Republic Services reported a strong finish to 2025, exceeding guidance for adjusted earnings and free cash flow, driven by healthy pricing and disciplined cost management. The company demonstrated resilience against cyclical demand headwinds and continued to invest in growth initiatives and shareholder returns.
Full-year 2025 adjusted EPS increased 8.7% to $7.02, exceeding guidance.
positiveFull-year 2025 adjusted free cash flow increased 11.5% to $2.43 billion, exceeding guidance.
positiveFull-year 2025 adjusted EBITDA margin was 32.0%, an increase of 90 basis points over the prior year.
positiveCompleted and commenced operations on nine renewable natural gas projects during the year.
positiveAverage recycled commodity price per ton sold decreased by $41 year-over-year in Q4 2025 and $29 year-over-year for the full year.
attentionEnvironmental solutions revenue experienced a 2.0% organic decline in Q4 and a 1.0% organic decline for the full year.
attentionVolume decreased total revenue by 1.0% in Q4 and 0.6% for the full year.
attentionLabor disruptions in certain markets impacted the full year 2025 by $56 million.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Recycling & Waste | N/A | — | — | — |
Environmental Solutions | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
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.
Continued to invest across the business to position us for sustained, value-creating growth while returning $1.6 billion to shareholders through dividends and share repurchases.
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