By Sabela Ojea
Republic Services logged higher revenue in the fourth quarter boosted by a 6.1% increase in the prices it charges its customers, and said it expects further hikes ahead.
The waste management company on Thursday posted a net income of $512 million, or $1.63 a share, compared with $440 million, or $1.39 a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at $1.58. Analysts polled by FactSet had forecast adjusted earnings of $1.40.
Revenue rose to $4.05 billion from $3.83 billion a year earlier. Wall Street had forecast quarterly revenue of $4.07 billion.
Chief Executive Jon Vander Ark said the company expects further price hikes in 2025 to offset inflation.
"We expect to deliver another strong year of profitable growth in 2025," Ark said, adding that Republic Services expects gains from acquisitions and digital investments in innovation.
Republic Services expects adjusted earnings per share of $6.82 to $6.90, and revenue of $16.85 billion to $16.95 billion this year. Wall Street anticipates adjusted earnings of $6.79 and revenue of $16.93 billion for 2025.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 13, 2025 17:49 ET (22:49 GMT)
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