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23 Republic Services , Inc. Reports Third Quarter 2021 Results October 28 , 2021 REPUBLIC SERVICES - Total Revenue Growth of Approximately 14 Percent - Delivered Earnings Per Share of $ 1.10 and Adjusted Earnings Per Share of $ 1.11 , an Increase of 11 Percent Over the Prior Year - Generated Cash Flow from Operations of $ 2.1 billion and Adjusted Free Cash Flow of $ 1.4 billion on a Year - to - Date Basis - Expanded Adjusted EBITDA Margin 10 Basis Points - Raised 2021 Full - Year Financial Guidance - Certified as a Great Place to Work® for the Fifth Consecutive Year PHOENIX , Oct. 28 , 2021 / PRNewswire / -- Republic Services , Inc. ( NYSE : RSG ) today reported net income of $ 350.3 million , or $ 1.10 per diluted share , for the three months ended September 30 , 2021 , versus $ 260.0 million , or $ 0.81 per diluted share , for the comparable 2020 period . Excluding certain benefits and expenses , on an adjusted basis , net income for the three months ended September 30 , 2021 was $ 353.7 million , or $ 1.11 per diluted share , versus $ 319.3 million , or $ 1.00 per diluted share , for the comparable 2020 period . " We continue to drive outsized revenue growth both organically and through acquisitions , " said Jon Vander Ark , president and chief executive officer . " This year already represents the highest level of investment in acquisitions in over a decade . Our acquisition pipeline remains robust , with broad - based opportunities in the recycling and solid waste business and in our environmental solutions business . " " During the quarter , we continued to execute on our strategic priorities and delivered results that exceeded our expectations , " added Vander Ark . " Accordingly , we are raising our full - year financial guidance . " Third - Quarter 2021 Highlights : • Third quarter EPS was $ 1.10 per share , and adjusted EPS , a non - GAAP measure , was $ 1.11 per share , an increase of 11 percent over the prior year . • Year - to - date cash provided by operating activities was $ 2.1 billion , an increase of 12 percent versus the prior year . Adjusted free cash flow , a non - GAAP measure , was $ 1.4 billion , an increase of 22 percent versus the prior year . • Year - to - date investments in acquisitions were $ 922 million , or $ 876 million net of divestitures . • Year - to - date cash returned to shareholders through dividends and share repurchases was $ 622 million . • Third quarter core price increased revenue by 5.2 percent . Core price consisted of 6.5 percent in the open market and 2.9 percent in the restricted portion of the business . • Third quarter revenue growth from average yield was 3.2 percent and volume increased 4.3 percent . • Third quarter adjusted EBITDA margin , a non - GAAP measure , was 30.4 percent of revenue , which represents a 10 basis point increase over the prior year . • The Company's average recycled commodity price per ton sold during the third quarter was $ 230 . This represents a sequential increase from the second quarter of $ 60 per ton and an increase of $ 131 per ton versus the prior year . • The Company was certified as a Great Place to Work® for the fifth consecutive year . Raised Full - Year 2021 Financial Guidance Republic raised its full - year adjusted diluted EPS guidance to $ 4.10 to $ 4.13 and its full - year adjusted free cash flow guidance to $ 1,475 million to $ 1,500 million . Please refer to the Information Regarding Forward - Looking Statements section of this document . Company Declares Quarterly Dividend Republic announced today that its Board of Directors declared a regular quarterly dividend of $ 0.46 per share for shareholders of record on January 3 , 2022. The dividend will be paid on January 14 , 2022 . Presentation of Certain Non - GAAP Measures Adjusted diluted earnings per share , adjusted net income , adjusted EBITDA , adjusted EBITDA margin and adjusted free cash flow are described in the Reconciliation of Certain Non - GAAP Measures section of this document . About Republic Services Republic Services , Inc. is a leader in the U.S. environmental services industry . Through its subsidiaries , the Company provides superior customer experience while fostering a sustainable Blue Planet® for future generations to enjoy a cleaner , safer and healthier world . For more information , visit RepublicServices.com , or follow us at Facebook.com/RepublicServices , @RepublicService on Twitter or Republic Services on LinkedIn .