## Republic Services earnings dip slightly
_By Editorial Staff, Resource Recycling_
Republic Services Inc. has released its annual report, revealing that the company made slightly less money in 2012 than the year before, in part, because of a drop in sales revenues from recyclables.
Describing itself as the "second largest provider of services in the domestic non-hazardous solid waste industry as measured by revenue," Republic, which has a presence in 38 states and Puerto Rico, owns or operates 195 transfer stations and 71 recycling centers. During 2012, Republic invested $76 million in five recycling centers.
In 2012, Republic had $8.11 billion in revenue, down slightly from the previous year's $8.19 billion. Net income was $571.8 million for Republic in 2012, or $1.55 per diluted share. In 2011, Republic saw $589.2 million in net income, or $1.55 per diluted share.
The sale of recyclable commodities made up $349 million of that revenue stream, down from $438.6 million in 2011.
"Changing market demand for recyclable materials causes volatility in commodity prices," reads the document. "At current volumes and mix of materials, we believe a 10 dollar per ton change in the price of recyclable materials will change annual revenue and operating income by approximately $29 million and $20 million, respectively, on an annual basis."
For 2013, Republic expects revenue from recyclable commodities to decrease by 0.2 percent, despite expecting overall revenue to increase by about 2.0 to 2.5 percent.
Republic includes its $7 billion debt as a factor that may limit the company's financial flexibility and ability to make additional capital expenditures and other investments.
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