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Cash Cow Republic Services’ ESG Initiatives Bearing Fruit

publication date: Nov 14, 2023
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Republic Services remains our favorite garbage hauler. The company is a cash cow, and it continues to drive dividend growth as it buys back shares. When it reported third-quarter results on October 26, the firm showed strong adjusted earnings per share expansion, to $1.54, up from $1.34 in last year’s period. For the first nine months of the year, the firm grew cash flow from operations to ~$2.7 billion, up from ~$2.38 billion during the same period last year, driving strong adjusted free cash flow generation of ~$1.8 billion, materially higher than the ~$470 million in cash dividends it paid over the same period. The board authorized $3 billion for share repurchases, and its equity yields a very healthy ~1.4% at the time of this writing.


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