PHOENIX – Republic Services Inc. (RSG) reported second quarter profit of $ 331.1 million on Thursday.
On a per share basis, the Phoenix-based company said it made a profit of $ 1.03. Profit, adjusted for one-time costs, was $ 1.09 per share.
The results exceeded Wall Street’s expectations. The average estimate of nine analysts polled by Zacks Investment Research was of a profit of 94 cents per share.
The waste management company posted sales of $ 2.81 billion over the period, also beating Street’s forecast. Six analysts polled by Zacks expected $ 2.72 billion.
Republic Services expects annual earnings of between $ 4 and $ 4.05 per share.
Shares of Republic Services are up 20% year-to-date, while the S&P 500 index is up 18%. In the closing minutes of trading on Thursday, shares hit $ 115.48, a 33% rise in the past 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a stock report from Zacks on RSG at https://www.zacks.com/ap/RSG
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