Waste disposal specialist Republic Services, Inc. (
) on Friday posted lower-than-expected first quarter earnings
results and lowered its full-year outlook, sending its shares
plummeting its premarket trading.
The Phoenix-based company reported first quarter net income of
$142.9 million, or 38 cents per share, compared with $158.2
million, or 41 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 38 cents per share.
Revenue rose nearly 1% from last year to $1.98 billion.
On average, Wall Street analysts expected a higher profit of 42
cents per share, on slightly lower revenue of $1.97 billion.
Looking ahead, RSG lowered its full-year 2012 earnings forecast
to a range of $1.86 to $1.90 per share, down from a prior outlook
of $1.98 to $2.02.
Republic Services shares fell $2.14, or -6.9%, in premarket
The Bottom Line
Shares of Republic Services (
) have a 2.83% dividend yield, based on last night's closing stock
price of $31.14. The stock has technical support in the $27-$28
price area. If the shares can firm up, we see overhead resistance
around the $33-$35 price levels.
Republic Services, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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