Republic Services (RSG) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Republic Services published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Republic Services reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue here is Republic's reported revenue, net of intercompany sales. Before intercompany eliminations its segments' gross revenue was $5,205 million in Q3 2026.
• The year-ago quarter included $56 million of costs and customer credits from labor disruptions in certain isolated markets, which Republic excluded from its adjusted EPS.

Source: Republic Services Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Republic Services splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Republic Services's Group 1 (recycling and waste, western U.S.) revenue was $2.1 billion in Q3 2026, up 10% from $1.9 billion in Q3 2025, 46% of total revenue.
• Republic Services's Group 2 (recycling and waste, southeast, mid-west, eastern seaboard and Canada) revenue was $1.9 billion in Q3 2026, up 4% from $1.9 billion in Q3 2025, 43% of total revenue.
• Republic Services's Group 3 (environmental solutions) revenue was $529 million in Q3 2026, up 22% from $433 million in Q3 2025, 12% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Republic Services said:

“Revenue: Increased most recent guidance to a range of $17.425 billion to $17.475 billion”

“Adjusted EBITDA: Increased most recent guidance to a range of $5.550 billion to $5.575 billion”

“Adjusted Free Cash Flow: Increased most recent guidance to a range of $2.565 billion to $2.585 billion”

“Republic's financial guidance is based on current economic conditions and does not assume any significant changes in the overall economy for the remainder of 2026.”

Source: Republic Services Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the RSG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue and GAAP diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Republic Services's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Republic Services' revenue was $4,559 million in Q3 2026, up 8.2 percent from $4,212 million a year earlier. Republic broke the growth into 4.8 percent organic growth from its recycling and waste business, 2.1 percent from its environmental solutions business and 1.3 percent from acquisitions. (Republic Services Q3 2026 release, Oct 29, 2026)

Collection is two thirds of the business: $3,039 million, or 66.7% of revenue, made up of small-container ($1,379 million), large-container ($859 million) and residential ($782 million). Net of intercompany sales, landfill brought in $516 million, environmental solutions $529 million, transfer $242 million, and recycling processing and commodity sales $122 million. (Republic Services Q3 2026 release, Oct 29, 2026)

Republic's core price added 5.3 percent to total revenue, average yield 2.9 percent and fuel recovery fees 1.8 percent, while volume reduced revenue by 0.6 percent. Measured against related business revenue, core price was 6.3 percent: 7.6 percent in the open market and 4.1 percent in the restricted portion of the business. Construction and demolition waste volume at landfills fell 38.2%, and the average recycled commodity price was $142 per ton, $16 higher than a year earlier. (Republic Services Q3 2026 release, Oct 29, 2026)

Republic reports three segments. Group 1 is recycling and waste mainly in the western United States ($2,092 million of net revenue), Group 2 is recycling and waste in the southeastern and mid-western U.S., the eastern seaboard and Canada ($1,938 million), and Group 3 is environmental solutions across the U.S. and Canada ($529 million). Environmental solutions' adjusted EBITDA margin rose to 25.4 percent from 21.0 percent. (Republic Services Form 10-Q, Q3 2026, Oct 30, 2026; Republic Services Q3 2026 release, Oct 29, 2026)

As of September 30, 2026 Republic operated 389 collection operations, 260 transfer stations, 84 recycling centers and 208 active landfills. Tipping fees charged to third parties at its landfills were about 12% of 2025 revenue. Year to date it spent $1.12 billion of cash on acquisitions. (Republic Services Form 10-Q, Q3 2026, Oct 30, 2026; Republic Services Form 10-K, 2025, Feb 18, 2026; Republic Services Q3 2026 release, Oct 29, 2026)

Republic Services' diluted EPS was $1.93 in Q3 2026, against $1.76 a year earlier, and adjusted EPS was $1.94, against $1.90. This quarter's only adjustment was $0.01 a share of restructuring charges, mainly for a new accounts receivable system. The year-ago adjusted figure excluded $0.13 a share for labor disruptions, so GAAP EPS grew 9.7 percent and adjusted EPS 2.1 percent. (Republic Services Q3 2026 release, Oct 29, 2026)

Below operating income Republic recorded a $48 million loss from unconsolidated equity method investments, against $57 million a year earlier; its adjusted EBITDA adds this back and its adjusted EPS does not. The effective tax rate was 17.6%, against 14.7%, and included net benefits of $41 million from investments in renewable energy assets and $11 million from renewable natural gas projects and electric vehicle infrastructure. (Republic Services Q3 2026 release, Oct 29, 2026; Republic Services Form 10-Q, Q3 2026, Oct 30, 2026)

Diluted shares were 306.5 million, against 312.0 million a year earlier. Republic repurchased 0.9 million shares for $197 million in the quarter at a weighted average cost of $215.18, and on October 28, 2026 its board approved a $5 billion repurchase authorization running from January 1, 2027 through December 31, 2029. (Republic Services Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Republic Services gives full-year guidance in its release, not a quarterly EPS outlook. With Q3 2026 it raised its 2026 ranges to revenue of $17.425 billion to $17.475 billion, adjusted EBITDA of $5.550 billion to $5.575 billion and adjusted free cash flow of $2.565 billion to $2.585 billion, and said the guidance assumes no significant changes in the overall economy for the remainder of 2026. (Republic Services Q3 2026 release, Oct 29, 2026)

Republic's reconciliation of that guidance implies full-year net income of $2,210 million to $2,220 million, including a $200 million loss from unconsolidated equity method investments. (Republic Services Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Republic Services, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Republic Services's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning RSG is on is RSG a buy or a sell?, what analysts expect next is on the RSG forecast, and what the company does is on the Republic Services (RSG) stock page.

Every number on this page can be traced to a document Republic Services published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.