Republic Services Inc. has reported net income of $132.5 million, or 0.37 cents per diluted share for the three months ended March 31, 2014, compared to $124.6 million, or 0.34 cents per diluted share for the first quarter of 2013.
“The company performed well in the first quarter despite severe winter weather conditions,” said Donald Slager, Republic’s president and CEO. “We continued to see positive momentum in our business, which was consistent with our expectations. We generated strong free cash flow in the first quarter and returned approximately $226 million to shareholders through share repurchases and dividends,” he added.
Revenue climbed 3.8 per cent to $2.07 billion .
Excluding certain expenses and benefits recorded during the three months ended March 31, 2014 and 2013, as described in the Reconciliation of Certain Non-GAAP Measures section of this document, adjusted earnings before interest, taxes, depreciation, depletion, amortization and accretion for the three months ended March 31, 2014, would have been $574.8 million, or 27.7 per cent of revenue, compared to $569.3 million, or 28.5 per cent of revenue, for the comparable 2013 period.
For the company’s full, detailed quarterly report, please click here.