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Republic Services profit beats consensus by 15.2% in Q1

Republic Services Inc. said its first-quarter normalized net income amounted to 50 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS climbed 31.5% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $177.7 million, an increase of 29.2% from $137.5 million in the prior-year period.

The normalized profit margin increased to 8.2% from 6.6% in the year-earlier period.

Total revenue rose year over year to $2.17 billion from $2.08 billion, and total operating expenses climbed from the prior-year period to $1.80 billion from $1.77 billion.

Reported net income rose 30.2% on an annual basis to $173.9 million, or 49 cents per share, from $133.6 million, or 37 cents per share.