Republic’s Earnings Dip in Second Quarter

Phoenix-based Republic Services posted a net income of $159.7 million on revenues of $2.066 billion during the second quarter of this year. During the same period in 2009, the firm posted a net income of $225.9 million on the same amount of revenue, $2.066 billion.

“I am very pleased with the company’s progress through the first half of 2010,” said James E. O’Connor, chairman and CEO of Republic Services, in a press release. “We have successfully integrated two large companies and have secured substantial synergy savings. The company is well positioned to take advantage of an improving economy and return cash to our stockholders.”

For the first six months of this year, Republic reported a net income of $224.7 million on revenue of $4.02 billion. For the same period in 2009, the firm reported a net income of $338.9 million on $4.13 billion in revenue.

• Read "Republic CEO to Retire at Start of 2011" for the details on James O'Connor's recent retirement announcement.