Garbage hauler Republic Services, Inc. (
) late Thursday said its third quarter profit rose from last year,
but results missed analyst estimates, sending its shares lower in
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
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
Republic Services shares fell 94 cents, or -3.1%, in premarket
The Bottom Line
Shares of Republic Services (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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