Date: August 27, 2003
Source: News Room
Republic Services Inc. (NYSE: RSG) has lowered both the high and low ends of its 2003 guidance by 14 cents to $1.32 to $1.34 a share. In a statement, the company said that its previous targets for 2003 earnings were $1.46 to $1.48 a share. Nine cents of the reduction were attributed to an additional self-insurance requirement, while the remaining five cents were related to higher fuel costs and other components of the weak economy. Last year, the company earned $239.6 million, or $1.44 a share (including a one-time gain) on $2.37 billion in revenue. Excluding the $3.5 million gain from an asset sale, the company earned $236.1 million, or $1.42 a share.
More information: www.republicservices.com.
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