Republic Services reported a decrease in earnings despite higher revenue for Q1.
Net income was $142.9 million, or $0.38 per diluted share, for the three months ended March 31, 2012, versus $158.2 million, or $0.41 per diluted share, for the comparable period last year.
The also company lowered its full year 2012 adjusted earnings per share guidance to a range of $1.86 to $1.90 from its previous guidance of $1.98 to $2.02 per share.
"We are updating our full year guidance to reflect higher costs and current business conditions," said Donald W. Slager, President and Chief Executive Officer of Republic Services, Inc. "We will continue to invest in our core business including recycling, fleet maintenance, automation and natural gas initiatives. In addition, we have a robust pipeline of potential acquisitions and have completed approximately $65 million of acquisition activity through April."
