# Republic Services (RSG) - Recent Events ## Filings that contain financial statements Each earnings release below is furnished as Exhibit 99.1 to a Form 8-K. The Q3 release holds full statements; the others are listed for tracing. - Form 8-K filed 2026-10-29, accession 0001060391-26-000326: unaudited consolidated balance sheet (September 30, 2026 vs. December 31, 2025), income statement (three and nine months ended September 30, 2026 and 2025), and cash flow statement (nine months ended September 30, 2026 and 2025), plus revenue, cost and non-GAAP reconciliation tables. - Form 8-K filed 2026-08-06, accession 0001060391-26-000273: second-quarter 2026 release (three and six months ended June 30, 2026) with statements and reconciliations. - Form 8-K filed 2026-05-07, accession 0001060391-26-000210: first-quarter 2026 release (three months ended March 31, 2026) with statements and reconciliations. - Form 8-K filed 2026-02-17, accession 0001060391-26-000093: fourth-quarter and full-year 2025 release with statements and reconciliations. ## Earnings and guidance **2026-10-29 - Third-quarter 2026 results and raised guidance (8-K, accession 0001060391-26-000326).** Revenue was $4,559 million, up 8.2% from $4,212 million; net income attributable to Republic was $592 million, or $1.93 per diluted share, against $550 million, or $1.76, a year earlier. Adjusted EPS was $1.94 versus $1.90, and adjusted EBITDA was $1.449 billion (31.8% margin, versus 32.8%). Revenue growth included 4.8 points of organic growth in recycling and waste, 2.1 points from environmental solutions and 1.3 points from acquisitions. Year-to-date operating cash flow was $3.519 billion and adjusted free cash flow $2.276 billion. The company raised full-year 2026 guidance to revenue of $17.425 billion to $17.475 billion (from $17.200 billion to $17.300 billion), adjusted EBITDA of $5.550 billion to $5.575 billion (from $5.525 billion to $5.550 billion) and adjusted free cash flow of $2.565 billion to $2.585 billion (from $2.540 billion to $2.575 billion). Net income guidance of $2,210 million to $2,220 million was unchanged from the August guidance. **2026-08-06 - Second-quarter 2026 results (8-K, accession 0001060391-26-000273).** Net income was $566 million, or $1.84 per diluted share (adjusted $1.85), against $1.75 (adjusted $1.77) a year earlier; revenue grew 4.6% and adjusted EBITDA was $1.42 billion (32.1% margin). The company increased its full-year guidance: revenue $17.200 billion to $17.300 billion (original range $17,050 million to $17,150 million), adjusted EBITDA $5.525 billion to $5.550 billion (original $5,475 million to $5,525 million), adjusted diluted EPS $7.23 to $7.28 (original $7.20 to $7.28) and adjusted free cash flow $2.540 billion to $2.575 billion (original $2,520 million to $2,560 million). **2026-05-07 - First-quarter 2026 results (8-K, accession 0001060391-26-000210).** Net income was $525 million, or $1.70 per diluted share (up from $1.58); revenue grew 2.6% and adjusted EBITDA was $1.32 billion (32.1% margin, up 50 basis points). Operating cash flow was $1.23 billion and adjusted free cash flow $984 million. The release cites more than $700 million invested in acquisitions to date. **2026-02-17 - Fourth-quarter and full-year 2025 results with initial 2026 guidance (8-K, accession 0001060391-26-000093).** Full-year 2025 net income was $2.14 billion, or $6.85 per diluted share (adjusted $7.02); adjusted EBITDA was $5.31 billion (32.0% margin) and adjusted free cash flow $2.43 billion. Initial 2026 guidance: revenue $17,050 million to $17,150 million, adjusted EBITDA $5,475 million to $5,525 million, diluted EPS $7.14 to $7.22 (adjusted $7.20 to $7.28), and adjusted free cash flow $2,520 million to $2,560 million. **2025-10-30 - Third-quarter 2025 results (8-K, accession 0001628280-25-047534).** The company said it expected 2025 revenue near the low end of its updated range of $16.675 billion to $16.750 billion. ## Capital actions **Share repurchases.** On 2026-10-28 the Board approved a new $5 billion repurchase authorization effective January 1, 2027 and running through December 31, 2029. About $0.8 billion remained under the prior authorization at September 30, 2026, which continues through December 31, 2026 (accession 0001060391-26-000326). Year-to-date through the third quarter, $848 million of shares were repurchased and $577 million of dividends paid; in the third quarter alone the company repurchased 0.9 million shares for $197 million. **Dividends.** On 2026-07-28 the Board raised the quarterly dividend by 4.5 cents to $0.670 per share, payable October 15, 2026 to holders of record October 2, 2026 (8-K filed 2026-07-30, accession 0001060391-26-000266). On 2026-10-28 it declared a further $0.670 per share, payable January 15, 2027 to holders of record January 4, 2027 (accession 0001060391-26-000326). This follows the July 2025 increase to $0.625 (8-K filed 2025-07-24, accession 0001060391-25-000211). Intervening $0.625 declarations were made on 2025-10-22 (accession 0001628280-25-046086), 2026-02-10 (accession 0001060391-26-000066) and 2026-05-05 (accession 0001060391-26-000210). **Debt issuance.** On 2026-06-22 the company agreed to sell $700 million of 4.750% notes due 2031 and $500 million of 5.000% notes due 2036 to underwriters led by BofA Securities and Wells Fargo Securities, with closing expected on or about June 26, 2026 (8-K filed 2026-06-24, accession 0001193125-26-279862). The quarterly report for September 30, 2026 (10-Q, accession 0001060391-26-000327) confirms the notes were issued in June 2026 and that proceeds went to general corporate purposes, including repaying credit facility and commercial paper borrowings. ## Acquisitions (closed) The company reports that it has invested about $1.1 billion in acquisitions year-to-date through September 30, 2026 (cash used $1.117 billion on the cash flow statement; $1,103 million net of cash acquired in the acquisition note). The September 30, 2026 10-Q (accession 0001060391-26-000327) states these deals closed, naming three: - February 2026: acquired assets and assumed liabilities of Hamm, LLC, N.R. Hamm Quarry, LLC, N.R. Hamm Contractor, LLC and Cornejo & Sons, LLC, a vertically integrated recycling and waste business in Kansas. - May 2026: acquired the equity interests of Robinson Waste Holdings Group, LLC, a vertically integrated recycling and waste business in Utah. - July 2026: acquired assets from TD*X Associates LP, a hazardous waste thermal treatment business on one of the company's Texas landfills. The 10-Q describes the acquisitions as not material individually or in the aggregate. No purchase prices for the individual deals are disclosed in the filings reviewed. No 8-K announced any of these transactions. ## Governance - 2026-02-10: the Board appointed Ian Craig as a director, effective immediately, to the Audit Committee and the Sustainability & Corporate Responsibility Committee (8-K filed 2026-02-12, accession 0001060391-26-000066). - 2026-02-10: bylaws amended to extend the exclusive forum provision to stockholder actions that are not "internal corporate claims" under Delaware law (8-K filed 2026-02-17, accession 0001060391-26-000072). - 2026-05-07: annual meeting held; all thirteen director nominees were elected (8-K filed 2026-05-11, accession 0001060391-26-000215). ## Not in the filings No 8-K in this period reports a merger agreement, an impairment, a restructuring plan, a covenant issue or a material legal outcome.