Republic Services (RSG) Q3 2026 Earnings Review: Pricing supports a higher sales outlook

Q3 2026 earnings recap

Republic Services raised its annual sales and cash-flow outlook after stronger pricing and environmental services helped offset weaker waste volumes.

• Adjusted profit per share of $1.94 edged past the $1.93 forecast, while revenue of $4.56 billion beat the $4.42 billion forecast.
• The annual sales outlook rose to $17.43–17.475 billion from $17.2–17.300 billion, giving investors a higher growth target for the final quarter.
• Pricing added 2.9% to total revenue while lower volumes reduced it by 0.6%, highlighting the importance of price discipline when demand is softer.
• Year-to-date adjusted free cash flow reached $2.28 billion, and the annual target increased to $2.57–2.585 billion from $2.54–2.575 billion.
• The board authorized $5 billion of share buybacks for 2027–2029, creating capacity for future cash returns without guaranteeing purchases.
• At the $236.28 regular close, shares traded near 33 times trailing reported profit, with the recent $242–243 highs still overhead.

The next test is whether pricing and environmental services sustain growth, while weaker waste volumes, fuel costs and acquisition execution remain risks.