BleeckerStreet
16 years ago
Another nice day at RSG,after yesterday's earnings
Republic Services, Inc. Reports First Quarter Earnings Per Share of $.30
Thursday 04/30/2009 7:09 PM ET - Pr Newswire
Related Companies
Symbol Last %Chg
RSG 22.68 8.00%
As of 4:02 PM ET 5/1/09
Republic Services, Inc. (NYSE: RSG) today reported net income for the three months ended March 31, 2009 of $113.0 million, or $.30 per diluted share, compared to net income of $76.1 million, or $.41 per diluted share, for the same period in 2008. Our first quarter 2009 financial results include Allied Waste Industries, Inc. (Allied) which merged with Republic on December 5, 2008. Operating income for the three months ended March 31, 2009 was $353.0 million compared to $142.2 million for the comparable period in 2008. Operating income before depreciation, amortization, depletion and accretion for the three months ended March 31, 2009 was $598.1 million, or 29.0% of revenue compared to $220.0 million, or 28.2% of revenue in 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020531/RSGLOGO)
Revenue for the three months ended March 31, 2009 increased to $2,060.5 million compared to $779.2 million for the same period in 2008. Core price for the three months ended March 31, 2009 (assuming the merger with Allied had occurred on January 1, 2008) increased 3.5%. Internal growth for the three months ended March 31, 2009 (assuming the merger with Allied had occurred on January 1, 2008) decreased 8.6% (consisting of a 3.5% price increase offset by decreases of 8.0% in core volume, 2.9% in commodity prices and 1.2% in fuel charges).
Commenting on these results, James E. O'Connor, Chairman and Chief Executive Officer of Republic Services, said, "During the first quarter, we continued to see positive results regarding the merger of Republic and Allied. Thus far, we have captured more than $75 million in annual run-rate synergy savings. We are well on our way, and remain confident in our commitment, to secure a total annual savings of at least $150 million by the end of 2010."
"The field organization has done an excellent job managing costs through improved efficiency and productivity during the economic downturn which has resulted in significant margin expansion," said Donald W. Slager, President and COO of Republic Services, Inc. "Customer service and effective pricing continue to be the primary focus of our business in 2009. We remain committed to achieving our previous pricing guidance of 4% for the full year."
In April 2009, we received approximately $332 million in proceeds from the sale of certain businesses mandated by the United States Department of Justice. These proceeds were used to repay amounts borrowed under our revolving credit facility.
Company Declares Quarterly Dividend
Republic also announced that its Board of Directors declared a regular quarterly dividend of $.19 per share for shareholders of record on July 1, 2009. The dividend will be paid on July 15, 2009.
About Republic Services, Inc.
Republic Services, Inc. is a leading provider of services in the domestic, non-hazardous solid waste industry. We provide solid waste collection, transfer, disposal and recycling services for commercial, industrial, municipal and residential customers through 400 collection companies in 40 states and Puerto Rico. We also own or operate 242 transfer stations, 213 solid waste landfills and 78 recycling facilities. Republic serves millions of residential customers under contracts with more than 3,000 municipalities for waste collection and residential services. For more information, visit the Republic Services web site at www.republicservices.com.
BleeckerStreet
16 years ago
Clean Energy and Republic Services, Inc., 2nd Largest Refuse Company in the US, Establish Partnership to Supply First CNG Refuse Fleet in Idaho
Monday 04/20/2009 8:00 AM ET - Businesswire
Related Companies
Symbol Last %Chg
CLNE 8.29 2.73%
RSG 20.71 6.04%
As of 4:02 PM ET 4/29/09
Republic Services, Inc. (NYSE:RSG), the City of Boise, Idaho's waste and recycling collection services contractor, has awarded Clean Energy Fuels Corp. (Nasdaq:CLNE) a contract to build and operate a compressed natural gas (CNG) time-fill station and provide fuel for Republic's planned deployment of a new CNG refuse truck fleet that will be the first in Idaho. Republic has an exclusive contract with the City of Boise to provide all solid waste and recycling services to more than 68,000 residential and commercial customers in the Greater Boise area. The company operated under the name Allied Waste until a December 2008 merger with Republic, when the two combined to form the second largest solid waste management company in the United States.
"The use of these clean-burning CNG trucks as replacements for our older diesel models aligns with the City of Boise's strategic plan to combat climate change, reduce greenhouse gas emissions and ensure air quality improvements," said Dave Fisher, Republic's Boise general manager. "CNG has proven to be cleaner burning than gasoline or diesel fuel, significantly lowering harmful emissions like nitrogen oxides, particulate matter, toxic pollutants and greenhouse gas carbon dioxide."
Fisher added, "We also believe that natural gas fuel, because it is a domestic resource, is a positive move for the country which will help us reduce our dependence on imported foreign oil."
