Republic Services Q3 Profit Rises, but Misses View (RSG)

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Garbage hauler Republic Services, Inc. ( RSG ) late Thursday said its third quarter profit rose from last year, but results missed analyst estimates, sending its shares lower in aftermarket trading.

The Phoenix-based company reported third quarter net income of $134.2 million, or 35 cents per share, compared with $120.5 million, or 32 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 45 cents per share.

On average, Wall Street analysts expected a slightly higher profit of 46 cents per share.

Revenue edged down slightly from last year to $2.06 billion from $2.07 billion.

Looking ahead, the company reaffirmed its full-year adjusted earnings outlook of $1.69 to $1.71 per share. CEO Donald Slager said that "Based on what we see in the economic and business environment, we expect 2011 EPS to grow by about 10 percent, which includes the benefit of our share repurchase program."

That repurchase program includes some $400 million in stock buybacks.

Republic Services shares fell 94 cents, or -3.1%, in premarket trading Friday.

The Bottom Line
Shares of Republic Services ( RSG ) have a 2.67% dividend yield, based on last night's closing stock price of $29.95. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $32-$33 price levels.

Republic Services, Inc. ( RSG ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: RSG

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