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23 Republic Services , Inc. Reports Second Quarter 2021 Results July 29 , 2021 REPUBLIC SERVICES - Generated Earnings Per Share of $ 1.03 and Adjusted Earnings Per Share of $ 1.09 , an Increase of 36 Percent Over the Prior Year - Expanded Adjusted EBITDA Margin 110 Basis Points - Generated Cash Flow from Operations of $ 1.5 billion and Adjusted Free Cash Flow of $ 1.0 billion on a Year to Date Basis - Raised 2021 Full - Year Financial Guidance - Increased Quarterly Dividend by Approximately 8 Percent PHOENIX , July 29 , 2021 / PRNewswire / -- Republic Services , Inc. ( NYSE : RSG ) today reported net income of $ 331.1 million , or $ 1.03 per diluted share , for the three months ended June 30 , 2021 , versus $ 225.5 million , or $ 0.71 per diluted share , for the comparable 2020 period . Excluding certain benefits and expenses , on an adjusted basis , net income for the three months ended June 30 , 2021 was $ 349.9 million , or $ 1.09 per diluted share , versus $ 256.9 million , or $ 0.80 per diluted share , for the comparable 2020 period . " Our second quarter results reflect even further acceleration in our business , which is a direct outcome of continued progress on our strategic priorities , " said Jon Vander Ark , president and chief executive officer . " During the second quarter we grew the top line 15 percent , increased adjusted earnings per share by 36 percent and expanded adjusted EBITDA margin 110 basis points . As a result of these strong results we are raising full - year financial guidance for the second time this year . " Second - Quarter 2021 Highlights : • Second quarter EPS was $ 1.03 per share , and adjusted EPS , a non - GAAP measure , was $ 1.09 per share , an increase of 36 percent over the prior year . • Year - to - date cash provided by operating activities was $ 1.5 billion , an increase of 11 percent versus the prior year . Adjusted free cash flow , a non - GAAP measure , was $ 1.0 billion , an increase of 38 percent versus the prior year . • Year - to - date cash invested in acquisitions was $ 567 million , or $ 521 million net of divestitures . • Year - to - date cash returned to shareholders through dividends and share repurchases was $ 363 million . • Second quarter core price increased revenue by 5.2 percent . Core price consisted of 6.5 percent in the open market and 3.0 percent in the restricted portion of the business . • Second quarter revenue growth from average yield was 2.6 percent and volume increased 8.1 percent . • Second quarter adjusted EBITDA margin , a non - GAAP measure , was 30.6 percent of revenue and increased 110 basis points from the prior year . • The Company's average recycled commodity price per ton sold during the second quarter was $ 170 . This represents a sequential increase from the first quarter of $ 37 per ton and an increase of $ 69 per ton versus the prior year . • Republic continued to convert CPI - based contracts to more favorable pricing mechanisms for the annual price adjustment . The Company now has approximately $ 950 million in annual revenue tied to the water - sewer - trash index or a fixed - rate increase of 3 percent or greater . • The Company was named to 3BL Media's 100 Best Corporate Citizens list for the second consecutive year . This award recognizes outstanding environmental , social and governance ( ESG ) transparency and performance among the 1,000 largest U.S. public companies . Raised Full - Year 2021 Financial Guidance Republic raised its full - year adjusted diluted EPS guidance to $ 4.00 to $ 4.05 and its full - year adjusted free cash flow guidance to $ 1,450 million to $ 1,475 million . Please refer to the Information Regarding Forward - Looking Statements section of this document . Company Increases Quarterly Dividend Republic's Board of Directors approved an increase in the quarterly dividend from $ 0.425 per share to $ 0.46 per share , which represents an increase of approximately 8 percent . " We are raising our quarterly dividend by approximately 8 percent , " Vander Ark said . " This is the seventeenth consecutive year we've increased our dividend , which demonstrates our commitment to efficiently return cash to shareholders . "