Republic Services (RSG) 10-K Summary — Year Ended Dec 31, 2023
Republic Services filed its annual report for the period ended December 31, 2023. The filing covers business overview, risk factors, management discussion, and liquidity and capital resources.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Republic Services filed its annual report for the period ended December 31, 2023. The filing covers business overview, risk factors, management discussion, and liquidity and capital resources.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$15B
Revenue reported for the fiscal year.
Operating income
$2.8B
Income from operations reported for the year.
Net income
$1.7B
Net income reported for the year.
Operating cash flow
$3.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $11.3B | n/a |
| Dec 31, 2022 | $13.5B | +19.6% |
| Dec 31, 2023 | $15B | +10.8% |
Business overview
Republic Services provides waste collection, transfer, landfill, and recycling services. The company also engages in related activities such as final capping, closure, and post-closure obligations at its landfills.
Financial performance
Revenue increased from the prior year to the reported level. Operating income and net income were reported at the stated amounts. Operating cash flow was also reported at the stated level.
Material risks
The filing identifies risk factors in Item 1A, though specific details are not provided in the supplied context. The company notes that restricted cash and marketable securities are pledged to regulatory agencies and governmental entities as financial guarantees for performance under contracts and permits, as well as for capping, closure, and post-closure obligations.
Liquidity and capital
The company expects existing cash, cash equivalents, restricted cash and marketable securities, cash flows from operations, and financing activities to be sufficient to fund operating activities and cash commitments for at least the next 12 months and thereafter. Known uses of cash include capping, closure, and post-closure obligations, as well as insurance obligations.
What to watch
Monitor changes in restricted cash and marketable securities balances, particularly those related to capping, closure, and post-closure obligations.