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Republic Services Is Leaning Into Pricing Power—Can Discipline Beat Volume Headwinds in a Tough Macro?

Republic Services, a major player in the recycling and waste industry, recently reported its fourth-quarter and full-year financial results for 2025. The company’s performance showcased resilience amid a dynamic macroeconomic environment, with several key highlights and areas of concern that investors might consider when evaluating its prospects. On the positive side, Republic Services achieved revenue growth of 3.5% for the year, alongside a 7% increase in adjusted EBITDA and a 90-basis point expansion in adjusted EBITDA margins. This indicates a strong operational performance, which was primarily driven by effective pricing strategies and cost management. The company’s average yield on total revenue was 3.7%, reflecting solid pricing across its business segments, and they maintained a high customer retention rate of 94%. Additionally, Republic’s focus on digital innovation and sustainability showed progress, with initiatives like the RISE digital platform and advances in renewable natural gas projects.