Republic Services Inc. saw revenue increase slightly during the first quarter as profits dipped for the nation’s second-largest solid waste management company.

The Phoenix-based firm earned $124.6 million, or 34 cents per diluted share, on revenue of $2 billion. That compares to earnings of $142.9 million, or 38 cents per diluted share, on revenue of $1.98 billion for the first quarter of 2012.

Excluding charges, expenses and benefits, net income would have been $167.4 million, or 46 cents per diluted share, for the first quarter of this year, and $140.9 million, or 38 cents per diluted share for the first quarter of last year, the company reported.

Stock analysts predicted revenue of $2 billion and earnings of 40 cents per share, on average, according to Yahoo Finance.

CEO Donald W. Slager, in a statement, said the company’s first quarter performance “reflects an overall improvement in business conditions. We saw sequential increases in core pricing, volume and margins, which drove our strong Q1 results. We continue to profitably grow our core business as evidenced by year-over-year increases in revenue, earnings and free cash flow.”

Shares of Republic Services were up 86 cents to $34.11 in trading at one point this morning, according to Yahoo Finance.

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