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Republic Services

RSG Q4 2025 Earnings

Reported Feb 17, 2026 at 4:06 PM ET · SEC Source

Q4 25 EPS

$1.76

BEAT +7.98%

Est. $1.63

Q4 25 Revenue

$4.14B

vs S&P Since Q4 25

-11.0%

TRAILING MARKET

RSG -6.0% vs S&P +5.0%

Full Year 2025 Results

FY 25 EPS

$7.02

BEAT +1.76%

Est. $6.90

FY 25 Revenue

$16.59B

MISS 0.44%

Est. $16.66B

Market Reaction

Did RSG Beat Earnings? Q4 2025 Results

Republic Services posted a stronger-than-expected Q4 2025, delivering adjusted earnings per share of $1.76 against a Wall Street consensus of $1.63, a beat of nearly 8%, even as revenue of $4.14 billion came in just shy of the $4.21 billion estimate,… Read more Republic Services posted a stronger-than-expected Q4 2025, delivering adjusted earnings per share of $1.76 against a Wall Street consensus of $1.63, a beat of nearly 8%, even as revenue of $4.14 billion came in just shy of the $4.21 billion estimate, rising 2.2% year over year. The earnings outperformance was anchored by disciplined pricing, with core price on total revenue climbing 5.8%, while net income margin expanded 50 basis points to 13.2% and adjusted EBITDA margin improved 30 basis points to 31.3%. Revenue fell modestly short in part because environmental solutions faced a tough comparison, the prior-year quarter included roughly $50 million in non-recurring emergency response revenue. For full-year 2025, Republic exceeded its own adjusted EPS and free cash flow targets, and management enters 2026 with steady confidence, guiding for revenue of $17.05 billion to $17.15 billion and adjusted diluted EPS of $7.20 to $7.28, with yield growth of 3.2% to 3.7% expected to offset a projected 1.0% volume decline.

Key Takeaways

  • • Core price on total revenue increased 5.8% in Q4, 5.9% for full year
  • • Disciplined cost management navigating cyclical demand headwinds
  • • Adjusted EBITDA margin expanded 30 basis points in Q4 and 90 basis points for full year
  • • SG&A expenses declined as a percentage of revenue from 11.0% to 10.6% in Q4
  • • Open market core price of 8.7% on related business revenue

RSG Forward Guidance & Outlook

For full-year 2026, Republic expects revenue of $17.050 billion to $17.150 billion, adjusted EBITDA of $5.475 billion to $5.525 billion, adjusted diluted EPS of $7.20 to $7.28, and adjusted free cash flow of $2.520 billion to $2.560 billion. The company expects average yield growth on total revenue of 3.2% to 3.7% and volume decline of approximately 1.0%. Republic expects to invest approximately $1 billion in acquisitions in 2026, with approximately $400 million already deployed as of February 17, 2026. Cash provided by operating activities is expected to be $4.460 billion to $4.540 billion. Guidance assumes current economic conditions with no significant changes in the overall economy.

24/7 Wall St

RSG YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

RSG Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“We delivered another strong year of results in 2025, underscoring the resilience of our business model and the strength of our differentiated capabilities. Through healthy pricing and disciplined cost management, we successfully navigated cyclical demand headwinds and exceeded expectations for full-year adjusted earnings and adjusted free cash flow.”

— Jon Vander Ark, Q4 2025 Earnings Press Release

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