From https://www.wasterecyclingnews.com/headlines2.html?id=1328890869

Republic Services Inc. saw profit increase for both the fourth quarter and the entire year in 2011.

The Phoenix-based solid waste management company earned $589.2 million, or $1.56 per diluted share, on revenue of $8.19 billion, in 2011. That compares with net income of $506.5 million, or $1.32 per share, on revenue of $8.11 billion in 2010.

Net income for the fourth quarter was $191 million, or 51 cents per diluted share, on revenue of $2.025 billion. That compares with earnings of $147.6 million, or 38 cents per diluted share, on revenue of $2.021 billion for the last quarter of 2010.

“Our strong operational focus allowed the company to achieve a record level of free cash flow. We continue to have a disciplined approach in the utilization of cash flow, which includes re-investing in our business, acquisitions and returning cash through share repurchases and dividends. During 2011, Republic returned approximately $770 million to its owners through repurchases and dividends, CEO Donald W. Slager said in a statement.

Republic beat analysts’ earnings estimates for the quarter. Analysts estimated Republic’s fourth quarter earnings per share at 45 cents before one-time items, according to Yahoo Finance.

Republic Services shares were trading at $30.02 per share, down 7 cents, in early trading this morning.

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https://www.wastebusinessjournal.com/news/wbj20111101B.htm

Republic Services, Inc. Reports Third Quarter Earnings of $0.52 Per Share

– Positive quarterly volume growth
– Repurchased more than 4% of Company stock during the past twelve months
– Reaffirms EPS and free cash flow guidance
Republic Services, Inc. (NYSE: RSG) today reported net income of $193.5 million, or $0.52 per share, for the three months ended September 30, 2011, versus $134.2 million, or $0.35 per share, for the comparable period last year.

Republic’s net income for the three months ended September 30, 2011 and 2010 includes a number of charges and other expenses that impacted its results. A detail of these charges and other expenses is contained in the Reconciliation of Certain Non-GAAP Measures section of this document. Excluding these items, net income for the three months ended September 30, 2011 and 2010 would have been $198.5 million, or $0.53 per diluted share, and $172.8 million, or $0.45 per diluted share, respectively. Continue reading

https://www.wasterecyclingnews.com/headlines2.html?id=1266420718

Warren Buffett likes trash.

The well-known investor, whose every financial move is watched closely by Wall Street, has substantially increased his investment in Republic Services Inc., the nation´s No. 2 solid waste management company.

In a new filing with the U.S. Securities and Exchange Commission, Buffett´s Berkshire Hathaway Inc. says it held 8,290,500 shares of the company´s stock as of the end of 2009.

That compares with 3,625,000 shares at the end of last year´s third quarter.

Buffett joins billionaire buddy Bill Gates with substantial holdings in Republic Services. Gates has been a long-time investor in the company, and Buffett only started buying stock within recent months. Berkshire Hathaway, a publicly traded company, owns stock in about 40 other firms.

Contact Waste & Recycling News senior reporter Jim Johnson at 937-964-1289 or jpjohnson@crain.com