Republic Services Invested $437 Million in Acquisitions in 2017
Going forward, Republic Services adjusted free cash flow to range between $1,090 million and $1,115 million in 2018. The EBITDA margins in 2018 are expected to expand to nearly 29%.
SEATTLE (Scrap Monster): Industry-leading U.S. waste and recycling services provider, Republic Services Inc. has reported exceptional financial and operating results for Q4 and for the full year 2017. The full-year results have exceeded the upper end of the guidance range. Operationally, the company made investments amounting to approximately $437 million during the year.
The company posted high single digit growth in revenue, earnings and free cash flow per share. For the full year, the company reported net income of $1,278.4 million, as compared with $612.6 million in 2016. On an adjusted basis, the net yearly income totaled $822.2 million. The adjusted net income during the last quarter of 2017 totaled $203.8 million as compared with $193.8 million during the corresponding quarter in 2016.
The Q4 revenues registered 7.6% jump over the previous year. This includes average yield of 2.4% and volume growth of 2.7%. The full-year total revenue was up by 7% from 2016. The full-year adjusted EBITDA stood at $2.58 billion. Republic Services returned approximately $1.1 billion in cash to shareholders during the previous year.
The company reported several operational improvements during 2017. The percentage of fleet operating on natural gas jumped higher from 18% in 2016 to 19% in 2017. In addition, the company has also achieved 75% automation of its residential fleets.
In recognition of the exemplary operational performance, the company had won several accolades during the year. It was the only recycling and waste service provider to be named to Forbes 2017 America's Best Large Employers list, Glassdoor Employees' Choice Award, 2017 Dow Jones Sustainability World and North America Indices. In addition, it was also named to the 2017 World's Most Ethical Companies List by the Ethisphere Institute.
Going forward, Republic Services adjusted free cash flow to range between $1,090 million and $1,115 million in 2018. The EBITDA margins in 2018 are expected to expand to nearly 29%. Also, the revenues are expected to surge higher by 4.0% to 4.5%.