Republic Services (RSG)

Republic Services reported for the full year 2009 earnings of $495 million, or $1.30 per share, on sales of $8.199 billion. That compares to the prior year earnings of $73 million, or $.38 per share, on sales of $3.685 billion.
"We are pleased to report that we have exceeded our original 2009 guidance for earnings, free cash flow and margins," said James E. O'Connor, Chairman and Chief Executive Officer of Republic Services, Inc. "We achieved annual run rate synergy savings of $150 million, well ahead of our plan. During 2009, we repaid $740 million of our debt. We also took advantage of the favorable interest rate environment by issuing $1.25 billion of new debt and using the proceeds to repay existing debt. Our strong operational and financial performance during 2009 has left us well positioned for future success, as evidenced by our double digit 2010 earnings growth guidance."

Feb 12 · 11:02:00 PM · Source: Reuters
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by Michael Oliveto