RSG Q2 2025 Earnings
Reported Jul 29, 2025 at 4:08 PM ET · SEC Source
Q2 25 EPS
$1.77
Q2 25 Revenue
$4.24B
vs S&P Since Q2 25
-27.9%
TRAILING MARKET
RSG -14.3% vs S&P +13.6%
Market Reaction
Did RSG Beat Earnings? Q2 2025 Results
Republic Services posted a strong second quarter, reporting earnings of $1.77 per share on revenue of $4.24 billion as the waste and environmental services giant demonstrated that disciplined pricing continues to translate directly into margin expans… Read more Republic Services posted a strong second quarter, reporting earnings of $1.77 per share on revenue of $4.24 billion as the waste and environmental services giant demonstrated that disciplined pricing continues to translate directly into margin expansion. The clearest driver of the quarter was pricing power: core price on related business revenue climbed 7.0%, enabling adjusted EBITDA margin to widen 100 basis points year-over-year to 32.1% even as recycled commodity prices weighed on results, with the average price per ton sold at recycling centers falling $24.00 to $149. Landfill net revenue was a notable bright spot, growing 12.2% year-over-year to $516.00 million, while year-to-date adjusted free cash flow reached $1.42 billion. Looking ahead, management raised its full-year adjusted free cash flow guidance to a range of $2.38 billion to $2.42 billion, though the updated outlook incorporates an estimated $25.00 million to $50.00 million headwind from labor disruptions that emerged in certain markets in July 2025. The company also lifted its quarterly dividend roughly 8% to $0.63 per share, underscoring confidence in the durability of its cash generation.
Key Takeaways
- • Core price on total revenue increased revenue by 5.7%
- • Core price on related business revenue increased revenue by 7.0% (8.6% open market, 4.6% restricted)
- • Average yield on total revenue of 4.1%
- • Volume increased revenue by 0.2%
- • Adjusted EBITDA margin expanded 100 basis points year-over-year to 32.1%
- • Cost of operations improved to 57.9% of revenue from 58.8%
- • Landfill net revenue grew 12.2% year-over-year
- • Construction and demolition waste volume surged 47.3%
- • Acquisitions contributed 1.5% to total revenue growth
RSG YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
RSG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased with our second quarter results which demonstrate the resilience of our business model and the benefit of the investments in our differentiated capabilities. We produced double-digit growth in EBITDA and 100 basis points of adjusted EBITDA margin expansion by continuing to price ahead of cost inflation and consistently executing our operational plan.”
— Jon Vander Ark, Q2 2025 Earnings Press Release
RSG Earnings Trends
RSG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RSG EPS Trend
Earnings per share: estimate vs actual
RSG Revenue Trend
Quarterly revenue: estimate vs actual
RSG Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $1.63 | $1.76 | +7.98% | $4.14B | — |
| FY Full Year | $6.90 | $7.02 | +1.76% | $16.59B | -0.44% |
| Q3 25 BEAT | $1.78 | $1.90 | +6.48% | $4.21B | -0.91% |
| Q2 25 | — | $1.77 | — | $4.24B | — |
| Q1 25 | — | $1.58 | — | $4.01B | — |