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Republic Services Q1 profit climbs 10.6% YOY

Republic Services Inc. said its first-quarter normalized net income amounted to 53 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS increased 12.2% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $182.7 million, a gain of 10.6% from $165.1 million in the prior-year period.

The normalized profit margin increased to 7.6% from 7.3% in the year-earlier period.

Total revenue grew 6.4% year over year to $2.39 billion from $2.25 billion, and total operating expenses climbed 6.5% year over year to $2.01 billion from $1.89 billion.

Reported net income grew 20.5% from the prior-year period to $188.0 million, or 55 cents per share, from $156.0 million, or 45 cents per share.