, 207 active landfills, 24 treatment, storage and disposal facilities and 2 polymer centers, and it had 84 landfill gas-to-energy and other renewable energy projects.

The company reports three segments: Group 1 and Group 2 for recycling and waste, and Group 3 for environmental solutions. The head office is in Phoenix, Arizona. Jon Vander Ark is President and Chief Executive Officer.

Republic trades at a premium because investors pay for its steady price increases, its network of landfills and its regular growth from acquisitions. In Q3 2026, revenue rose 8.2% to $4,559 million, core price added 5.3% and adjusted EPS rose 2.1% to $1.94. The company raised its 2026 guidance to revenue of $17.425 billion to $17.475 billion and Adjusted EBITDA of $5.550 billion to $5.575 billion. But volume fell 0.6% in the quarter, and losses from equity method investments were $158 million in the first nine months of 2026.

For the premium to be earned, three things must be true. Price increases must stay above cost inflation. Volume must stop falling as the economy changes. Acquisitions of about $1 billion each year must add profit at good returns.

The Q4 2026 report with the 2027 guidance, expected in mid-February 2027, is the next test. Steady growth over many years can hold the price, and only fast growth in earnings can make the premium smaller.

1. Oct 29, 2026Passed

   Q3 2026 results: price and guidanceCore price above cost inflation and a higher 2026 guidance pass; a lower guidance fails.Outcome: Core price added 5.3% to revenue, and the company raised its 2026 guidance for revenue, Adjusted EBITDA and free cash flow.
2. Feb 16, 2027 · est.Pending

   Q4 2026 results and 2027 guidance2027 guidance with adjusted EPS growth and more acquisitions passes; lower margins or a fall in adjusted EPS fails.
3. 2027 · est.Pending

   Volume returns to growthFlat or positive volume for a full year passes; a further decrease fails.

Every passed and failed checkpoint across all picks

• October 29, 2026Republic reported Q3 2026 results. Revenue rose 8.2% to $4,559 million, EPS rose 9.7% to $1.93 and adjusted EPS rose 2.1% to $1.94. The company raised its 2026 guidance for revenue, Adjusted EBITDA and adjusted free cash flow. The Board approved a $5 billion share repurchase authorization for January 1, 2027 to December 31, 2029.
• July 28, 2026The Board raised the quarterly dividend by 4.5 cents to $0.670 per share.
• June 22, 2026Republic agreed to sell $700 million of 4.750% notes due 2031 and $500 million of 5.000% notes due 2036.

Last earnings

October 29, 2026 (8-K on sec.gov)

Next earnings

Expected about February 16, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 30, 2026 · rsg-20260930
• 8-KEarnings release and Investor disclosureFiled October 29, 2026 · rsg-20261028
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 7, 2026 · rsg-20260630
• 8-KEarnings release and Investor disclosureFiled August 6, 2026 · rsg-20260806
• 8-KOther company newsFiled July 30, 2026 · rsg-20260728
• 8-KOther company newsFiled June 24, 2026 · Read it on sec.gov
• 8-KShareholder vote resultsFiled May 11, 2026 · rsg-20260507
• 10-QQuarterly report for the period ended Mar 31, 2026Filed May 8, 2026 · rsg-20260331
• 8-KEarnings release and Other company newsFiled May 7, 2026 · rsg-20260505
• 10-KAnnual report for the period ended Dec 31, 2025Filed February 18, 2026 · rsg-20251231

Every filing on SEC EDGAR (CIK 1060391)

• Volume falls when construction and industrial activity are weak. Volume lowered revenue by 0.6% in Q3 2026, and the company depends on price increases for growth.
• Landfills need permits, and new rules on emissions, PFAS and other substances can increase costs for closure, post-closure care and remediation.
• Republic invests in companies that qualify for investment tax credits. Losses from these equity method investments were $158 million in the first nine months of 2026, against tax benefits of about $119 million, and changes in tax law can reduce the benefits.
• Recycled commodity prices change. The average price was $142 per ton in Q3 2026, $16 more than a year earlier, and a fall in prices lowers recycling revenue.
• Debt rose to about $14.1 billion at September 30, 2026 for acquisitions and buybacks. Higher interest rates can increase interest expense when debt is refinanced.

Republic funds itself with senior notes, commercial paper, a revolving credit facility and tax-exempt bonds. At September 30, 2026, debt was $14,055 million: $48 million due within one year and $14,007 million of long-term debt. Read more

Dividend yield

1.0% (last 12 months, at today’s price of $246.78)

Paid per share

$2.545 in the last 12 months (4 payments)

Current annual rate

$2.68 ($0.67 × 4 a year)

Payout ratio

35% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

October 2, 2026, $0.67 per share

Dividends per share by year

Over the last 5 years, the dividend grew by about 8.0% a year. Over the last 10 years, the dividend grew by about 7.6% a year.

Source: company filings and market data, read on November 10, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.