Republic Services Q3 Profit Misses Estimate

(RTTNews) - Republic Services, Inc. (RSG) reported net income for the third quarter of $185.8 million or $0.52 per share, compared to $171.4 million or $0.47 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $186.0 million or $0.52 per diluted share, compared to $198.2 million or $0.55 per share in the prior year quarter.

Revenue for the third quarter rose 4.6% to to $2.26 billion from $2.17 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.53 per share on revenue of $2.24 billion for the third quarter. Analysts' estimates typically exclude special items.

The company said it now expects full year 2014 adjusted diluted earnings per share to be in a range of $1.93 to $1.94, compared to its prior guidance of $1.93 to $1.98 per share.

The company also issued its 2015 preliminary outlook which calls for earnings of $2.02 to $2.06 per share.

Analysts currently expect the company to earn $1.97 per share for the full year 2014 and $2.16 per share for the full year 2015.