SEATTLE (Recycling Monster): Republic Services reported strong growth in its core business during the previous year. The company is reportedly eyeing new growth opportunities during the current year.

According to company press release, the full-year 2023 revenue totalled $14.96 billion. The revenue exceeded the guidance and was up by 10.80% when compared with the year before. The net income too reported significant surge by 16.4% year-on-year to $1.73 billion in 2023. Meantime, the company recorded revenue and net income of $3.83 billion and $439.7 million respectively.

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Republic Services spent around $1.8 billion on acquisitions last year. The acquisition added $200 million in annualized revenue for the environmental services segment and $140 million for the recycling and waste sector during Q4 alone. Simultaneously, the company reported lower employee turnover rate during the previous year, which in turn led to notable reduction in costs.

Commenting on the outlook, the company said that it expects the revenue to range between $16.1 billion and $16.2 billion in 2024. The free cash flow for the year is projected at $2.1 billion. Also, the company plans to spend at least $500 million on acquisitions.