10-K · February 18, 2026
Republic Services positions itself as a vertically integrated environmental services leader in the U.S. and Canada, targeting a $163 billion addressable market through scale, local operating management and investments…
Earnings analysis · 10-Q
RSG earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
Republic Services, Inc. reported Q1 2026 earnings with revenue of $4.113 billion, a 2.6% increase compared to Q1 2025, exceeding prior estimates. Earnings per share (EPS) also rose to $1.70, reflecting a positive trend…
Read full summary
Republic Services, Inc. reported Q1 2026 earnings with revenue of $4.113 billion, a 2.6% increase compared to Q1 2025, exceeding prior estimates. Earnings per share (EPS) also rose to $1.70, reflecting a positive trend in core pricing and robust cash flow generation, despite challenges in environmental solutions revenue.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.7
- Operating margin
- 20.2%
What stood out
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Earnings Beat Estimates
Reported diluted EPS of $1.70 compared to consensus estimate of $1.64, a 3.66% surprise.
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Revenue Growth
Total revenue increased by 2.6%, rising to $4.113 billion from $4.009 billion year-over-year.
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Operating Income Margin Stable
Operating income margin slightly improved to 20.2%, compared to 20.1% in Q1 2025.
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Strong Cash Flow Generation
Operating cash flow reached $1.227 billion, up from $1.025 billion in Q1 2025.
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Increased Capital Expenditures
Capex reached $476 million, up from $459 million in Q1 2025.
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Improved Cash Position
Cash and cash equivalents increased to $118 million from $76 million in the previous quarter.
What to watch
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Environmental Solutions Revenue Decline
Q1 2026 environmental solutions revenue decreased by 1.3% compared to Q1 2025.
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Higher Interest Expenses
Interest expense rose to $151 million in Q1 2026 from $140 million in Q1 2025, due to higher debt balances.
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Increasing Labor and Fuel Costs
Labor costs increased due to annual merit raises, while fuel costs rose amid a national average price of $4.12 per gallon.
Management's outlook
Management expects to continue driving growth through strategic acquisitions and improving operational efficiencies, but did not provide specific numeric guidance.
Earlier filings 4
10-Q · October 31, 2025
Republic Services reported 2025 Q3 revenue of $4,212 million (up from $4,076 million in Q3 2024) and diluted EPS of $1.76 (down from $1.80). Operating income was $836 million (versus $846 million in the year-ago…
10-Q · July 30, 2025
Republic Services reported Q2 revenue of $4,235.0M and diluted EPS of $1.75, with operating income of $861M — all higher versus the year-ago quarter. Operating cash flow for the six months improved to $2,134M while the…
10-Q · October 30, 2024
Republic Services reported Q3 revenue of $4,076.2 million (up $250.3 million vs. Q3 2023's $3,825.9 million) and diluted EPS of $1.80 (up $0.28 vs. $1.52 in Q3 2023). Operating income rose to $845.9 million (vs. $727.8…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.