Fri, Jan. 15, 8:25 PM
- Republic Services (RSG -2.4%) fell another 4.7% after hours as it launched a broad reorganization that will result in merging field support layers and heavily consolidate regions across the country.
- The company will eliminate its three regions and consolidate 20 areas into 10, with 10 new "area offices" as the resource "epicenter" for 165 business units.
- Call centers will be consolidated, from more than 100 customer service locations into three centers. The company plans $20M in investment to design and implement the new Customer Resource Centers.
- The company expects the customer center realignment to save some $10m annually starting in 2018, and sees some $25M in annual savings from the overall reorg.
- It's expecting to take a restructuring charge of $35M (EPS of $0.06) in 2016.
Tue, Jan. 5, 9:56 AM
- Progressive Waste Solutions (BIN +6.5%) opens higher after saying it has begun a review of strategic alternatives, confirming an earlier report that it may be considering a sale.
- Logical buyers could include Waste Connections (WCN -0.2%) and Republic Services (RSG +0.2%), both of which can afford a 25% buyout premium and still have a deal be accretive to their earnings even before factoring in any cost savings, but they may be reluctant to take on more debt, and RSG has said that while it is focused on growing via acquisition, those will probably total just ~$100M/year.
- Waste Management (WM -0.1%) arguably is even more likely to pass on BIN, Bloomberg's Gillian Tan writes, as its stock has lagged most competitors except BIN, it is focused on smaller acquisitions, and antitrust hurdles provide an obstacle as the industry's biggest player.
Jul. 1, 2014, 5:36 PM
Jun. 16, 2014, 5:36 PM
Apr. 25, 2013, 4:42 PM
More on Republic Services (RSG) Q1 misses on its EPS but comes in line on revenue. Net profit slipped 13% as pension-related costs and restructuring charges weighed on bottom line margins. Revenue was flat Y/Y, while operating margin narrowed to 13.7% from 16.5%. Core prices increased 1.2% and fuel recovery fees were up 0.3%, though volumes and revenue from recycling commodities both saw slight declines. Shares +2% AH.| Apr. 25, 2013, 4:42 PM
Apr. 25, 2013, 4:29 PMRepublic Services (RSG): Q1 EPS of $0.34 misses by $0.07. Revenue of $2B in line. (PR). Shares +2% AH. | Apr. 25, 2013, 4:29 PM | 1 Comment
Jul. 11, 2012, 2:49 PMWaste Management (WM -5.9%) continues lower following a downgrade to Underweight from Morgan Stanley's Vance Edelson. Buy Republic Services (RSG) instead, he says. It's cheaper, buying back more of its shares, and is entangled with fewer "non-core distractions." | Jul. 11, 2012, 2:49 PM | 5 Comments
May 14, 2012, 2:03 PM
Apr. 27, 2012, 12:35 PM
Republic Services (RSG -12.2%) dips after missing Q1 estimates on slower sales and anemic growth. Net profit fell 9.7% Y/Y on flat volume due to challenging market conditions. The company also lowers guidance for FY12 to $1.86 - $1.90 from $1.98 - $2.02. Street estimates for for an EPS of $2.01. Separately the company says its Tod Holmes will retire from his position effective May 1.| Apr. 27, 2012, 12:35 PM | 2 Comments
Aug. 15, 2011, 2:23 PM
Republic Services (RSG +4%) holds on to gains after announcing a $750M share repurchase earlier today.| Aug. 15, 2011, 2:23 PM