SEATTLE (Recycling Monster): Republic Services reported yet another quarter of revenue growth during the first quarter of the current year, despite marginal decline in volumes. The growth was mainly driven by recent investments by the company and also on account of rise in commodity prices.

According to company press release, the Q1 revenues totalled $3.86 billion, which was up by 7.8% over the prior year quarter. The recent acquisitions made by the company contributed to 3.7% of the revenue growth. The Q1 2024 net income stood at $453.8 million, significantly higher by 18.2%, upon comparison with the corresponding quarter a year before. The revenue from environmental solutions was $423.3 million in Q1. This compares with $408.3 million in Q1 last year.

Republic Services reported 2.6% year-on-year decline in residential volumes. However, landfill MSW volumes witnessed a surge by 1.6% over the previous year. The core pricing posted decline from 8.2% in Q1 2023 to 7% in Q1 2024. The company reported per ton commodity prices of $153 during the quarter, significantly higher when compared with $105 for the same period in 2023.

Commenting on the results, Jon Vander Ark, CEO noted that the company is off to a strong start to the year and is well-positioned to achieve its full-year goals.

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