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Republic Services Q2 profit climbs 9.6% YOY

Republic Services Inc. said its second-quarter normalized net income amounted to 62 cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS climbed 11.3% year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $209.6 million, a gain of 9.6% from $191.2 million in the prior-year period.

The normalized profit margin increased to 8.3% from 8.1% in the year-earlier period.

Total revenue rose 7.5% on an annual basis to $2.53 billion from $2.35 billion, and total operating expenses rose 7.4% from the prior-year period to $2.10 billion from $1.95 billion.

Reported net income rose 13.6% year over year to $204.0 million, or 60 cents per share, from $179.5 million, or 52 cents per share.