Republic Services (RSG) Q3 2025 10-Q Quarterly Report

Filed: Oct 31, 2025Period ending Sep 30, 2025
Utilities
Refuse SystemsSEC EDGAR

Republic Services (RSG) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 31, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Republic Services Q3 2025 10-Q Analysis

Management Discussion & Analysis

  • Revenue $4,212M Q3 FY2025, up 3.3% YoY from $4,076M Q3 FY2024; nine months $12,456M up 3.9% YoY from $11,986M
  • Operating margin 19.9% Q3 FY2025 vs 20.8% Q3 FY2024; nine months 20.1% FY2025 vs 20.0% FY2024
  • Best performing segment: Group 1 EBITDA $660M Q3 FY2025 up from $597M YoY; worst: Group 3 EBITDA $88M down from $117M YoY
  • Operating cash flow $3,315M nine months FY2025 vs $2,914M FY2024; acquisitions paid $1,259M FY2025 vs $400M FY2024; share repurchases $599M FY2025 vs $321M FY2024
  • Management expects to invest $1.1B in acquisitions in 2025; notes labor disruptions with $56M impact in Q3 FY2025; tax rate 14.7% Q3 FY2025 vs 12.5% Q3 FY2024; total debt/EBITDA 2.5x within covenant limits

Risk Factors

  • No new or materially changed risk factors this quarter compared to 2024 10-K
  • Continued exposure to regulatory risks affecting environmental and safety compliance
  • Operational risks from service disruptions or adverse weather impacting waste collection
  • Competitive pressure in waste management markets influencing pricing and contract renewals
  • Financial risks related to liquidity management and debt maturities as outlined in 2024 10-K

Republic Services Q3 2025 Quarterly Financials
XBRL

Revenue

$4.2B

+3.3% YoY -0.5% QoQ

Net Income

$550M

-2.8% YoY -0.0% QoQ

Net Margin

13.1%

-83bp YoY +7bp QoQ

Source: XBRL data from Republic Services Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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