While reporting its results for the fourth quarter, Republic Services (RSG) issued an earnings outlook for the full year 2022, mid-point of which is expected to miss Street view.
Looking forward to full year 2022, the company expects adjusted earnings of $4.58 to $4.65 per share. Analysts polled by Thomson Reuters currently estimate earnings of $4.63 per share.
Republic expects to invest at least $500 million in acquisitions and $175 million in solar energy investments that qualify for tax credits.
"We expect to deliver another strong year of earnings and free cash flow in 2022 through outsized revenue growth, margin expansion and free cash flow conversion improvement," said CEO Jon Vander Ark. "This financial outlook is a direct result of leveraging our broad capabilities, delivering comprehensive products and services, and developing innovative solutions to drive profitable growth and create a more sustainable world."
Republic also declared a quarterly dividend of $0.46 per share for shareholders of record on April 1, 2022. The dividend will be paid on April 14, 2022.
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