Boise is home to one-third of Idaho's population and much of the state's industrial and business base, which concentrates in the Treasure Valley section of the city. After careful analysis, the city and Republic determined that a CNG refuse fleet would bring significant air quality and environmental benefits to the area, and help Boise achieve consistent compliance with increasingly stringent standards set by the Environmental Protection Agency.
Ray Burke, Clean Energy Vice President, said, "We congratulate both the City of Boise and Republic for their demonstrated commitment to environmental quality and their choice of clean-burning CNG trucks to provide refuse services to their citizens. We are proud to work with them to support the first CNG-powered trash truck fleet in Idaho, and believe that this can serve as a model for implementing clean refuse collection policies in cities throughout Idaho."
Clean Energy is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 15,000 vehicles at 176 strategic locations across the United States and Canada. Clean Energy owns and operates two LNG production plants, one in Willis, TX and one in Boron, CA, with combined capacity of 260,000 LNG gallons per day and designed to expand to 340,000 LNG gallons per day as demand increases. It also owns and operates a landfill gas processing facility in Dallas, TX that produces renewable biomethane gas for delivery in the nation's gas pipeline network. Please visit www.cleanenergyfuels.com
Republic Services, Inc. has been building on success since its inception in 1998, becoming an industry-leading provider of waste and environmental services. The company provides trash collection services to commercial, industrial, municipal and residential customers in 40 states and Puerto Rico through its 400 collection companies. Republic Services owns or operates 242 transfer stations, 213 solid waste landfills and 79 recycling facilities. The company is headquartered in Phoenix, Arizona and has more than 35,000 employees. For more information, visit the Republic Services web site at www.republicservices.com
Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including statements about the use of CNG vehicles by RSI, the associated environmental benefits of using CNG fuel as compared to diesel and the potential procurement of CNG refuse vehicles by other refuse fleet operators in the State of Idaho. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including unanticipated delays in the completion of the CNG station, problems incurred during the construction phase of the CNG station, the timing of any CNG vehicle purchases by RSI and the availability and performance of CNG refuse collection vehicles. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Clean Energy
News Media
Clean Energy
Bruce Russell, 310-559-4955 x101
brussell@cleanenergyfuels.com
or
Republic Services, Inc.
Peg Mulloy, 480-627-2887
mulloyp@repsrv.com
or
Investors/Clean Energy
Ina McGuinness, 310-954-1100
BleeckerStreet
16 years ago
Some insider buying here
Insider Activity for Investment L. Cascade
Transaction Date Transaction Type Ownership Type Market Value Shares Price Range Total Holdings
February 6, 2009 Purchase Direct $12.3M 500,000.00 $24.52 - 24.52 46,894,600.00
February 5, 2009 Purchase Direct $12.2M 500,000.00 $24.50 - 24.50 46,394,600.00
February 4, 2009 Purchase Direct $12.5M 500,000.00 $25.02 - 25.02 45,894,600.00
February 3, 2009 Purchase Direct $12.6M 500,000.00 $25.12 - 25.12 45,394,600.00
February 2, 2009 Purchase Direct $12.5M 500,000.00 $25.02 - 25.79 44,894,600.00
January 30, 2009 Purchase Direct $15.7M 600,000.00 $26.16 - 26.16 44,394,600.00
January 29, 2009 Purchase Direct $13.2M 500,000.00 $26.38 - 26.38 43,794,600.00
January 28, 2009 Purchase Direct $10.8M 409,534.00 $26.45 - 26.45 43,294,600.00
January 27, 2009 Purchase Direct $8.9M 341,461.00 $26.20 - 26.20 42,885,000.00
January 26, 2009 Purchase Indirect $11.7M 450,000.00 $25.93 - 25.93 42,543,600.00
January 23, 2009 Purchase Direct $12.7M 500,000.00 $25.48 - 25.48 42,093,600.00
January 22, 2009 Purchase Direct $12.8M 500,000.00 $25.50 - 26.03 41,593,600.00
January 21, 2009 Purchase Direct $11.5M 450,000.00 $25.64 - 25.64 41,093,600.00
January 20, 2009 Purchase Direct $12.7M 500,000.00 $25.35 - 25.35 40,643,600.00
January 16, 2009 Purchase Direct $10.6M 423,138.00 $25.13 - 25.67 40,143,600.00
January 15, 2009 Purchase Direct $6.4M 275,000.00 $22.87 - 23.95 39,720,400.00
January 14, 2009 Purchase Indirect $10.0M 440,000.00 $22.74 - 22.74 39,445,400.00
January 13, 2009 Purchase Direct $8.9M 371,500.00 $23.85 - 23.85 39,005,400.00
January 12, 2009 Purchase Direct $12.2M 500,000.00 $24.33 - 24.33 38,633,900.00
January 9, 2009 Purchase Direct $12.7M 500,000.00 $25.43 - 25.43 38,133,900.00
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