Republic Services, Inc. Reports Third Quarter Earnings of $0.52 Per Share
– Repurchased more than 4% of Company stock during the past twelve months
– Reaffirms EPS and free cash flow guidance
Republic’s net income for the three months ended September 30, 2011 and 2010 includes a number of charges and other expenses that impacted its results. A detail of these charges and other expenses is contained in the Reconciliation of Certain Non-GAAP Measures section of this document. Excluding these items, net income for the three months ended September 30, 2011 and 2010 would have been $198.5 million, or $0.53 per diluted share, and $172.8 million, or $0.45 per diluted share, respectively. Continue reading
Warren Buffett likes trash.
The well-known investor, whose every financial move is watched closely by Wall Street, has substantially increased his investment in Republic Services Inc., the nation´s No. 2 solid waste management company.
In a new filing with the U.S. Securities and Exchange Commission, Buffett´s Berkshire Hathaway Inc. says it held 8,290,500 shares of the company´s stock as of the end of 2009.
That compares with 3,625,000 shares at the end of last year´s third quarter.
Buffett joins billionaire buddy Bill Gates with substantial holdings in Republic Services. Gates has been a long-time investor in the company, and Buffett only started buying stock within recent months. Berkshire Hathaway, a publicly traded company, owns stock in about 40 other firms.
Contact Waste & Recycling News senior reporter Jim Johnson at 937-964-1289 or firstname.lastname@example.org