Republic Services sees FY23 adjusted EPS $5.15-$5.23, consensus $5.04

Sees FY23 revenue $14.65B-$14.8B, consensus $14.53B. Republic expects adjusted free cash flow to be in the range of $1.86 billion to $1.90 billion. The Company expects to receive between $1.65 billion to $1.67 billion of property and equipment, net of proceeds from the sale of property and equipment. Republic expects to invest at least $500 million in acquisitions in 2023. The 2023 financial guidance only includes the expected contribution from acquisitions that closed through December 31, 2022. "We expect to deliver high single-digit growth in revenue, EBITDA and free cash flow in 2023, even with the headwinds from lower recycled commodity prices and higher interest rates," said CEO Vander Ark. "Our strong financial guidance is underpinned by pricing in excess of cost inflation, leveraging digital tools to drive productivity improvements and increase customer retention, and continuing to invest in sustainability initiatives to produce value-creating growth."