Republic Services Raises Adj. Earnings Guidance; Issues Prelim. 2020 Outlook

(RTTNews) - Republic Services, Inc. (RSG) raised its full-year adjusted earnings per share guidance to $3.28 to $3.30 and reaffirmed its full-year adjusted free cash flow guidance of $1.125 billion to $1.175 billion. The company now expects to achieve the upper-end of its adjusted free cash flow guidance range. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.24. Analysts' estimates typically exclude special items.

Republic also provided a preliminary financial outlook for 2020. The company projects adjusted earnings per share to be in a range of $3.46 to $3.51. Adjusted free cash flow to be in a range of $1.15 billion to $1.20 billion. Analysts expect the company to report profit per share of $3.57.

For the third-quarter, adjusted earnings per share was $0.91, an increase of 11 percent over the prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.85, for the quarter.

Third-quarter revenue increased to $2.65 billion from $2.57 billion, prior year. Analysts expected revenue of $2.69 billion for the quarter.

Republic announced that its Board declared a regular quarterly dividend of $0.405 per share for shareholders of record on January 2, 2020, which will be paid on January 15, 2020.